Corundum Group Inc. Purchases 8,049 Shares of Exxon Mobil Co. (NYSE:XOM)

Corundum Group Inc. grew its position in Exxon Mobil Co. (NYSE:XOM) by 47.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 24,963 shares of the oil and gas company’s stock after acquiring an additional 8,049 shares during the period. Exxon Mobil accounts for approximately 1.0% of Corundum Group Inc.’s investment portfolio, making the stock its 22nd biggest holding. Corundum Group Inc.’s holdings in Exxon Mobil were worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of XOM. Hershey Financial Advisers LLC purchased a new stake in Exxon Mobil during the 2nd quarter valued at approximately $46,000. Retirement Wealth Solutions LLC bought a new position in shares of Exxon Mobil during the fourth quarter worth $46,000. Peterson Financial Group Inc. purchased a new position in Exxon Mobil during the third quarter valued at $51,000. Highline Wealth Partners LLC purchased a new stake in Exxon Mobil in the 3rd quarter worth $54,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Exxon Mobil during the 3rd quarter valued at about $63,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on XOM. UBS Group decreased their target price on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. Morgan Stanley reduced their price target on shares of Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. Barclays lowered their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Redburn Atlantic restated a “neutral” rating and issued a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.84.

Exxon Mobil Trading Down 0.7 %

NYSE XOM opened at $111.52 on Wednesday. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The company’s 50-day moving average price is $112.40 and its 200-day moving average price is $115.50. The stock has a market cap of $490.12 billion, a PE ratio of 13.89, a PEG ratio of 3.01 and a beta of 0.91. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $2.27 earnings per share. Equities research analysts forecast that Exxon Mobil Co. will post 7.77 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.55%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, November 14th. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Exxon Mobil Profile

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.