Private Asset Management Inc. Buys 2,040 Shares of Exxon Mobil Corp. (XOM)
Private Asset Management Inc. increased its stake in Exxon Mobil Corp. (NYSE:XOM) by 1.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 200,997 shares of the company’s stock after buying an additional 2,040 shares during the period. Exxon Mobil Corp. comprises approximately 2.9% of Private Asset Management Inc.’s portfolio, making the stock its 5th largest position. Private Asset Management Inc.’s holdings in Exxon Mobil Corp. were worth $17,543,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of XOM. Vanguard Group Inc. raised its stake in Exxon Mobil Corp. by 2.6% in the second quarter. Vanguard Group Inc. now owns 274,326,721 shares of the company’s stock valued at $25,715,387,000 after buying an additional 6,897,006 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Exxon Mobil Corp. during the second quarter worth about $441,823,000. Capital World Investors raised its stake in shares of Exxon Mobil Corp. by 41.7% in the second quarter. Capital World Investors now owns 15,221,000 shares of the company’s stock worth $1,426,817,000 after buying an additional 4,480,000 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Exxon Mobil Corp. by 23.2% in the second quarter. Alliancebernstein L.P. now owns 17,123,892 shares of the company’s stock worth $1,605,194,000 after buying an additional 3,229,704 shares during the last quarter. Finally, AJO LP raised its stake in shares of Exxon Mobil Corp. by 209.2% in the second quarter. AJO LP now owns 4,305,100 shares of the company’s stock worth $403,560,000 after buying an additional 2,912,876 shares during the last quarter. Institutional investors and hedge funds own 50.06% of the company’s stock.
Shares of Exxon Mobil Corp. (NYSE:XOM) traded down 0.11% on Monday, reaching $87.02. 3,827,383 shares of the company’s 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 $86.08 and its 200-day moving average price is $88.38. The company has a market capitalization of $360.85 billion, a P/E ratio of 40.74 and a beta of 0.86.
Exxon Mobil Corp. (NYSE:XOM) last released its earnings results on Friday, October 28th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The company earned $58.68 billion during the quarter, compared to the consensus estimate of $61.34 billion. Exxon Mobil Corp. had a net margin of 3.98% and a return on equity of 5.04%. The company’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 EPS. Analysts anticipate that Exxon Mobil Corp. will post $2.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 10th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Tuesday, November 8th. Exxon Mobil Corp.’s payout ratio is currently 140.19%.
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A number of analysts have issued reports on the company. Jefferies Group reissued a “hold” rating and issued a $85.00 target price on shares of Exxon Mobil Corp. in a research report on Monday, August 1st. Goldman Sachs Group Inc. set a $98.00 target price on Exxon Mobil Corp. and gave the company a “buy” rating in a research report on Monday, August 1st. Barclays PLC cut their target price on Exxon Mobil Corp. to $100.00 in a research report on Monday, August 1st. Exane BNP Paribas assumed coverage on Exxon Mobil Corp. in a research report on Monday, October 10th. They issued an “underperform” rating and a $80.00 target price on the stock. Finally, HSBC set a $91.00 target price on Exxon Mobil Corp. and gave the company a “neutral” rating in a research report on Tuesday, October 11th. Eight research 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. presently has an average rating of “Hold” and a consensus target price of $87.62.
In related news, VP Neil A. Chapman sold 16,000 shares of the business’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $87.00, for a total transaction of $1,392,000.00. Following the completion of the sale, the vice president now owns 222,299 shares of the company’s stock, valued at approximately $19,340,013. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by 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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