Forum Financial Management LP Has $8.85 Million Stake in Exxon Mobil Co. (NYSE:XOM)

Forum Financial Management LP grew its position in shares of Exxon Mobil Co. (NYSE:XOM) by 10.8% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 76,901 shares of the oil and gas company’s stock after acquiring an additional 7,478 shares during the period. Forum Financial Management LP’s holdings in Exxon Mobil were worth $8,853,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Exxon Mobil by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after purchasing an additional 1,269,495 shares during the last quarter. Norges Bank acquired a new stake in Exxon Mobil in the 4th quarter worth approximately $5,519,753,000. Price T Rowe Associates Inc. MD lifted its holdings in Exxon Mobil by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after purchasing an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after buying an additional 4,080,716 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Exxon Mobil by 25.1% during 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 during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XOM. Barclays cut their price target on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company cut their price target on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Sanford C. Bernstein cut their price target on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Wolfe Research began coverage on Exxon Mobil in a report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $136.29.

Exxon Mobil Stock Performance

XOM opened at $117.94 on Friday. The stock’s 50 day simple moving average is $115.93 and its 200-day simple moving average is $114.31. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The stock has a market cap of $465.04 billion, a PE ratio of 14.45, a P/E/G ratio of 4.51 and a beta of 0.91. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating 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 firm had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The business’s revenue was up 12.2% compared to the same quarter last year. Sell-side analysts forecast that Exxon Mobil Co. will post 8.65 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

About Exxon Mobil

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.