Industry News

Cidel Asset Management Inc. Has $1.11 Million Stake in Exxon Mobil Co. (NYSE:XOM)

By September 10, 2019 No Comments

Cidel Asset Management Inc. lessened its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 44.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,000 shares of the oil and gas company’s stock after selling 6,490 shares during the quarter. Cidel Asset Management Inc.’s holdings in Exxon Mobil were worth $1,110,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Meritage Portfolio Management grew its position in Exxon Mobil by 7.5% during the fourth quarter. Meritage Portfolio Management now owns 15,888 shares of the oil and gas company’s stock worth $1,083,000 after buying an additional 1,107 shares in the last quarter. CWM LLC lifted its position in shares of Exxon Mobil by 7.7% during the 4th quarter. CWM LLC now owns 434,442 shares of the oil and gas company’s stock valued at $29,625,000 after acquiring an additional 31,204 shares during the period. Beese Fulmer Investment Management Inc. lifted its position in shares of Exxon Mobil by 0.7% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 112,164 shares of the oil and gas company’s stock valued at $7,648,000 after acquiring an additional 745 shares during the period. Tandem Investment Advisors Inc. grew its holdings in shares of Exxon Mobil by 2.5% during the 4th quarter. Tandem Investment Advisors Inc. now owns 9,753 shares of the oil and gas company’s stock worth $665,000 after purchasing an additional 240 shares in the last quarter. Finally, Asset Planning Services Inc. LA ADV grew its holdings in shares of Exxon Mobil by 2.5% during the 4th quarter. Asset Planning Services Inc. LA ADV now owns 54,502 shares of the oil and gas company’s stock worth $3,716,000 after purchasing an additional 1,337 shares in the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.

XOM has been the subject of a number of analyst reports. Barclays assumed coverage on Exxon Mobil in a research note on Monday, August 19th. They issued an “equal weight” rating and a $73.00 price target for the company. HSBC reissued a “neutral” rating and issued a $86.50 target price on shares of Exxon Mobil in a report on Thursday, May 23rd. BMO Capital Markets started coverage on shares of Exxon Mobil in a research report on Tuesday, August 20th. They issued a “market perform” rating and a $86.00 target price for the company. Independent Research set a $74.00 price target on shares of Exxon Mobil and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Zacks Investment Research cut shares of Exxon Mobil from a “hold” rating to a “strong sell” rating and set a $79.00 price objective on the stock. in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $81.13.

In related news, VP Robert N. Schleckser sold 9,345 shares of Exxon Mobil stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.84, for a total transaction of $661,999.80. Following the sale, the vice president now directly owns 189,800 shares in the company, valued at approximately $13,445,432. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by company insiders.

Shares of XOM traded up $0.45 during trading hours on Monday, reaching $71.38. The stock had a trading volume of 535,768 shares, compared to its average volume of 10,238,786. The stock has a market capitalization of $297.32 billion, a PE ratio of 14.46, a PEG ratio of 2.11 and a beta of 0.99. Exxon Mobil Co. has a 12 month low of $64.65 and a 12 month high of $87.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.47 and a current ratio of 0.74. The company’s 50-day moving average is $70.88 and its two-hundred day moving average is $76.17.

Exxon Mobil (NYSE:XOM) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $64.47 billion. Exxon Mobil had a return on equity of 9.16% and a net margin of 6.30%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned $0.92 earnings per share. Equities analysts anticipate that Exxon Mobil Co. will post 3.11 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. The ex-dividend date of this dividend is Monday, August 12th. This represents a $3.48 dividend on an annualized basis and a yield of 4.88%. Exxon Mobil’s dividend payout ratio (DPR) is presently 70.59%.

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 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.

Further Reading: Understanding Average Daily Trade Volume

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

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