Institute for Wealth Management LLC. Boosts Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Institute for Wealth Management LLC. lifted its position in Exxon Mobil Co. (NYSE:XOM) by 24.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,878 shares of the oil and gas company’s stock after acquiring an additional 1,329 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Exxon Mobil were worth $792,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of Exxon Mobil during the first quarter valued at approximately $25,000. First Pacific Financial purchased a new stake in shares of Exxon Mobil during the first quarter valued at $34,000. Partnership Wealth Management LLC bought a new position in shares of Exxon Mobil in the fourth quarter worth about $46,000. Lynx Investment Advisory purchased a new position in Exxon Mobil in the 2nd quarter worth about $47,000. Finally, Vima LLC bought a new stake in Exxon Mobil during the 4th quarter valued at about $50,000. Institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on XOM shares. HSBC raised their target price 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. Barclays reduced their price objective on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $135.00 target price on shares of Exxon Mobil in a report on Tuesday, July 9th. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Finally, UBS Group lifted their price objective on Exxon Mobil from $156.00 to $157.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.56.

Exxon Mobil Stock Up 1.4 %

XOM traded up $1.59 during trading on Friday, hitting $116.32. The stock had a trading volume of 10,381,431 shares, compared to its average volume of 17,064,939. The stock has a 50 day simple moving average of $115.14 and a two-hundred day simple moving average of $113.86. The company has a market capitalization of $458.65 billion, a PE ratio of 14.25, a PEG ratio of 4.51 and a beta of 0.91. 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 twelve month low of $95.77 and a twelve month high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data 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 firm had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter last year, the firm earned $1.94 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. On average, research analysts predict that Exxon Mobil Co. will post 8.65 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.27%. Exxon Mobil’s payout ratio is 46.57%.

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.