Shell Asset Management Co. Decreases Stake in Exxon Mobil Corp. (XOM)
Shell Asset Management Co. lowered its stake in Exxon Mobil Corp. (NYSE:XOM) by 0.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 865,787 shares of the company’s stock after selling 2,093 shares during the period. Exxon Mobil Corp. makes up approximately 1.8% of Shell Asset Management Co.’s portfolio, making the stock its largest position. Shell Asset Management Co.’s holdings in Exxon Mobil Corp. were worth $75,566,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thomas J. Herzfeld Advisors Inc. boosted its stake in Exxon Mobil Corp. by 166.5% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 1,106 shares of the company’s stock worth $104,000 after buying an additional 691 shares during the last quarter. Equitec Proprietary Markets LLC acquired a new stake in Exxon Mobil Corp. during the third quarter worth about $107,000. Tuttle Tactical Management LLC acquired a new stake in Exxon Mobil Corp. during the second quarter worth about $125,000. Horan Securities Inc. acquired a new stake in Exxon Mobil Corp. during the third quarter worth about $137,000. Finally, NewSquare Capital LLC boosted its stake in Exxon Mobil Corp. by 2.1% in the second quarter. NewSquare Capital LLC now owns 1,603 shares of the company’s stock worth $150,000 after buying an additional 33 shares during the last quarter. 50.41% of the stock is owned by institutional investors.
Shares of Exxon Mobil Corp. (NYSE:XOM) opened at 86.25 on Thursday. The firm’s 50-day moving average price is $85.81 and its 200-day moving average price is $88.54. Exxon Mobil Corp. has a one year low of $71.55 and a one year high of $95.55. The company has a market capitalization of $357.65 billion, a price-to-earnings ratio of 40.38 and a beta of 0.86.
Exxon Mobil Corp. (NYSE:XOM) last posted its earnings results on Friday, October 28th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The company earned $58.68 billion during the quarter, compared to analyst estimates of $61.34 billion. Exxon Mobil Corp. had a net margin of 3.98% and a return on equity of 5.04%. Exxon Mobil Corp.’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. Analysts anticipate that Exxon Mobil Corp. will post $2.17 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 10th will be issued a dividend of $0.75 per share. The ex-dividend date is Tuesday, November 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.48%. Exxon Mobil Corp.’s dividend payout ratio is currently 140.19%.
A number of analysts have recently issued reports on XOM shares. HSBC set a $91.00 price objective on Exxon Mobil Corp. and gave the company a “neutral” rating in a research report on Tuesday, October 11th. Exane BNP Paribas assumed coverage on Exxon Mobil Corp. in a research note on Monday, October 10th. They set an “underperform” rating and a $80.00 target price on the stock. Credit Suisse Group AG set a $74.00 target price on Exxon Mobil Corp. and gave the stock a “sell” rating in a research note on Friday, October 14th. Barclays PLC set a $97.00 target price on Exxon Mobil Corp. and gave the stock a “neutral” rating in a research note on Monday, October 31st. Finally, Raymond James Financial Inc. reiterated an “underperform” rating on shares of Exxon Mobil Corp. in a research note on Sunday, October 23rd. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $87.34.
In other Exxon Mobil Corp. news, VP Robert Stuart Franklin sold 13,855 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $87.93, for a total value of $1,218,270.15. Following the completion of the sale, the vice president now directly owns 213,256 shares in the company, valued at $18,751,600.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.
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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