Investment Management Corp of Ontario Increases Stake in Exxon Mobil Co. (NYSE:XOM)

Investment Management Corp of Ontario raised its position in shares of Exxon Mobil Co. (NYSE:XOM) by 41.3% in the third quarter, Holdings Channel reports. The firm owned 279,054 shares of the oil and gas company’s stock after acquiring an additional 81,535 shares during the quarter. Exxon Mobil accounts for 0.7% of Investment Management Corp of Ontario’s holdings, making the stock its 21st biggest holding. Investment Management Corp of Ontario’s holdings in Exxon Mobil were worth $32,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in XOM. Massachusetts Financial Services Co. MA lifted its position in shares of Exxon Mobil by 532.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after buying an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of Exxon Mobil during the 2nd quarter valued at about $980,210,000. International Assets Investment Management LLC grew its position in shares of Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after acquiring an additional 6,805,982 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of a number of recent research reports. Mizuho lifted their price objective on Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, September 16th. Barclays reduced their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. Bank of America assumed coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Trading Up 0.5 %

NYSE XOM opened at $118.45 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The firm has a market capitalization of $520.60 billion, a PE ratio of 14.68, a P/E/G ratio of 4.95 and a beta of 0.89. The stock’s 50 day moving average is $119.76 and its 200 day moving average is $116.55.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter last year, the firm earned $2.27 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts forecast that Exxon Mobil Co. will post 7.94 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.99 per share. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s payout ratio is presently 49.32%.

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.