Industry News

Narwhal Capital Management Increases Holdings in Exxon Mobil Co. (NYSE:XOM)

By August 18, 2019 No Comments

Narwhal Capital Management lifted its position in Exxon Mobil Co. (NYSE:XOM) by 7.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,226 shares of the oil and gas company’s stock after purchasing an additional 5,152 shares during the period. Exxon Mobil accounts for about 1.2% of Narwhal Capital Management’s investment portfolio, making the stock its 27th biggest position. Narwhal Capital Management’s holdings in Exxon Mobil were worth $5,994,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Exxon Mobil by 6.8% in the first quarter. FMR LLC now owns 47,767,853 shares of the oil and gas company’s stock valued at $3,859,642,000 after purchasing an additional 3,038,704 shares during the period. Rhumbline Advisers boosted its holdings in shares of Exxon Mobil by 1.2% in the fourth quarter. Rhumbline Advisers now owns 7,776,722 shares of the oil and gas company’s stock valued at $530,295,000 after purchasing an additional 90,623 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Exxon Mobil by 1.3% in the fourth 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 purchasing an additional 76,282 shares during the period. First Trust Advisors LP lifted its holdings in Exxon Mobil by 17.3% during the second quarter. First Trust Advisors LP now owns 3,011,774 shares of the oil and gas company’s stock worth $230,792,000 after buying an additional 445,113 shares during the period. Finally, Strs Ohio lifted its holdings in Exxon Mobil by 0.6% during the fourth quarter. Strs Ohio now owns 2,784,429 shares of the oil and gas company’s stock worth $189,870,000 after buying an additional 17,205 shares during the period. Hedge funds and other institutional investors own 54.49% of the company’s stock.

A number of analysts have weighed in on XOM shares. DZ Bank upgraded Exxon Mobil from a “sell” rating to a “hold” rating and lowered their target price for the stock from $72.00 to $70.00 in a report on Tuesday, August 6th. Morgan Stanley lowered their target price on Exxon Mobil from $84.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. set a $83.00 target price on Exxon Mobil and gave the stock a “hold” rating in a report on Sunday, August 4th. HSBC restated a “neutral” rating and set a $86.50 target price on shares of Exxon Mobil in a report on Thursday, May 23rd. Finally, Bank of America restated a “buy” rating and set a $100.00 target price on shares of Exxon Mobil in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $82.59.

Shares of XOM stock opened at $68.30 on Friday. The business’s fifty day simple moving average is $74.19 and its 200-day simple moving average is $76.91. The company has a market cap of $286.23 billion, a PE ratio of 15.92, a PEG ratio of 1.97 and a beta of 0.97. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 0.10. Exxon Mobil Co. has a 12-month low of $64.65 and a 12-month high of $87.36.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. The business had revenue of $69.09 billion for 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 in the prior year, the firm posted $0.92 earnings per share. On average, equities analysts forecast that Exxon Mobil Co. will post 3.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 5.10%. The ex-dividend date is Monday, August 12th. Exxon Mobil’s payout ratio is presently 70.59%.

In other news, VP Robert N. Schleckser sold 9,345 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $13,445,432. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate 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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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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