Precedent Wealth Partners LLC Buys 2,620 Shares of Exxon Mobil Co. (NYSE:XOM)

Precedent Wealth Partners LLC grew its stake in Exxon Mobil Co. (NYSE:XOM) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,827 shares of the oil and gas company’s stock after purchasing an additional 2,620 shares during the quarter. Exxon Mobil makes up approximately 0.9% of Precedent Wealth Partners LLC’s investment portfolio, making the stock its 28th largest holding. Precedent Wealth Partners LLC’s holdings in Exxon Mobil were worth $2,282,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of XOM. FPC Investment Advisory Inc. acquired a new position in Exxon Mobil in the 1st quarter valued at $25,000. First Pacific Financial acquired a new position in shares of Exxon Mobil in the first quarter valued at about $34,000. Partnership Wealth Management LLC bought a new position in Exxon Mobil during the fourth quarter worth about $46,000. Lynx Investment Advisory acquired a new stake in Exxon Mobil in the 2nd quarter worth about $47,000. Finally, Vima LLC bought a new stake in Exxon Mobil in the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

XOM traded up $0.68 on Friday, reaching $115.41. The stock had a trading volume of 849,103 shares, compared to its average volume of 17,006,506. The firm has a 50-day moving average of $115.00 and a 200-day moving average of $113.68. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The company has a market capitalization of $455.06 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth 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 issued its quarterly earnings data 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 net margin of 9.62% and a return on equity of 16.75%. The business had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same quarter last year, the business earned $1.94 EPS. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Exxon Mobil Co. will post 8.65 EPS for the current year.

Exxon Mobil Announces Dividend

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 issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a yield of 3.29%. Exxon Mobil’s payout ratio is 46.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Sanford C. Bernstein lowered their target price on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $145.00 price objective on shares of Exxon Mobil in a report on Wednesday, May 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a research report on Tuesday, July 9th. TD Cowen raised their price target on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, HSBC upped their price objective on shares of Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.56.

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.