Cohen Capital Management Inc. raised its holdings in Exxon Mobil Co. (NYSE:XOM) by 19.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,460 shares of the oil and gas company’s stock after buying an additional 6,850 shares during the period. Cohen Capital Management Inc.’s holdings in Exxon Mobil were worth $3,177,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. FMR LLC grew its position in shares of Exxon Mobil by 6.8% in the 1st quarter. FMR LLC now owns 47,767,853 shares of the oil and gas company’s stock valued at $3,859,642,000 after acquiring an additional 3,038,704 shares during the period. Rhumbline Advisers grew its position in shares of Exxon Mobil by 1.2% in the 4th quarter. Rhumbline Advisers now owns 7,776,722 shares of the oil and gas company’s stock valued at $530,295,000 after acquiring an additional 90,623 shares during the period. Fisher Asset Management LLC grew its position in shares of Exxon Mobil by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 5,931,415 shares of the oil and gas company’s stock valued at $404,463,000 after acquiring an additional 76,282 shares during the period. First Trust Advisors LP grew its position in shares of Exxon Mobil by 17.3% in the 2nd quarter. First Trust Advisors LP now owns 3,011,774 shares of the oil and gas company’s stock valued at $230,792,000 after acquiring an additional 445,113 shares during the period. Finally, Korea Investment CORP grew its position in shares of Exxon Mobil by 0.8% in the 4th quarter. Korea Investment CORP now owns 2,708,029 shares of the oil and gas company’s stock valued at $184,660,000 after acquiring an additional 21,800 shares during the period. Hedge funds and other institutional investors own 54.48% of the company’s stock.
In related news, VP Robert N. Schleckser sold 9,345 shares of Exxon Mobil stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $70.84, for a total transaction of $661,999.80. Following the completion of the sale, the vice president now owns 189,800 shares of the company’s stock, valued at approximately $13,445,432. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.05% of the company’s stock.
Shares of XOM stock opened at $67.68 on Thursday. The company has a market capitalization of $285.56 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.97 and a beta of 0.97. 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 has a 50-day simple moving average of $72.28 and a 200 day simple moving average of $76.48. 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 earnings results on Friday, August 2nd. The oil and gas company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.68 by $0.05. The business had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $64.47 billion. Exxon Mobil had a net margin of 6.30% and a return on equity of 9.16%. Exxon Mobil’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. Sell-side analysts forecast that Exxon Mobil Co. will post 3.2 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 13th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Monday, August 12th. Exxon Mobil’s payout ratio is 70.59%.
A number of research analysts have recently commented on the stock. Berenberg Bank reissued a “hold” rating and issued a $76.00 price objective on shares of Exxon Mobil in a research report on Wednesday, August 7th. Morgan Stanley decreased their price objective on shares of Exxon Mobil from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Zacks Investment Research downgraded shares of Exxon Mobil from a “hold” rating to a “strong sell” rating and set a $79.00 price objective for the company. in a research report on Monday, July 22nd. Barclays assumed coverage on shares of Exxon Mobil in a research report on Monday, August 19th. They issued an “equal weight” rating and a $73.00 price objective for the company. Finally, Bank of America reissued a “buy” rating and issued a $100.00 price objective on shares of Exxon Mobil in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $81.83.
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 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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