Investment Analysis: Centric Wealth Management Increases Holdings in Exxon Mobil (NYSE:XOM)
Are you looking to invest in a reliable and well-established company in the oil and gas industry? Look no further than Exxon Mobil Co. (NYSE:XOM). With a market capitalization of $447.02 billion, Exxon Mobil is a major player in the energy sector, and institutional investors are taking notice.
Centric Wealth Management, a prominent investment firm, recently increased its holdings in Exxon Mobil by 11.7% during the first quarter. This move demonstrates confidence in the company’s potential for growth and stability in the market. Other institutional investors, such as Norges Bank and Fisher Asset Management LLC, have also shown interest in Exxon Mobil, further solidifying its position as a top investment choice.
Exxon Mobil’s price performance has been strong, with the stock trading at $113.37 as of the latest data. The company’s earnings report for the first quarter showed solid performance, with a return on equity of 16.75% and a net margin of 9.62%. Analysts anticipate that Exxon Mobil will post 9.18 EPS for the current year, indicating continued growth and profitability.
In addition to its financial performance, Exxon Mobil also offers a competitive dividend yield of 3.35%, making it an attractive option for income investors. The company recently announced a quarterly dividend of $0.95 per share, demonstrating its commitment to rewarding shareholders.
Insiders at Exxon Mobil have also shown confidence in the company, with VP Darrin L. Talley recently selling shares at a favorable price. This insider activity can be a positive indicator of future performance and growth potential.
Wall Street analysts have weighed in on Exxon Mobil, with many giving the stock a “buy” or “hold” rating. With an average price target of $133.82, analysts see potential for further growth in the stock price.
Overall, Exxon Mobil presents a compelling investment opportunity for those looking to add a stable and profitable company to their portfolio. With a strong track record of performance and a commitment to shareholder value, Exxon Mobil is a top choice for investors in the energy sector.
