Investors Buy Shares of Exxon Mobil Corp. (XOM) on Weakness Following Insider Selling
Investors purchased shares of Exxon Mobil Corp. (NYSE:XOM) on weakness during trading on Thursday after an insider sold shares in the company. $165.69 million flowed into the stock on the tick-up and $113.10 million flowed out of the stock on the tick-down, for a money net flow of $52.59 million into the stock. Of all equities tracked, Exxon Mobil Corp. had the 4th highest net in-flow for the day. Exxon Mobil Corp. traded down ($0.52) for the day and closed at $85.23Specifically, VP Robert Stuart Franklin sold 13,855 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $87.93, for a total transaction of $1,218,270.15. Following the completion of the sale, the vice president now owns 213,256 shares of the company’s stock, valued at $18,751,600.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Neil A. Chapman sold 16,000 shares of the business’s stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $87.00, for a total transaction of $1,392,000.00. Following the sale, the vice president now directly owns 222,299 shares of the company’s stock, valued at approximately $19,340,013. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
A number of research firms have recently commented on XOM. Vetr cut shares of Exxon Mobil Corp. from a “buy” rating to a “hold” rating and set a $89.16 target price for the company. in a research note on Wednesday, September 28th. Societe Generale set a $105.00 target price on shares of Exxon Mobil Corp. and gave the stock a “buy” rating in a research note on Monday, August 15th. Goldman Sachs Group Inc. set a $98.00 price target on shares of Exxon Mobil Corp. and gave the stock a “buy” rating in a research report on Monday, August 1st. Barclays PLC restated an “equal weight” rating and set a $102.00 price target on shares of Exxon Mobil Corp. in a research report on Thursday, July 28th. Finally, Morningstar Inc. restated a “neutral” rating on shares of Exxon Mobil Corp. in a research report on Wednesday, August 24th. Eight analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. Exxon Mobil Corp. has an average rating of “Hold” and a consensus price target of $87.34.
The firm has a 50 day moving average price of $86.20 and a 200 day moving average price of $88.47. The firm has a market capitalization of $353.42 billion, a PE ratio of 39.90 and a beta of 0.86.
Exxon Mobil Corp. (NYSE:XOM) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $58.68 billion for the quarter, compared to analysts’ expectations 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 was down 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 earnings per share. On average, equities analysts forecast that Exxon Mobil Corp. will post $2.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $3.00 dividend on an annualized basis and a yield of 3.52%. Exxon Mobil Corp.’s dividend payout ratio (DPR) is 140.19%.
A number of hedge funds and other institutional investors have recently made changes to their positions in XOM. Thomas J. Herzfeld Advisors Inc. raised 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 in the last quarter. Equitec Proprietary Markets LLC purchased a new stake in Exxon Mobil Corp. during the third quarter worth about $107,000. Tuttle Tactical Management LLC purchased a new stake in Exxon Mobil Corp. during the second quarter worth about $125,000. Horan Securities Inc. purchased a new stake in Exxon Mobil Corp. during the third quarter worth about $137,000. Finally, BKS Advisors LLC purchased a new stake in Exxon Mobil Corp. during the third quarter worth about $142,000. 50.34% of the stock is currently owned by hedge funds and other institutional investors.
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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