Driehaus Capital Management LLC Trims Stake in Exxon Mobil Co. (NYSE:XOM)

Driehaus Capital Management LLC decreased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,727 shares of the oil and gas company’s stock after selling 2,109 shares during the quarter. Driehaus Capital Management LLC’s holdings in Exxon Mobil were worth $1,369,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Exxon Mobil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock worth $10,023,875,000 after purchasing an additional 1,104,617 shares during the period. Norges Bank purchased a new position in shares of Exxon Mobil during the 4th quarter valued at approximately $6,936,737,000. Northern Trust Corp grew its stake in Exxon Mobil by 7.0% in the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares during the period. Bank of New York Mellon Corp increased its holdings in Exxon Mobil by 14.4% in the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock worth $4,731,263,000 after acquiring an additional 5,538,694 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Exxon Mobil by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after acquiring an additional 4,140,046 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of XOM opened at $107.38 on Friday. The firm has a market capitalization of $464.45 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 3.02 and a beta of 0.51. The firm’s fifty day simple moving average is $108.97 and its 200-day simple moving average is $111.21. Exxon Mobil Co. has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.03. The business had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $2.06 EPS. Equities analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be paid a $0.99 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.69%. Exxon Mobil’s dividend payout ratio is presently 52.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Royal Bank of Canada cut their price objective on Exxon Mobil from $115.00 to $105.00 and set a “sector perform” rating for the company in a research note on Monday, May 5th. Mizuho lowered their price target on shares of Exxon Mobil from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Barclays cut their price objective on shares of Exxon Mobil from $130.00 to $127.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Wells Fargo & Company dropped their price target on shares of Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, BMO Capital Markets reduced their price target on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.85.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.