Riverbend Wealth Management LLC Buys Shares of 5,815 Exxon Mobil Co. (NYSE:XOM)

Riverbend Wealth Management LLC bought a new stake in Exxon Mobil Co. (NYSE:XOM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,815 shares of the oil and gas company’s stock, valued at approximately $627,000.

Several other hedge funds and other institutional investors also recently modified their holdings of XOM. Bank of New York Mellon Corp grew its stake in shares of Exxon Mobil by 14.4% in the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Exxon Mobil by 1,524.1% in the 4th quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company’s stock valued at $585,818,000 after purchasing an additional 5,110,603 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Exxon Mobil by 16.3% in the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after purchasing an additional 4,415,012 shares during the last quarter. Proficio Capital Partners LLC grew its stake in shares of Exxon Mobil by 13,899.5% in the 4th quarter. Proficio Capital Partners LLC now owns 1,888,812 shares of the oil and gas company’s stock valued at $1,963,000 after purchasing an additional 1,875,320 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Exxon Mobil by 11,131.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,792,811 shares of the oil and gas company’s stock valued at $192,853,000 after buying an additional 1,776,848 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XOM has been the subject of several recent analyst reports. HSBC reduced their price target on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a report on Friday, January 31st. TD Cowen reduced their price target on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price target on shares of Exxon Mobil in a report on Monday, February 3rd. Scotiabank reduced their price target on Exxon Mobil from $145.00 to $140.00 in a report on Friday, January 31st. Finally, Morgan Stanley raised their price target on Exxon Mobil from $139.00 to $140.00 in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and an average price target of $129.25.

Exxon Mobil Stock Performance

NYSE XOM opened at $111.85 on Tuesday. Exxon Mobil Co. has a fifty-two week low of $103.67 and a fifty-two week high of $126.34. The stock has a market cap of $485.33 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 3.02 and a beta of 0.83. The business has a fifty day moving average of $109.17 and a 200-day moving average of $113.85. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period last year, the firm earned $2.48 earnings per share. As a group, analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil’s dividend payout ratio is currently 50.51%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the sale, the vice president now owns 18,087 shares of the company’s stock, valued at $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.