Garrett Wealth Advisory Group LLC Boosts Stock Position in Exxon Mobil Co. (NYSE:XOM)

Garrett Wealth Advisory Group LLC increased its position in Exxon Mobil Co. (NYSE:XOM) by 75.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,977 shares of the oil and gas company’s stock after acquiring an additional 12,052 shares during the quarter. Exxon Mobil comprises approximately 1.2% of Garrett Wealth Advisory Group LLC’s holdings, making the stock its 18th biggest position. Garrett Wealth Advisory Group LLC’s holdings in Exxon Mobil were worth $3,221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Exxon Mobil by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after acquiring an additional 1,269,495 shares during the period. Norges Bank purchased a new stake in Exxon Mobil during the 4th quarter valued at approximately $5,519,753,000. Price T Rowe Associates Inc. MD raised its position in shares of Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after buying an additional 2,676,652 shares during the last quarter. Capital International Investors lifted its holdings in shares of Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after buying an additional 5,523,429 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Exxon Mobil by 6.0% during the fourth quarter. Capital Research Global Investors now owns 18,388,299 shares of the oil and gas company’s stock worth $1,838,462,000 after acquiring an additional 1,037,226 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on XOM. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. UBS Group raised their target price on shares of Exxon Mobil from $152.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. HSBC upped their price target on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Morgan Stanley reissued an “overweight” rating and issued a $145.00 price objective on shares of Exxon Mobil in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a research report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.39.

Exxon Mobil Price Performance

NYSE XOM opened at $118.53 on Tuesday. The company has a market cap of $467.36 billion, a PE ratio of 14.53, a P/E/G ratio of 4.51 and a beta of 0.91. The firm’s 50 day moving average price is $114.80 and its 200-day moving average price is $113.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. Sell-side analysts forecast that Exxon Mobil Co. will post 8.65 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Thursday, August 15th. Exxon Mobil’s payout ratio is currently 46.57%.

Exxon Mobil Company 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.