Invesco Ltd. lifted its position in Exxon Mobil Co. (NYSE:XOM) by 8.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 12,773,425 shares of the oil and gas company’s stock after acquiring an additional 962,444 shares during the period. Invesco Ltd.’s holdings in Exxon Mobil were worth $751,333,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi bought a new stake in shares of Exxon Mobil in the 2nd quarter worth approximately $986,290,000. GQG Partners LLC bought a new stake in shares of Exxon Mobil in the 2nd quarter worth approximately $899,097,000. State Street Corp lifted its holdings in shares of Exxon Mobil by 2.0% in the 2nd quarter. State Street Corp now owns 252,449,984 shares of the oil and gas company’s stock worth $15,924,545,000 after purchasing an additional 4,874,643 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Exxon Mobil by 33.5% in the 3rd quarter. Deutsche Bank AG now owns 16,479,686 shares of the oil and gas company’s stock worth $969,335,000 after purchasing an additional 4,139,065 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Exxon Mobil by 54.1% in the 2nd quarter. Prudential Financial Inc. now owns 8,281,740 shares of the oil and gas company’s stock worth $522,413,000 after purchasing an additional 2,908,018 shares during the last quarter. Institutional investors own 51.71% of the company’s stock.
Several brokerages have weighed in on XOM. Credit Suisse Group set a $76.00 target price on Exxon Mobil in a research note on Friday, January 7th. JPMorgan Chase & Co. set a $83.00 target price on Exxon Mobil in a research note on Tuesday, February 1st. The Goldman Sachs Group set a $88.00 target price on Exxon Mobil in a research note on Wednesday, February 2nd. Barclays lifted their target price on Exxon Mobil from $73.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, TheStreet raised Exxon Mobil from a “c+” rating to a “b-” rating in a research note on Wednesday, January 19th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Hold” and a consensus target price of $70.46.
In other news, VP Linda D. Ducharme sold 8,600 shares of the company’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $62.45, for a total value of $537,070.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James M. Spellings, Jr. sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 8th. The shares were sold at an average price of $62.63, for a total value of $782,875.00. The disclosure for this sale can be found here. Insiders have sold 1,538,400 shares of company stock worth $122,659,058 over the last 90 days. Corporate insiders own 0.05% of the company’s stock.
Shares of XOM opened at $80.26 on Wednesday. Exxon Mobil Co. has a 12-month low of $48.78 and a 12-month high of $83.08. The company has a quick ratio of 0.58, a current ratio of 0.90 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $339.79 billion, a price-to-earnings ratio of -57.74, a P/E/G ratio of 0.79 and a beta of 1.36. The stock’s 50-day moving average price is $67.86 and its 200 day moving average price is $62.39.
Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Tuesday, February 1st. The oil and gas company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.11. Exxon Mobil had a positive return on equity of 8.66% and a negative net margin of 2.39%. The firm had revenue of $84.97 billion for the quarter, compared to analyst estimates of $84.58 billion. During the same period in the previous year, the company posted $0.03 earnings per share. The company’s quarterly revenue was up 82.6% compared to the same quarter last year. Equities research analysts expect that Exxon Mobil Co. will post 5.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 10th. Investors of record on Thursday, February 10th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, February 9th. This represents a $3.52 annualized dividend and a yield of 4.39%. Exxon Mobil’s dividend payout ratio is -253.24%.
Exxon Mobil announced that its board has approved a share buyback program on Tuesday, February 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the oil and gas company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Exxon Mobil Profile
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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