Procyon Advisors LLC Purchases 9,055 Shares of Exxon Mobil Co. (NYSE:XOM)

Procyon Advisors LLC lifted its position in shares of Exxon Mobil Co. (NYSE:XOM) by 21.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,007 shares of the oil and gas company’s stock after purchasing an additional 9,055 shares during the quarter. Procyon Advisors LLC’s holdings in Exxon Mobil were worth $5,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of XOM. Partnership Wealth Management LLC bought a new stake in Exxon Mobil in the 4th quarter valued at $46,000. Vima LLC bought a new position in shares of Exxon Mobil during the 4th quarter worth about $50,000. Orion Capital Management LLC acquired a new stake in shares of Exxon Mobil during the 3rd quarter valued at about $91,000. Keener Financial Planning LLC bought a new stake in Exxon Mobil in the fourth quarter valued at about $80,000. Finally, Neo Ivy Capital Management acquired a new position in Exxon Mobil in the fourth quarter worth about $80,000. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Scotiabank lifted their price objective on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Barclays began coverage on Exxon Mobil in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $147.00 price target on the stock. Truist Financial reiterated a “hold” rating and set a $124.00 price objective (down from $146.00) on shares of Exxon Mobil in a research note on Friday, June 7th. Morgan Stanley restated an “overweight” rating and issued a $145.00 target price on shares of Exxon Mobil in a research note on Wednesday, May 15th. Finally, TD Cowen upped their target price on shares of Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and an average price target of $133.82.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $114.91 on Friday. The firm has a 50 day simple moving average of $115.42 and a 200 day simple moving average of $109.42. 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 debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. The firm has a market cap of $453.09 billion, a P/E ratio of 14.08, a P/E/G ratio of 4.11 and a beta of 0.92.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The firm had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. During the same period last year, the business posted $2.83 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. Sell-side analysts predict that Exxon Mobil Co. will post 9.28 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.95 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a yield of 3.31%. Exxon Mobil’s payout ratio is presently 46.57%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,426 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $119.01, for a total value of $288,718.26. Following the transaction, the vice president now directly owns 25,363 shares in the company, valued at $3,018,450.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.03% of the company’s stock.

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.