Spectrum Asset Management Inc. NB CA Has $4.53 Million Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Spectrum Asset Management Inc. NB CA lifted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 25.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 38,096 shares of the oil and gas company’s stock after acquiring an additional 7,763 shares during the period. Exxon Mobil makes up about 2.0% of Spectrum Asset Management Inc. NB CA’s investment portfolio, making the stock its 18th biggest position. Spectrum Asset Management Inc. NB CA’s holdings in Exxon Mobil were worth $4,531,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. 10Elms LLP bought a new stake in Exxon Mobil in the fourth quarter valued at $25,000. Fairway Wealth LLC bought a new position in shares of Exxon Mobil during the fourth quarter valued at $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Exxon Mobil in the 4th quarter valued at $32,000. Compass Planning Associates Inc bought a new stake in shares of Exxon Mobil in the 4th quarter worth about $47,000. Finally, Clarity Asset Management Inc. increased its position in shares of Exxon Mobil by 29.7% during the 4th quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 100 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Stock Performance

XOM stock opened at $109.71 on Friday. Exxon Mobil Co. has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The company has a market cap of $472.81 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 3.02 and a beta of 0.49. The business’s fifty day moving average is $105.28 and its 200-day moving average is $108.82.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The firm had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. During the same quarter in the prior year, the firm posted $2.06 earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil’s payout ratio is 52.52%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on XOM shares. Piper Sandler lowered shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Scotiabank cut their target price on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Barclays restated a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho cut their price objective on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $125.50.

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.