Exxon Mobil Co. (NYSE:XOM) Position Lessened by Tortoise Investment Management LLC

Tortoise Investment Management LLC trimmed its position in shares of Exxon Mobil Co. (NYSE:XOMGet Rating) by 5.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,079 shares of the oil and gas company’s stock after selling 181 shares during the quarter. Tortoise Investment Management LLC’s holdings in Exxon Mobil were worth $254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Weaver Consulting Group raised its holdings in shares of Exxon Mobil by 6.9% during the first quarter. Weaver Consulting Group now owns 7,849 shares of the oil and gas company’s stock worth $648,000 after acquiring an additional 510 shares in the last quarter. Arete Wealth Advisors LLC boosted its stake in shares of Exxon Mobil by 1.0% during the 1st quarter. Arete Wealth Advisors LLC now owns 29,278 shares of the oil and gas company’s stock worth $2,418,000 after acquiring an additional 279 shares in the last quarter. Delta Financial Advisors LLC increased its holdings in shares of Exxon Mobil by 1.3% during the 1st quarter. Delta Financial Advisors LLC now owns 19,109 shares of the oil and gas company’s stock valued at $1,578,000 after acquiring an additional 244 shares during the last quarter. Balentine LLC raised its stake in shares of Exxon Mobil by 74.6% in the 1st quarter. Balentine LLC now owns 123,273 shares of the oil and gas company’s stock valued at $10,181,000 after acquiring an additional 52,670 shares in the last quarter. Finally, Twin Capital Management Inc. boosted its position in Exxon Mobil by 46.8% during the first quarter. Twin Capital Management Inc. now owns 113,452 shares of the oil and gas company’s stock worth $9,370,000 after purchasing an additional 36,161 shares during the period. 54.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on XOM shares. Argus upped their target price on Exxon Mobil from $92.00 to $104.00 in a research report on Monday, May 9th. Evercore ISI raised Exxon Mobil from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $88.00 to $120.00 in a research report on Tuesday, June 7th. They noted that the move was a valuation call. The Goldman Sachs Group upped their target price on Exxon Mobil from $104.00 to $117.00 and gave the stock a “buy” rating in a research report on Wednesday, June 8th. Royal Bank of Canada raised Exxon Mobil from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $90.00 to $100.00 in a research report on Thursday, April 21st. Finally, StockNews.com lowered Exxon Mobil from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $96.40.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $96.65, for a total transaction of $241,625.00. Following the sale, the vice president now owns 32,510 shares in the company, valued at $3,142,091.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $96.65, for a total transaction of $241,625.00. Following the sale, the vice president now owns 32,510 shares in the company, valued at $3,142,091.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Darrin L. Talley sold 2,147 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $102.81, for a total value of $220,733.07. Following the sale, the vice president now owns 30,363 shares in the company, valued at approximately $3,121,620.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,147 shares of company stock worth $698,858. Insiders own 0.04% of the company’s stock.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $88.45 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.16 and a quick ratio of 0.87. The stock has a fifty day moving average price of $90.93 and a two-hundred day moving average price of $85.91. Exxon Mobil Co. has a 52-week low of $52.10 and a 52-week high of $105.57. The firm has a market capitalization of $372.60 billion, a P/E ratio of 9.68, a P/E/G ratio of 0.31 and a beta of 1.09.

Exxon Mobil (NYSE:XOMGet Rating) last released its quarterly earnings data on Friday, July 29th. The oil and gas company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.74 by $0.40. The firm had revenue of $115.68 billion during the quarter, compared to analyst estimates of $111.67 billion. Exxon Mobil had a return on equity of 23.82% and a net margin of 10.67%. The business’s revenue for the quarter was up 70.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, analysts anticipate that Exxon Mobil Co. will post 12.35 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 12th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Thursday, August 11th. Exxon Mobil’s payout ratio is presently 38.51%.

About Exxon Mobil

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Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.

Further Reading

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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