Sara Bay Financial Invests $410,000 in Exxon Mobil Co. (NYSE:XOM)

Sara Bay Financial acquired a new stake in shares of Exxon Mobil Co. (NYSE:XOM) in the second quarter, Holdings Channel reports. The firm acquired 3,558 shares of the oil and gas company’s stock, valued at approximately $410,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Exxon Mobil by 0.3% during 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 period. Norges Bank purchased a new position in shares of Exxon Mobil during the fourth quarter valued at $5,519,753,000. Price T Rowe Associates Inc. MD increased its stake 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 period. Capital International Investors lifted its stake in 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 acquiring an additional 5,523,429 shares during the period. Finally, Capital Research Global Investors lifted its stake in Exxon Mobil by 6.0% in 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 period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

NYSE:XOM traded up $0.36 during trading hours on Monday, hitting $118.53. 12,414,224 shares of the company were exchanged, compared to its average volume of 17,190,029. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75. The stock has a market capitalization of $467.36 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 4.51 and a beta of 0.91. The company’s 50 day moving average price is $114.69 and its 200-day moving average price is $113.47.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $90.09 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts forecast that Exxon Mobil Co. will post 8.65 earnings per share for the current year.

Exxon Mobil Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on XOM. Royal Bank of Canada restated a “sector perform” rating and issued a $135.00 price target on shares of Exxon Mobil in a report on Tuesday, July 9th. Morgan Stanley restated an “overweight” rating and set a $145.00 target price on shares of Exxon Mobil in a report on Wednesday, May 15th. Truist Financial cut their price target on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a report on Monday, July 22nd. TD Cowen upped their price objective on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Barclays dropped their price objective on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $134.39.

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.