Exxon Mobil Corp. (XOM) Stake Decreased by Hanson & Doremus Investment Management
Hanson & Doremus Investment Management lowered its stake in Exxon Mobil Corp. (NYSE:XOM) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,185 shares of the company’s stock after selling 644 shares during the period. Exxon Mobil Corp. makes up about 1.0% of Hanson & Doremus Investment Management’s portfolio, making the stock its 27th largest position. Hanson & Doremus Investment Management’s holdings in Exxon Mobil Corp. were worth $2,267,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. raised its stake in Exxon Mobil Corp. by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 111,095,583 shares of the company’s stock worth $9,286,480,000 after buying an additional 1,455,454 shares in the last quarter. BlackRock Fund Advisors raised its stake in Exxon Mobil Corp. by 1.4% in the first quarter. BlackRock Fund Advisors now owns 59,669,140 shares of the company’s stock worth $4,987,743,000 after buying an additional 814,931 shares in the last quarter. Geode Capital Management LLC raised its stake in Exxon Mobil Corp. by 2.6% in the first quarter. Geode Capital Management LLC now owns 35,360,347 shares of the company’s stock worth $2,950,065,000 after buying an additional 879,369 shares in the last quarter. Norges Bank purchased a new stake in Exxon Mobil Corp. during the fourth quarter worth about $2,745,822,000. Finally, BlackRock Group LTD raised its stake in Exxon Mobil Corp. by 2.2% in the first quarter. BlackRock Group LTD now owns 34,632,830 shares of the company’s stock worth $2,894,959,000 after buying an additional 759,438 shares in the last quarter. Institutional investors and hedge funds own 50.42% of the company’s stock.
Exxon Mobil Corp. (NYSE:XOM) traded up 0.92% during trading on Wednesday, reaching $83.30. The company’s stock had a trading volume of 15,055,213 shares. The firm has a market cap of $345.42 billion, a P/E ratio of 33.08 and a beta of 0.78. The stock’s 50 day moving average is $87.11 and its 200-day moving average is $88.13. Exxon Mobil Corp. has a 52 week low of $71.55 and a 52 week high of $95.55.
Exxon Mobil Corp. (NYSE:XOM) last issued its earnings results on Friday, July 29th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.23. Exxon Mobil Corp. had a return on equity of 5.94% and a net margin of 4.51%. The business had revenue of $57.69 billion for the quarter, compared to the consensus estimate of $60.23 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The business’s revenue was down 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Exxon Mobil Corp. will post $2.31 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. Exxon Mobil Corp.’s dividend payout ratio is currently 119.05%.
A number of research firms have recently issued reports on XOM. Jefferies Group reiterated a “hold” rating on shares of Exxon Mobil Corp. in a research note on Sunday, July 10th. Wells Fargo & Co. reiterated an “outperform” rating on shares of Exxon Mobil Corp. in a research note on Wednesday, June 1st. Vetr upgraded shares of Exxon Mobil Corp. from a “hold” rating to a “buy” rating and set a $93.34 price objective on the stock in a research note on Tuesday, May 31st. Credit Suisse Group AG reiterated a “sell” rating and set a $78.00 price objective on shares of Exxon Mobil Corp. in a research note on Thursday, June 2nd. Finally, Bank of America Corp. downgraded shares of Exxon Mobil Corp. from a “buy” rating to a “neutral” rating and set a $96.00 price target for the company. in a research report on Thursday, June 2nd. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $86.69.
In other news, VP Robert Stuart Franklin sold 13,855 shares of Exxon Mobil Corp. stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $87.93, for a total transaction of $1,218,270.15. Following the completion of the transaction, the vice president now directly owns 213,256 shares in the company, valued at approximately $18,751,600.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.
About Exxon Mobil Corp.
Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas, manufacturing of petroleum products, and transportation and sale of crude oil, natural gas and petroleum products. The Company also manufactures and markets petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and various specialty products.
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