Drummond Knight Asset Management Pty Ltd Acquires New Position in Exxon Mobil Corporation $XOM

Drummond Knight Asset Management Pty Ltd acquired a new stake in Exxon Mobil Corporation (NYSE:XOM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 139,393 shares of the oil and gas company’s stock, valued at approximately $15,027,000. Exxon Mobil accounts for 4.8% of Drummond Knight Asset Management Pty Ltd’s holdings, making the stock its 9th biggest holding.

A number of other institutional investors also recently modified their holdings of XOM. Employees Retirement System of Texas grew its stake in Exxon Mobil by 5.6% in the second quarter. Employees Retirement System of Texas now owns 1,123,213 shares of the oil and gas company’s stock valued at $121,082,000 after purchasing an additional 59,260 shares in the last quarter. Choreo LLC lifted its holdings in shares of Exxon Mobil by 7.9% during the 2nd quarter. Choreo LLC now owns 179,814 shares of the oil and gas company’s stock valued at $19,384,000 after buying an additional 13,117 shares during the last quarter. Maia Wealth LLC grew its stake in shares of Exxon Mobil by 17.7% in the 2nd quarter. Maia Wealth LLC now owns 10,732 shares of the oil and gas company’s stock valued at $1,157,000 after buying an additional 1,611 shares in the last quarter. Boxwood Ventures Inc. acquired a new position in Exxon Mobil in the second quarter worth approximately $1,200,000. Finally, Country Trust Bank raised its position in Exxon Mobil by 110.0% during the second quarter. Country Trust Bank now owns 5,409 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 2,833 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Melius Research initiated coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price on the stock. Bank of America boosted their price target on Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Wells Fargo & Company initiated coverage on Exxon Mobil in a research note on Friday, October 17th. They set an “overweight” rating and a $156.00 price target for the company. Finally, Mizuho cut their price objective on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus target price of $128.67.

Exxon Mobil Trading Down 1.2%

Shares of NYSE:XOM opened at $114.53 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The stock’s 50-day moving average is $114.76 and its 200-day moving average is $111.25. The company has a market cap of $482.99 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.06 and a beta of 0.49. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $120.81.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. The business had revenue of $57.55 billion during the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. Equities research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be given a $1.03 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is currently 59.88%.

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.