Cornerstone Wealth Group LLC Grows Holdings in Exxon Mobil Co. (NYSE:XOM)

Cornerstone Wealth Group LLC increased its holdings in Exxon Mobil Co. (NYSE:XOM) by 3.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,878 shares of the oil and gas company’s stock after purchasing an additional 2,828 shares during the period. Exxon Mobil makes up about 0.9% of Cornerstone Wealth Group LLC’s holdings, making the stock its 28th biggest holding. Cornerstone Wealth Group LLC’s holdings in Exxon Mobil were worth $9,401,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in XOM. Partnership Wealth Management LLC bought a new stake in Exxon Mobil during the 4th quarter valued at $46,000. Vima LLC bought a new stake in Exxon Mobil during the 4th quarter valued at $50,000. Keener Financial Planning LLC bought a new stake in Exxon Mobil during the 4th quarter valued at $80,000. Neo Ivy Capital Management bought a new stake in Exxon Mobil during the 4th quarter valued at $80,000. Finally, Orion Capital Management LLC bought a new stake in Exxon Mobil during the 3rd quarter valued at $91,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

XOM stock opened at $115.12 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. The business has a 50-day moving average price of $115.25 and a 200 day moving average price of $109.72. The company has a market capitalization of $453.92 billion, a P/E ratio of 14.11, a PEG ratio of 4.14 and a beta of 0.92. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $123.75.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The firm had revenue of $83.08 billion during the quarter, compared to the consensus estimate of $79.69 billion. During the same quarter in the previous year, the firm earned $2.83 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Exxon Mobil Co. will post 9.28 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.80 annualized dividend and a yield of 3.30%. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. HSBC increased their price target on shares of Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. TD Cowen raised their price target on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $145.00 price target on shares of Exxon Mobil in a report on Wednesday, May 15th. Truist Financial reiterated a “hold” rating and issued a $124.00 price objective (down previously from $146.00) on shares of Exxon Mobil in a research note on Friday, June 7th. Finally, Piper Sandler raised their target price on shares of Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.82.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,426 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the transaction, the vice president now directly owns 25,363 shares in the company, valued at approximately $3,018,450.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.