Highstreet Asset Management Inc. cut its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 23.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,621 shares of the oil and gas company’s stock after selling 11,547 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Exxon Mobil were worth $2,883,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of XOM. Massey Quick Simon & CO. LLC boosted its holdings in Exxon Mobil by 625.3% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 544 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 469 shares during the period. Asset Planning Services Ltd. boosted its holdings in Exxon Mobil by 1,984.0% during the second quarter. Asset Planning Services Ltd. now owns 521 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 496 shares during the period. INR Advisory Services LLC bought a new stake in Exxon Mobil during the fourth quarter valued at about $43,000. Evolution Wealth Advisors LLC bought a new stake in Exxon Mobil during the second quarter valued at about $45,000. Finally, Interactive Financial Advisors bought a new stake in Exxon Mobil during the first quarter valued at about $65,000. Institutional investors and hedge funds own 54.48% of the company’s stock.
XOM has been the subject of several research reports. Zacks Investment Research cut shares of Exxon Mobil from a “hold” rating to a “strong sell” rating and set a $79.00 target price for the company. in a research note on Monday, July 22nd. Berenberg Bank reiterated a “hold” rating and issued a $76.00 target price on shares of Exxon Mobil in a research note on Wednesday, August 7th. Royal Bank of Canada reiterated a “neutral” rating and issued a $90.00 target price on shares of Exxon Mobil in a research note on Friday, August 2nd. JPMorgan Chase & Co. set a $83.00 price target on shares of Exxon Mobil and gave the stock a “hold” rating in a research report on Sunday, August 4th. Finally, Morgan Stanley dropped their price target 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. Three equities 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. Exxon Mobil currently has an average rating of “Hold” and an average price target of $81.83.Shares of XOM stock traded down $2.08 on Friday, hitting $67.49. The stock had a trading volume of 11,711,461 shares, compared to its average volume of 12,611,894. The business has a 50 day moving average of $73.15 and a 200 day moving average of $76.66. The stock has a market cap of $294.36 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 2.03 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 earnings results on Friday, August 2nd. The oil and gas company reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.05. Exxon Mobil had a net margin of 6.30% and a return on equity of 9.16%. 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 company posted $0.92 earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, research analysts expect that Exxon Mobil Co. will post 3.2 earnings per share for the current fiscal year.
The business 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 dividend of $0.87 per share. The ex-dividend date is Monday, August 12th. This represents a $3.48 dividend on an annualized basis and a yield of 5.16%. Exxon Mobil’s dividend payout ratio (DPR) is presently 70.59%.
In related news, VP Robert N. Schleckser sold 9,345 shares of the firm’s 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 in the company, valued at $13,445,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.05% of the company’s stock.
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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