Granite Harbor Advisors Inc. Buys 2,411 Shares of Exxon Mobil Co. (NYSE:XOM)

Granite Harbor Advisors Inc. increased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 91.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,053 shares of the oil and gas company’s stock after acquiring an additional 2,411 shares during the period. Granite Harbor Advisors Inc.’s holdings in Exxon Mobil were worth $582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Carmel Capital Partners LLC raised its holdings in shares of Exxon Mobil by 1.0% in the 1st quarter. Carmel Capital Partners LLC now owns 8,796 shares of the oil and gas company’s stock worth $1,022,000 after buying an additional 86 shares in the last quarter. PFS Partners LLC boosted its position in Exxon Mobil by 0.5% in the first quarter. PFS Partners LLC now owns 18,836 shares of the oil and gas company’s stock valued at $2,190,000 after buying an additional 89 shares in the last quarter. WPWealth LLP boosted its holdings in shares of Exxon Mobil by 1.0% in the 1st quarter. WPWealth LLP now owns 8,701 shares of the oil and gas company’s stock worth $1,011,000 after acquiring an additional 90 shares in the last quarter. Gilbert & Cook Inc. grew its position in Exxon Mobil by 0.4% during the 1st quarter. Gilbert & Cook Inc. now owns 25,564 shares of the oil and gas company’s stock worth $2,972,000 after acquiring an additional 91 shares during the last quarter. Finally, Vawter Financial Ltd. increased its holdings in Exxon Mobil by 3.9% during the 1st quarter. Vawter Financial Ltd. now owns 2,433 shares of the oil and gas company’s stock valued at $283,000 after purchasing an additional 91 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Performance

Shares of XOM traded down $1.16 during midday trading on Tuesday, reaching $117.65. 4,144,593 shares of the stock were exchanged, compared to its average volume of 16,966,111. 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 stock’s 50 day simple moving average is $115.35 and its 200 day simple moving average is $114.05. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75. The company has a market cap of $463.89 billion, a P/E ratio of 14.50, a PEG ratio of 4.51 and a beta of 0.91.

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

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on XOM shares. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Truist Financial lowered their price target on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. Sanford C. Bernstein cut their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. HSBC upped their target price on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Finally, Wells Fargo & Company lowered their price target on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.