Industry News

Cardinal Capital Management Lowers Position in Exxon Mobil Co. (NYSE:XOM)

By August 17, 2019 No Comments

Cardinal Capital Management decreased its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 0.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 79,066 shares of the oil and gas company’s stock after selling 243 shares during the period. Exxon Mobil accounts for 1.7% of Cardinal Capital Management’s investment portfolio, making the stock its 12th largest position. Cardinal Capital Management’s holdings in Exxon Mobil were worth $6,059,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of XOM. FMR LLC lifted its holdings in Exxon Mobil by 6.8% during the 1st quarter. FMR LLC now owns 47,767,853 shares of the oil and gas company’s stock worth $3,859,642,000 after purchasing an additional 3,038,704 shares in the last quarter. Nomura Holdings Inc. increased its stake in Exxon Mobil by 224.9% in the 4th quarter. Nomura Holdings Inc. now owns 449,349 shares of the oil and gas company’s stock worth $31,259,000 after acquiring an additional 809,199 shares during the last quarter. Inlet Private Wealth LLC bought a new position in Exxon Mobil in the 4th quarter worth about $48,697,000. Royal London Asset Management Ltd. increased its stake in Exxon Mobil by 31.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 2,433,662 shares of the oil and gas company’s stock worth $165,903,000 after acquiring an additional 587,387 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Exxon Mobil by 39.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 943,995 shares of the oil and gas company’s stock worth $56,310,000 after acquiring an additional 265,238 shares during the last quarter. 54.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of Exxon Mobil stock traded up $1.05 during trading on Friday, hitting $68.30. 12,618,271 shares of the stock traded hands, compared to its average volume of 11,649,516. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 0.10. The stock has a market cap of $298.25 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.05 and a beta of 0.97. The firm’s fifty day moving average is $74.19 and its 200-day moving average is $76.91. Exxon Mobil Co. has a 52 week low of $64.65 and a 52 week high of $87.36.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.68 by $0.05. The firm had revenue of $69.09 billion for the quarter, compared to analyst estimates of $64.47 billion. Exxon Mobil had a return on equity of 9.16% and a net margin of 6.30%. The company’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. On average, analysts forecast that Exxon Mobil Co. will post 3.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.87 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $3.48 annualized dividend and a dividend yield of 5.10%. Exxon Mobil’s dividend payout ratio (DPR) is presently 70.59%.

In other news, VP Robert N. Schleckser sold 9,345 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $70.84, for a total transaction of $661,999.80. Following the transaction, the vice president now directly owns 189,800 shares in the company, valued at approximately $13,445,432. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is currently owned by corporate insiders.

XOM has been the topic of a number of research analyst reports. Credit Suisse Group set a $74.00 target price on Exxon Mobil and gave the stock a “neutral” rating in a research note on Friday, August 2nd. HSBC restated a “neutral” rating and issued a $86.50 target price on shares of Exxon Mobil in a research note on Thursday, May 23rd. Goldman Sachs Group restated a “hold” rating and issued a $80.00 target price on shares of Exxon Mobil in a research note on Monday, April 29th. DZ Bank upgraded Exxon Mobil from a “sell” rating to a “hold” rating and decreased their target price for the stock from $72.00 to $70.00 in a research note on Tuesday, August 6th. Finally, Morgan Stanley decreased their target price on Exxon Mobil from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $82.59.

Exxon Mobil 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 is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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