MetLife Investment Management LLC lessened its stake in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,026,589 shares of the oil and gas company’s stock after selling 36,254 shares during the period. Exxon Mobil accounts for 0.8% of MetLife Investment Management LLC’s portfolio, making the stock its 13th largest holding. MetLife Investment Management LLC’s holdings in Exxon Mobil were worth $110,102,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XOM. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Exxon Mobil by 100,169.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,032,339,935 shares of the oil and gas company’s stock valued at $110,718,458,000 after acquiring an additional 1,031,310,373 shares during the period. FMR LLC boosted its position in shares of Exxon Mobil by 1.9% in the first quarter. FMR LLC now owns 144,949,334 shares of the oil and gas company’s stock valued at $15,895,144,000 after acquiring an additional 2,680,850 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of Exxon Mobil by 140,855.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company’s stock valued at $13,604,575,000 after acquiring an additional 123,254,064 shares during the period. Geode Capital Management LLC boosted its position in shares of Exxon Mobil by 0.7% in the first quarter. Geode Capital Management LLC now owns 73,871,122 shares of the oil and gas company’s stock valued at $8,084,883,000 after acquiring an additional 520,794 shares during the period. Finally, Morgan Stanley boosted its position in shares of Exxon Mobil by 11.9% in the fourth quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock valued at $5,788,398,000 after acquiring an additional 5,566,797 shares during the period. Institutional investors and hedge funds own 58.53% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on XOM. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 price objective on shares of Exxon Mobil in a research report on Thursday, October 12th. Sanford C. Bernstein assumed coverage on Exxon Mobil in a research report on Tuesday, October 17th. They issued an “outperform” rating and a $140.00 target price for the company. Bank of America raised their target price on Exxon Mobil from $145.00 to $150.00 in a research report on Wednesday, September 27th. Redburn Partners raised Exxon Mobil from a “sell” rating to a “neutral” rating and raised their target price for the stock from $100.00 to $105.00 in a research report on Thursday, August 31st. Finally, Jefferies Financial Group raised their target price on Exxon Mobil from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $129.25.
Insider Buying and Selling
In related news, VP Darrin L. Talley sold 1,500 shares of Exxon Mobil stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $115.00, for a total value of $172,500.00. Following the completion of the sale, the vice president now directly owns 27,772 shares in the company, valued at $3,193,780. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Jeffrey W. Ubben acquired 250,000 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $105.97 per share, for a total transaction of $26,492,500.00. Following the completion of the transaction, the director now directly owns 2,077,000 shares in the company, valued at $220,099,690. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Darrin L. Talley sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $115.00, for a total value of $172,500.00. Following the transaction, the vice president now owns 27,772 shares of the company’s stock, valued at $3,193,780. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Exxon Mobil Price Performance
Shares of NYSE:XOM traded down $0.05 during midday trading on Monday, reaching $104.91. The company’s stock had a trading volume of 5,735,588 shares, compared to its average volume of 16,891,416. Exxon Mobil Co. has a fifty-two week low of $98.02 and a fifty-two week high of $120.70. The company has a market capitalization of $415.75 billion, a P/E ratio of 10.52, a P/E/G ratio of 3.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.42 and a quick ratio of 1.08. The business’s fifty day simple moving average is $110.60 and its 200-day simple moving average is $108.06.
Exxon Mobil (NYSE:XOM – Get Free Report) last announced its earnings results on Friday, October 27th. The oil and gas company reported $2.27 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.09). Exxon Mobil had a net margin of 11.56% and a return on equity of 20.72%. The business had revenue of $90.76 billion during the quarter, compared to analyst estimates of $93.41 billion. During the same quarter last year, the business posted $4.45 earnings per share. The business’s quarterly revenue was down 19.0% compared to the same quarter last year. As a group, equities research analysts expect that Exxon Mobil Co. will post 9.3 EPS for the current fiscal year.
Exxon Mobil Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Wednesday, November 15th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.62%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.91. The ex-dividend date is Tuesday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is presently 37.74%.
About Exxon Mobil
Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.
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