Industry News

Sequent Asset Management LLC Decreases Position in Exxon Mobil Co. (NYSE:XOM)

By August 28, 2019 No Comments

Sequent Asset Management LLC lessened its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,946 shares of the oil and gas company’s stock after selling 2,768 shares during the period. Exxon Mobil accounts for 1.2% of Sequent Asset Management LLC’s holdings, making the stock its 20th biggest holding. Sequent Asset Management LLC’s holdings in Exxon Mobil were worth $1,681,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. FMR LLC increased its stake in 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 in the last quarter. Thoroughbred Financial Services LLC increased its stake in Exxon Mobil by 7,471.5% in the second 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 purchasing an additional 1,748,402 shares in the last quarter. Nomura Holdings Inc. increased its stake in Exxon Mobil by 224.9% in the fourth quarter. Nomura Holdings Inc. now owns 449,349 shares of the oil and gas company’s stock valued at $31,259,000 after purchasing an additional 809,199 shares in the last quarter. Inlet Private Wealth LLC bought a new stake in Exxon Mobil in the fourth quarter valued at $48,697,000. Finally, Royal London Asset Management Ltd. increased its stake in Exxon Mobil by 31.8% in the fourth 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 purchasing an additional 587,387 shares in the last quarter. Institutional investors own 54.48% of the company’s stock.

Shares of XOM stock traded down $0.63 during trading on Tuesday, reaching $67.22. 5,760,580 shares of the company’s stock traded hands, compared to its average volume of 12,996,709. The company has a market capitalization of $285.56 billion, a P/E ratio of 13.63, 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. The firm’s 50-day moving average is $72.64 and its 200 day moving average is $76.55. Exxon Mobil Co. has a 1 year low of $64.65 and a 1 year 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, beating the Zacks’ consensus estimate of $0.68 by $0.05. The company had revenue of $69.09 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.92 EPS. As a group, sell-side analysts predict that Exxon Mobil Co. will post 3.2 earnings per share for the current fiscal year.

The company 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 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Monday, August 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently 70.59%.

In related news, VP Robert N. Schleckser sold 9,345 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.

XOM has been the subject of several research analyst reports. Barclays initiated coverage on shares of Exxon Mobil in a research note on Monday, August 19th. They issued an “equal weight” rating and a $73.00 price target for the company. BMO Capital Markets began coverage on shares of Exxon Mobil in a research report on Tuesday, August 20th. They set a “market perform” rating and a $86.00 target price for the company. UBS Group decreased their target price on shares of Exxon Mobil from $87.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America reissued a “buy” rating and set a $100.00 target price on shares of Exxon Mobil in a research report on Monday, August 5th. Finally, Royal Bank of Canada reissued a “neutral” rating and set a $90.00 target price on shares of Exxon Mobil in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company. Exxon Mobil currently has a consensus rating of “Hold” and a consensus target price of $81.83.

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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