Exxon Mobil Corp. (XOM) Stake Increased by Nordea Investment Management AB
Nordea Investment Management AB boosted its position in Exxon Mobil Corp. (NYSE:XOM) by 84.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,809,085 shares of the company’s stock after buying an additional 1,289,210 shares during the period. Nordea Investment Management AB owned 0.07% of Exxon Mobil Corp. worth $263,324,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Banced Corp boosted its stake in shares of Exxon Mobil Corp. by 7.5% in the second quarter. Banced Corp now owns 2,832 shares of the company’s stock worth $210,000 after buying an additional 197 shares during the period. Albert D Mason Inc. purchased a new stake in shares of Exxon Mobil Corp. during the second quarter worth about $224,000. Lenox Wealth Advisors Inc. boosted its stake in shares of Exxon Mobil Corp. by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 2,708 shares of the company’s stock worth $254,000 after buying an additional 10 shares during the period. Bouchey Financial Group Ltd boosted its stake in shares of Exxon Mobil Corp. by 29.2% in the second quarter. Bouchey Financial Group Ltd now owns 3,097 shares of the company’s stock worth $290,000 after buying an additional 700 shares during the period. Finally, ELM Advisors LLC purchased a new stake in shares of Exxon Mobil Corp. during the second quarter worth about $299,000. Institutional investors and hedge funds own 50.42% of the company’s stock.
Shares of Exxon Mobil Corp. (NYSE:XOM) traded down 0.02% during midday trading on Friday, hitting $86.54. 7,991,654 shares of the stock were exchanged. Exxon Mobil Corp. has a 1-year low of $71.55 and a 1-year high of $95.55. The stock’s 50-day moving average price is $86.20 and its 200-day moving average price is $88.37. The firm has a market capitalization of $358.85 billion, a price-to-earnings ratio of 34.37 and a beta of 0.83.
Exxon Mobil Corp. (NYSE:XOM) last issued its earnings results on Friday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by $0.23. Exxon Mobil Corp. had a return on equity of 5.94% and a net margin of 4.51%. The firm earned $57.69 billion during the quarter, compared to the consensus estimate of $60.23 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. Exxon Mobil Corp.’s revenue for the quarter was down 22.2% on a year-over-year basis. On average, analysts forecast that Exxon Mobil Corp. will post $2.28 EPS for the current year.
Several research firms have weighed in on XOM. Barclays PLC lowered their price objective on shares of Exxon Mobil Corp. to $100.00 in a research report on Monday, August 1st. Vetr upgraded shares of Exxon Mobil Corp. from a “hold” rating to a “buy” rating and set a $95.77 price objective for the company in a research report on Tuesday, July 26th. Goldman Sachs Group Inc. set a $102.00 price objective on shares of Exxon Mobil Corp. and gave the company a “buy” rating in a research report on Thursday, July 14th. Zacks Investment Research upgraded shares of Exxon Mobil Corp. from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Tuesday, July 5th. Finally, Societe Generale set a $105.00 price objective on shares of Exxon Mobil Corp. and gave the company a “buy” rating in a research report on Monday, August 15th. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.77.
In related news, VP Robert Stuart Franklin sold 13,855 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $87.93, for a total value of $1,218,270.15. Following the transaction, the vice president now directly owns 213,256 shares in the company, valued at approximately $18,751,600.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.
About Exxon Mobil Corp.
Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas, manufacturing of petroleum products, and transportation and sale of crude oil, natural gas and petroleum products. The Company also manufactures and markets petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and various specialty products.
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