Shariaportfolio Inc. Increases Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Shariaportfolio Inc. increased its stake in Exxon Mobil Co. (NYSE:XOM) by 4.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 16,377 shares of the oil and gas company’s stock after acquiring an additional 753 shares during the quarter. Exxon Mobil comprises approximately 1.0% of Shariaportfolio Inc.’s investment portfolio, making the stock its 18th biggest position. Shariaportfolio Inc.’s holdings in Exxon Mobil were worth $1,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after acquiring an additional 14,158,054 shares during the last quarter. Global Assets Advisory LLC increased its position in shares of Exxon Mobil by 16,399.4% during the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after purchasing an additional 12,540,435 shares in the last quarter. Fisher Asset Management LLC raised its stake in Exxon Mobil by 565.3% in the 4th quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock valued at $1,317,817,000 after purchasing an additional 11,199,696 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Exxon Mobil during the 2nd quarter worth $980,210,000. Finally, Capital International Investors grew 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 in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on XOM. Morgan Stanley decreased their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group lowered their target price on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday. 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. Royal Bank of Canada reissued a “sector perform” rating and set a $135.00 price objective on shares of Exxon Mobil in a research note on Tuesday, July 9th. Finally, Truist Financial cut their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $135.76.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $114.57 on Thursday. The company’s 50 day simple moving average is $115.78 and its 200-day simple moving average is $115.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The company has a market capitalization of $451.75 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 4.38 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts expect that Exxon Mobil Co. will post 8.36 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio 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.