Panagora Asset Management Inc. lifted its position in Exxon Mobil Co. (NYSE:XOM) by 174.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,953,079 shares of the oil and gas company’s stock after acquiring an additional 1,242,711 shares during the period. Exxon Mobil makes up 0.6% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 27th largest position. Panagora Asset Management Inc.’s holdings in Exxon Mobil were worth $114,880,000 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Exxon Mobil by 12.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 783,537 shares of the oil and gas company’s stock valued at $49,426,000 after acquiring an additional 89,467 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Exxon Mobil by 1.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 39,050 shares of the oil and gas company’s stock worth $2,464,000 after buying an additional 650 shares in the last quarter. Dynamic Advisor Solutions LLC raised its position in shares of Exxon Mobil by 1.7% during the second quarter. Dynamic Advisor Solutions LLC now owns 48,069 shares of the oil and gas company’s stock worth $3,032,000 after purchasing an additional 793 shares during the period. AGF Investments Inc. raised its position in shares of Exxon Mobil by 17.6% during the second quarter. AGF Investments Inc. now owns 1,065,358 shares of the oil and gas company’s stock worth $67,203,000 after purchasing an additional 159,078 shares during the period. Finally, Andesa Financial Management Inc. raised its position in shares of Exxon Mobil by 6.3% during the second quarter. Andesa Financial Management Inc. now owns 9,658 shares of the oil and gas company’s stock worth $608,000 after purchasing an additional 570 shares during the period. Institutional investors own 51.71% of the company’s stock.
In other news, VP Leonard M. Fox sold 7,300 shares of the firm’s stock in a transaction dated Tuesday, December 14th. The shares were sold at an average price of $61.81, for a total value of $451,213.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Angelakis purchased 5,000 shares of the stock in a transaction dated Wednesday, November 3rd. The stock was purchased at an average price of $64.00 per share, for a total transaction of $320,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 5,544 shares of company stock worth $352,640 and have sold 28,400 shares worth $1,771,158. 0.05% of the stock is owned by corporate insiders.
Exxon Mobil (NYSE:XOM) last announced its earnings results on Thursday, October 28th. The oil and gas company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.02. The company had revenue of $73.79 billion during the quarter, compared to analyst estimates of $72.05 billion. Exxon Mobil had a negative net margin of 2.39% and a positive return on equity of 8.66%. The firm’s quarterly revenue was up 59.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) earnings per share. On average, research analysts expect that Exxon Mobil Co. will post 5.07 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 10th. Stockholders of record on Friday, November 12th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend was Wednesday, November 10th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.87. Exxon Mobil’s payout ratio is -253.24%.
A number of research analysts have recently weighed in on XOM shares. Exane BNP Paribas downgraded Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $60.00 price target on the stock. in a report on Monday, October 11th. Wells Fargo & Company boosted their price target on Exxon Mobil from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 1st. Jefferies Financial Group set a $59.00 price target on Exxon Mobil in a research report on Wednesday, December 1st. Barclays boosted their price target on Exxon Mobil from $71.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 8th. Finally, BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research report on Monday, October 11th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil has an average rating of “Hold” and a consensus price target of $66.98.
About Exxon Mobil
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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