Acorn Financial Advisory Services Inc. ADV lessened its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,990 shares of the oil and gas company’s stock after selling 9,402 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Exxon Mobil were worth $1,132,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in XOM. Public Employees Retirement Association of Colorado boosted its position in Exxon Mobil by 5.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 801,002 shares of the oil and gas company’s stock valued at $30,414,000 after acquiring an additional 44,304 shares in the last quarter. State Street Corp boosted its position in shares of Exxon Mobil by 2.1% in the 1st quarter. State Street Corp now owns 206,504,078 shares of the oil and gas company’s stock worth $7,840,960,000 after purchasing an additional 4,222,270 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Exxon Mobil in the 1st quarter worth $515,000. APG Asset Management N.V. boosted its position in shares of Exxon Mobil by 11.4% in the 1st quarter. APG Asset Management N.V. now owns 6,418,790 shares of the oil and gas company’s stock worth $243,721,000 after purchasing an additional 659,412 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Exxon Mobil by 18.6% in the 1st quarter. Morgan Stanley now owns 20,533,386 shares of the oil and gas company’s stock worth $779,653,000 after purchasing an additional 3,223,089 shares in the last quarter. 50.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Exxon Mobil stock opened at $34.10 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.93 and a debt-to-equity ratio of 0.25. Exxon Mobil Co. has a twelve month low of $30.11 and a twelve month high of $73.12. The business has a 50-day moving average price of $36.36 and a 200 day moving average price of $42.03. The firm has a market cap of $144.18 billion, a PE ratio of 20.30 and a beta of 1.26.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.09). Exxon Mobil had a net margin of 3.24% and a return on equity of 2.09%. The business had revenue of $32.61 billion during the quarter, compared to analysts’ expectations of $38.16 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. Exxon Mobil’s revenue for the quarter was down 52.8% on a year-over-year basis. On average, sell-side analysts expect that Exxon Mobil Co. will post -0.32 EPS for the current year.
A number of analysts have recently weighed in on the company. Morgan Stanley raised their price objective on Exxon Mobil from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, August 21st. SunTrust Banks initiated coverage on Exxon Mobil in a research report on Thursday, July 23rd. They set a “hold” rating and a $41.00 price target for the company. Cowen reaffirmed a “hold” rating and set a $34.00 price target on shares of Exxon Mobil in a research report on Thursday, July 2nd. Scotiabank raised Exxon Mobil from a “sector underperform” rating to a “sector perform” rating and set a $45.00 price target for the company in a research report on Wednesday, September 23rd. Finally, Raymond James reaffirmed a “sell” rating on shares of Exxon Mobil in a research report on Friday, September 18th. Four equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.25.
About Exxon Mobil
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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