Griffin Asset Management Inc. Acquires New Stake in Exxon Mobil Co. (XOM)
Griffin Asset Management Inc. acquired a new stake in shares of Exxon Mobil Co. (NYSE:XOM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 221,117 shares of the oil and gas company’s stock, valued at approximately $17,851,000. Exxon Mobil accounts for 4.8% of Griffin Asset Management Inc.’s investment portfolio, making the stock its largest position.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Asset Management Advisors LLC boosted its stake in Exxon Mobil by 0.3% in the 2nd quarter. Asset Management Advisors LLC now owns 2,515 shares of the oil and gas company’s stock valued at $203,000 after buying an additional 7 shares in the last quarter. Horizon Investment Services LLC boosted its stake in Exxon Mobil by 0.4% in the 1st quarter. Horizon Investment Services LLC now owns 4,787 shares of the oil and gas company’s stock valued at $393,000 after buying an additional 20 shares in the last quarter. Jag Capital Management LLC boosted its stake in Exxon Mobil by 0.5% in the 2nd quarter. Jag Capital Management LLC now owns 5,635 shares of the oil and gas company’s stock valued at $455,000 after buying an additional 26 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its stake in Exxon Mobil by 1.3% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,430 shares of the oil and gas company’s stock valued at $196,000 after buying an additional 30 shares in the last quarter. Finally, Lehman Financial Resources Inc. boosted its stake in Exxon Mobil by 0.5% in the 2nd quarter. Lehman Financial Resources Inc. now owns 7,176 shares of the oil and gas company’s stock valued at $579,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 51.18% of the company’s stock.
Several analysts recently commented on the company. Cowen reaffirmed a “buy” rating and issued a $100.00 price target on shares of Exxon Mobil in a research note on Tuesday, September 19th. Zacks Investment Research lowered Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Piper Jaffray Companies set a $76.00 price target on Exxon Mobil and gave the company a “hold” rating in a research note on Friday, August 25th. Goldman Sachs Group set a $85.00 price target on Exxon Mobil and gave the company a “neutral” rating in a research note on Tuesday, October 3rd. Finally, BMO Capital Markets set a $80.00 price target on Exxon Mobil and gave the company a “hold” rating in a research note on Wednesday, October 18th. Six analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Exxon Mobil has a consensus rating of “Hold” and a consensus price target of $86.32.
Shares of Exxon Mobil Co. (NYSE XOM) opened at $83.03 on Monday. The firm has a market capitalization of $351,679.78, a price-to-earnings ratio of 23.31, a PEG ratio of 1.74 and a beta of 0.83. Exxon Mobil Co. has a 52-week low of $76.05 and a 52-week high of $91.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.54 and a current ratio of 0.85.
Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, October 27th. The oil and gas company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.04. The company had revenue of $66.17 billion during the quarter, compared to the consensus estimate of $63.51 billion. Exxon Mobil had a return on equity of 8.21% and a net margin of 5.14%. During the same quarter in the previous year, the company posted $0.63 earnings per share. research analysts forecast that Exxon Mobil Co. will post 3.65 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Monday, November 13th were given a dividend of $0.77 per share. The ex-dividend date was Friday, November 10th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.71%. Exxon Mobil’s payout ratio is currently 100.33%.
In other news, VP Neil A. Chapman sold 12,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $83.05, for a total transaction of $996,600.00. Following the completion of the sale, the vice president now owns 291,385 shares in the company, valued at $24,199,524.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Bradley W. Corson sold 19,500 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $83.01, for a total value of $1,618,695.00. Following the completion of the sale, the vice president now owns 229,774 shares of the company’s stock, valued at approximately $19,073,539.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,357 shares of company stock valued at $4,273,910. 0.08% of the stock is currently owned by corporate insiders.
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About Exxon Mobil
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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