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Hartford Investment Management Co. Boosts Stake in Exxon Mobil Co. (NYSE:XOM)

By August 19, 2019 No Comments

Hartford Investment Management Co. raised its stake in Exxon Mobil Co. (NYSE:XOM) by 0.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 573,737 shares of the oil and gas company’s stock after purchasing an additional 1,883 shares during the period. Exxon Mobil accounts for approximately 1.2% of Hartford Investment Management Co.’s holdings, making the stock its 10th biggest holding. Hartford Investment Management Co.’s holdings in Exxon Mobil were worth $43,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its stake 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 buying an additional 3,038,704 shares during the period. Thoroughbred Financial Services LLC raised its stake in shares of Exxon Mobil by 7,471.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,771,803 shares of the oil and gas company’s stock valued at $177,180,000 after buying an additional 1,748,402 shares in the last quarter. Nomura Holdings Inc. raised its stake in shares of 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 valued at $31,259,000 after buying an additional 809,199 shares in the last quarter. Inlet Private Wealth LLC acquired a new position in shares of Exxon Mobil in the 4th quarter valued at $48,697,000. Finally, Royal London Asset Management Ltd. raised its stake in shares of 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 valued at $165,903,000 after buying an additional 587,387 shares in the last quarter. 54.49% of the stock is owned by institutional investors.

XOM traded up $1.05 during trading on Friday, reaching $68.30. The company had a trading volume of 12,249,800 shares, compared to its average volume of 12,310,645. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.47. The company has a market cap of $284.54 billion, a P/E ratio of 13.85, a PEG ratio of 1.94 and a beta of 0.97. Exxon Mobil Co. has a 12 month low of $64.65 and a 12 month high of $87.36. The business’s fifty day moving average price is $74.19 and its 200 day moving average price is $76.91.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.05. Exxon Mobil had a return on equity of 9.16% and a net margin of 6.30%. The company had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $64.47 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that Exxon Mobil Co. will post 3.24 EPS for the current fiscal year.

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

In other Exxon Mobil news, VP Robert N. Schleckser sold 9,345 shares of the 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 transaction, the vice president now directly owns 189,800 shares in the company, valued at approximately $13,445,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is currently owned by corporate insiders.

A number of research analysts have weighed in on the stock. HSBC reaffirmed a “neutral” rating and issued a $86.50 price target on shares of Exxon Mobil in a research note on Thursday, May 23rd. Goldman Sachs Group reiterated a “hold” rating and issued a $80.00 price objective on shares of Exxon Mobil in a report on Monday, April 29th. Credit Suisse Group set a $74.00 target price on shares of Exxon Mobil and gave the stock a “neutral” rating in a report on Friday, August 2nd. 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. Finally, JPMorgan Chase & Co. set a $83.00 price objective on shares of Exxon Mobil and gave the stock a “hold” rating in a research report on Sunday, August 4th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $82.59.

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.

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

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