Valeo Financial Advisors LLC Acquires New Position in Exxon Mobil Co. (XOM)
Valeo Financial Advisors LLC acquired a new stake in shares of Exxon Mobil Co. (NYSE:XOM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,341 shares of the oil and gas company’s stock, valued at approximately $3,061,000. Exxon Mobil comprises approximately 0.7% of Valeo Financial Advisors LLC’s portfolio, making the stock its 28th largest holding.
A number of other large investors have also modified their holdings of the business. Cambria Investment Management L.P. raised its holdings in shares of Exxon Mobil by 188.1% in the 3rd quarter. Cambria Investment Management L.P. now owns 67,562 shares of the oil and gas company’s stock worth $5,539,000 after purchasing an additional 44,110 shares during the period. Kalos Management Inc. purchased a new position in shares of Exxon Mobil in the 3rd quarter worth about $380,000. Cedar Hill Associates LLC raised its holdings in shares of Exxon Mobil by 37.1% in the 3rd quarter. Cedar Hill Associates LLC now owns 18,560 shares of the oil and gas company’s stock worth $1,521,000 after purchasing an additional 5,024 shares during the period. Beacon Investment Advisory Services Inc. raised its holdings in shares of Exxon Mobil by 1,222.8% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 62,068 shares of the oil and gas company’s stock worth $5,089,000 after purchasing an additional 57,376 shares during the period. Finally, Patten Group Inc. raised its holdings in shares of Exxon Mobil by 956.2% in the 3rd quarter. Patten Group Inc. now owns 378,132 shares of the oil and gas company’s stock worth $2,819,000 after purchasing an additional 342,331 shares during the period. 53.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on XOM shares. Vetr downgraded Exxon Mobil from a “strong-buy” rating to a “buy” rating and set a $87.14 price objective on the stock. in a report on Tuesday, February 27th. Royal Bank of Canada cut their price objective on Exxon Mobil from $90.00 to $85.00 and set a “sector perform” rating on the stock in a report on Thursday, November 16th. Jefferies Group set a $90.00 price objective on Exxon Mobil and gave the stock a “neutral” rating in a report on Friday, January 19th. BNP Paribas set a $75.00 price objective on Exxon Mobil and gave the stock a “sell” rating in a report on Wednesday, November 15th. Finally, Barclays restated a “sell” rating and issued a $84.00 price objective on shares of Exxon Mobil in a report on Tuesday, February 20th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $86.05.
Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.18). Exxon Mobil had a return on equity of 8.00% and a net margin of 7.61%. The business had revenue of $66.52 billion for the quarter, compared to analysts’ expectations of $74.41 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Exxon Mobil’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities analysts anticipate that Exxon Mobil Co. will post 4.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Monday, February 12th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $3.08 annualized dividend and a yield of 4.13%. Exxon Mobil’s dividend payout ratio is presently 95.36%.
In other Exxon Mobil news, VP Neil A. Chapman sold 12,000 shares of Exxon Mobil stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $83.05, for a total transaction of $996,600.00. Following the sale, the vice president now directly owns 291,385 shares in the company, valued at approximately $24,199,524.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.
About Exxon Mobil
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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