CIBC Asset Management Inc decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 532,052 shares of the oil and gas company’s stock after selling 30,669 shares during the quarter. CIBC Asset Management Inc’s holdings in Exxon Mobil were worth $40,769,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in XOM. Elite Wealth Management Inc. increased its stake in Exxon Mobil by 24.1% during the 4th quarter. Elite Wealth Management Inc. now owns 3,600 shares of the oil and gas company’s stock worth $245,000 after buying an additional 700 shares in the last quarter. Sumitomo Life Insurance Co. increased its stake in Exxon Mobil by 2.4% during the 4th quarter. Sumitomo Life Insurance Co. now owns 144,953 shares of the oil and gas company’s stock worth $9,884,000 after buying an additional 3,441 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. increased its stake in Exxon Mobil by 7.2% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 14,226 shares of the oil and gas company’s stock worth $970,000 after buying an additional 961 shares in the last quarter. Bank OZK increased its stake in Exxon Mobil by 0.4% during the 4th quarter. Bank OZK now owns 63,568 shares of the oil and gas company’s stock worth $4,335,000 after buying an additional 265 shares in the last quarter. Finally, Calamos Advisors LLC increased its stake in Exxon Mobil by 5.4% during the 4th quarter. Calamos Advisors LLC now owns 1,462,707 shares of the oil and gas company’s stock worth $99,742,000 after buying an additional 75,315 shares in the last quarter. Institutional investors own 54.48% of the company’s stock.
In related news, VP Robert N. Schleckser sold 9,345 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.84, for a total value of $661,999.80. Following the transaction, the vice president now directly owns 189,800 shares in the company, valued at $13,445,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.
XOM has been the topic of several recent research reports. Barclays initiated coverage on Exxon Mobil in a report on Monday, August 19th. They set an “equal weight” rating and a $73.00 target price on the stock. Royal Bank of Canada restated a “neutral” rating and set a $90.00 target price on shares of Exxon Mobil in a report on Friday, August 2nd. HSBC restated a “neutral” rating and set a $86.50 target price on shares of Exxon Mobil in a report on Thursday, May 23rd. Goldman Sachs Group restated a “hold” rating and set a $80.00 target price on shares of Exxon Mobil in a report on Monday, April 29th. Finally, Credit Suisse Group set a $74.00 target price on Exxon Mobil and gave the stock a “neutral” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.83.
XOM opened at $67.49 on Monday. Exxon Mobil Co. has a one year low of $64.65 and a one year high of $87.36. The stock has a market capitalization of $294.36 billion, a PE ratio of 13.69, a P/E/G ratio of 2.03 and a beta of 0.97. The business’s 50 day moving average price is $73.15 and its 200 day moving average price is $76.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.47 and a current ratio of 0.74.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.05. Exxon Mobil had a return on equity of 9.16% and a net margin of 6.30%. The firm had revenue of $69.09 billion for the quarter, compared to analysts’ expectations of $64.47 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Exxon Mobil Co. will post 3.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 13th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Monday, August 12th. Exxon Mobil’s dividend payout ratio is presently 70.59%.
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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