Exxon Mobil Corporation $XOM is Kornitzer Capital Management Inc. KS’s 9th Largest Position

Kornitzer Capital Management Inc. KS lowered its stake in Exxon Mobil Corporation (NYSE:XOM) by 0.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 694,131 shares of the oil and gas company’s stock after selling 4,838 shares during the period. Exxon Mobil comprises 1.5% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 9th largest position. Kornitzer Capital Management Inc. KS’s holdings in Exxon Mobil were worth $74,827,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in XOM. Eagle Capital Management LLC boosted its position in Exxon Mobil by 15.3% in the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after purchasing an additional 376 shares during the last quarter. Ironwood Wealth Management LLC. bought a new position in shares of Exxon Mobil in the 1st quarter worth approximately $200,000. Brucke Financial Inc. boosted its holdings in shares of Exxon Mobil by 2.1% in the first quarter. Brucke Financial Inc. now owns 6,792 shares of the oil and gas company’s stock worth $808,000 after buying an additional 142 shares during the last quarter. CNB Bank increased its holdings in Exxon Mobil by 5.7% during the first quarter. CNB Bank now owns 33,019 shares of the oil and gas company’s stock valued at $3,927,000 after buying an additional 1,780 shares during the last quarter. Finally, Total Wealth Planning & Management Inc. raised its position in Exxon Mobil by 19.6% in the first quarter. Total Wealth Planning & Management Inc. now owns 14,230 shares of the oil and gas company’s stock worth $1,692,000 after acquiring an additional 2,329 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on XOM. Morgan Stanley boosted their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Melius assumed coverage on Exxon Mobil in a report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price target for the company. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Thursday, October 9th. Finally, Bank of America raised their target price on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.58.

Exxon Mobil Stock Down 0.5%

Shares of XOM opened at $115.39 on Monday. The business’s 50 day moving average is $112.58 and its 200 day moving average is $109.56. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21. The company has a market capitalization of $491.94 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The business had revenue of $57.55 billion during the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, August 15th. Exxon Mobil’s payout ratio is currently 56.25%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Company Profile

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.