Industry News

Granite Investment Partners LLC Trims Stake in Exxon Mobil Co. (NYSE:XOM)

By September 1, 2019 No Comments

Granite Investment Partners LLC reduced its position in Exxon Mobil Co. (NYSE:XOM) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 32,061 shares of the oil and gas company’s stock after selling 511 shares during the period. Granite Investment Partners LLC’s holdings in Exxon Mobil were worth $2,457,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of XOM. FMR LLC increased its position in 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 increased its position in 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 increased its position in 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 increased its position in 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 increased its position in 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. 54.48% of the stock is owned by institutional investors and hedge funds.

XOM has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Exxon Mobil from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. Zacks Investment Research cut Exxon Mobil from a “hold” rating to a “strong sell” rating and set a $79.00 target price on the stock. in a research report on Monday, July 22nd. Independent Research set a $74.00 target price on Exxon Mobil and gave the stock a “neutral” rating in a research report on Thursday. Bank of America reiterated a “buy” rating and set a $100.00 target price on shares of Exxon Mobil in a research report on Monday, August 5th. Finally, UBS Group dropped their target price on Exxon Mobil from $87.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $81.50.

Shares of NYSE:XOM opened at $68.48 on Friday. The business’s 50 day simple moving average is $71.92 and its 200-day simple moving average is $76.42. The firm has a market capitalization of $289.75 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.47. Exxon Mobil Co. has a 12 month low of $64.65 and a 12 month high of $87.36.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.05. The business 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 quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 EPS. On average, equities analysts anticipate that Exxon Mobil Co. will post 3.2 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Monday, August 12th. Exxon Mobil’s dividend payout ratio (DPR) is 70.59%.

In other news, VP Robert N. Schleckser sold 9,345 shares of the business’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 transaction of $661,999.80. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is owned by insiders.

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

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