Pallas Capital Advisors LLC Acquires 70,292 Shares of Exxon Mobil Co. (NYSE:XOM)

Pallas Capital Advisors LLC increased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 61.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 185,612 shares of the oil and gas company’s stock after acquiring an additional 70,292 shares during the period. Exxon Mobil comprises 0.9% of Pallas Capital Advisors LLC’s portfolio, making the stock its 15th biggest position. Pallas Capital Advisors LLC’s holdings in Exxon Mobil were worth $22,051,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in Exxon Mobil during the 1st quarter valued at about $25,000. First Pacific Financial purchased a new stake in Exxon Mobil during the first quarter valued at approximately $34,000. Partnership Wealth Management LLC acquired a new stake in Exxon Mobil in the fourth quarter valued at approximately $46,000. Lynx Investment Advisory purchased a new position in Exxon Mobil in the second quarter worth $47,000. Finally, Vima LLC acquired a new position in shares of Exxon Mobil during the fourth quarter worth $50,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock traded up $0.56 on Wednesday, reaching $115.14. The company’s stock had a trading volume of 1,878,399 shares, compared to its average volume of 17,085,268. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $454.00 billion, a P/E ratio of 14.04, a PEG ratio of 4.51 and a beta of 0.91. The stock has a 50-day moving average price of $114.85 and a 200-day moving average price of $113.67. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.94 earnings per share. Analysts expect that Exxon Mobil Co. will post 8.65 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed 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 of this dividend is Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.30%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on XOM. Barclays dropped their target price on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. TD Cowen increased their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. HSBC boosted their target price on shares of Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Mizuho lifted their price objective on shares of Exxon Mobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Finally, UBS Group upped their target price on Exxon Mobil from $156.00 to $157.00 and gave the company a “buy” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus target price of $134.56.

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.