Traders Buy Shares of Exxon Mobil Corporation (XOM) on Weakness
Investors purchased shares of Exxon Mobil Corporation (NYSE:XOM) on weakness during trading on Thursday. $138.05 million flowed into the stock on the tick-up and $86.75 million flowed out of the stock on the tick-down, for a money net flow of $51.30 million into the stock. Of all stocks tracked, Exxon Mobil Corporation had the 20th highest net in-flow for the day. Exxon Mobil Corporation traded down ($0.17) for the day and closed at $82.43
A number of research firms have commented on XOM. Scotiabank set a $86.00 price objective on shares of Exxon Mobil Corporation and gave the stock a “buy” rating in a report on Saturday, June 17th. BMO Capital Markets lifted their price objective on shares of Exxon Mobil Corporation from $76.00 to $80.00 and gave the stock a “market perform” rating in a report on Wednesday, June 21st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $82.00 price objective (down previously from $90.50) on shares of Exxon Mobil Corporation in a report on Thursday, July 6th. Wolfe Research downgraded shares of Exxon Mobil Corporation from a “market perform” rating to an “underperform” rating in a report on Monday, July 17th. Finally, Citigroup Inc. decreased their price objective on shares of Exxon Mobil Corporation from $87.00 to $84.00 and set a “neutral” rating for the company in a report on Friday, July 21st. Six analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $84.82.
The company has a 50 day moving average of $79.82 and a 200 day moving average of $80.76. The firm has a market cap of $349.26 billion, a PE ratio of 29.72 and a beta of 0.82.
Exxon Mobil Corporation (NYSE:XOM) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). Exxon Mobil Corporation had a net margin of 4.75% and a return on equity of 7.62%. The firm had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. During the same period last year, the company earned $0.41 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that Exxon Mobil Corporation will post $3.44 EPS for the current year.
In other Exxon Mobil Corporation news, Director Steven Reinemund sold 1,100 shares of the stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $80.23, for a total value of $88,253.00. Following the transaction, the director now owns 43,125 shares of the company’s stock, valued at $3,459,918.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert Stuart Franklin sold 22,656 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $79.76, for a total value of $1,807,042.56. Following the completion of the transaction, the vice president now directly owns 231,572 shares in the company, valued at approximately $18,470,182.72. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Horan Securities Inc. acquired a new position in Exxon Mobil Corporation in the first quarter valued at about $102,000. Riggs Asset Managment Co. Inc. lifted its stake in Exxon Mobil Corporation by 27.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,366 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 292 shares during the period. CWH Capital Management Inc. acquired a new position in Exxon Mobil Corporation in the second quarter valued at about $114,000. Watermark Asset Management Inc. acquired a new position in Exxon Mobil Corporation in the first quarter valued at about $136,000. Finally, Acrospire Investment Management LLC lifted its stake in Exxon Mobil Corporation by 172.7% in the second quarter. Acrospire Investment Management LLC now owns 1,737 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 1,100 shares during the period. 50.74% of the stock is currently owned by hedge funds and other institutional investors.
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About Exxon Mobil Corporation
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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