Kovack Advisors Inc. cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 32.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,702 shares of the oil and gas company’s stock after selling 10,415 shares during the quarter. Kovack Advisors Inc.’s holdings in Exxon Mobil were worth $1,795,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of XOM. Grassi Investment Management grew its holdings in Exxon Mobil by 0.6% during the second quarter. Grassi Investment Management now owns 93,600 shares of the oil and gas company’s stock worth $7,744,000 after buying an additional 600 shares in the last quarter. Outfitter Advisors LTD. grew its holdings in Exxon Mobil by 1.4% during the second quarter. Outfitter Advisors LTD. now owns 47,613 shares of the oil and gas company’s stock worth $3,939,000 after buying an additional 650 shares in the last quarter. X Square Capital LLC grew its holdings in Exxon Mobil by 16.8% during the first quarter. X Square Capital LLC now owns 4,544 shares of the oil and gas company’s stock worth $339,000 after buying an additional 653 shares in the last quarter. Cue Financial Group Inc. grew its holdings in Exxon Mobil by 4.8% during the second quarter. Cue Financial Group Inc. now owns 14,267 shares of the oil and gas company’s stock worth $1,180,000 after buying an additional 657 shares in the last quarter. Finally, We Are One Seven LLC grew its holdings in Exxon Mobil by 3.8% during the first quarter. We Are One Seven LLC now owns 18,385 shares of the oil and gas company’s stock worth $1,372,000 after buying an additional 671 shares in the last quarter. 52.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, VP Bradley W. Corson sold 15,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $84.02, for a total transaction of $1,260,300.00. Following the transaction, the vice president now owns 214,774 shares of the company’s stock, valued at approximately $18,045,311.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.
Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.25. Exxon Mobil had a return on equity of 9.56% and a net margin of 8.15%. The firm had revenue of $76.61 billion for the quarter, compared to analysts’ expectations of $72.91 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, research analysts expect that Exxon Mobil Co. will post 4.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Tuesday, November 13th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, November 9th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 4.00%. Exxon Mobil’s dividend payout ratio is presently 91.36%.
Several brokerages recently issued reports on XOM. Societe Generale set a $92.00 price target on Exxon Mobil and gave the stock a “buy” rating in a report on Wednesday, September 26th. Wells Fargo & Co reiterated a “neutral” rating and set a $88.00 price target on shares of Exxon Mobil in a report on Wednesday, September 26th. BNP Paribas set a $85.00 price objective on Exxon Mobil and gave the company a “sell” rating in a research note on Thursday, October 4th. Credit Suisse Group restated a “neutral” rating and issued a $80.00 price objective on shares of Exxon Mobil in a research note on Tuesday, October 2nd. Finally, Jefferies Financial Group restated a “neutral” rating and issued a $87.00 price objective on shares of Exxon Mobil in a research note on Friday, September 28th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Exxon Mobil presently has a consensus rating of “Hold” and a consensus price target of $86.82.
Exxon Mobil Company Profile
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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