Private Asset Management Inc. grew its position in Exxon Mobil Co. (NYSE:XOM) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 176,709 shares of the oil and gas company’s stock after purchasing an additional 7,137 shares during the quarter. Exxon Mobil comprises approximately 2.0% of Private Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. Private Asset Management Inc.’s holdings in Exxon Mobil were worth $13,184,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Exxon Mobil by 1.2% in the first quarter. BlackRock Inc. now owns 260,822,111 shares of the oil and gas company’s stock valued at $19,459,936,000 after buying an additional 2,982,610 shares during the period. Bank of New York Mellon Corp lifted its stake in Exxon Mobil by 4.7% during the fourth quarter. Bank of New York Mellon Corp now owns 55,508,146 shares of the oil and gas company’s stock worth $4,642,701,000 after purchasing an additional 2,474,965 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Exxon Mobil by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 30,580,017 shares of the oil and gas company’s stock worth $2,281,575,000 after purchasing an additional 1,200,678 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Exxon Mobil by 4.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 23,832,973 shares of the oil and gas company’s stock worth $1,778,179,000 after purchasing an additional 1,116,450 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in Exxon Mobil by 43.0% during the first quarter. First Eagle Investment Management LLC now owns 18,085,596 shares of the oil and gas company’s stock worth $1,349,366,000 after purchasing an additional 5,440,412 shares during the last quarter. 52.60% of the stock is currently owned by institutional investors.
Several research firms have weighed in on XOM. HSBC restated a “buy” rating and set a $93.50 target price on shares of Exxon Mobil in a research note on Monday, July 16th. Societe Generale set a $92.00 target price on Exxon Mobil and gave the stock a “buy” rating in a research note on Monday, August 6th. Macquarie restated a “sell” rating and set a $70.00 target price on shares of Exxon Mobil in a research note on Thursday, August 30th. Credit Suisse Group set a $80.00 target price on Exxon Mobil and gave the stock a “neutral” rating in a research note on Thursday, September 6th. Finally, Jefferies Financial Group set a $87.00 target price on Exxon Mobil and gave the stock a “neutral” rating in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Exxon Mobil presently has an average rating of “Hold” and an average price target of $87.66.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, July 27th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.34). The company had revenue of $73.50 billion for the quarter, compared to analyst estimates of $71.66 billion. Exxon Mobil had a return on equity of 8.45% and a net margin of 7.64%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. sell-side analysts anticipate that Exxon Mobil Co. will post 4.54 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Monday, August 13th were issued a dividend of $0.82 per share. The ex-dividend date was Friday, August 10th. This represents a $3.28 annualized dividend and a dividend yield of 3.96%. Exxon Mobil’s dividend payout ratio (DPR) is presently 91.36%.
About Exxon Mobil
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.
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