Investors Buy Shares of Exxon Mobil (XOM) on Weakness Following Insider Selling
Investors purchased shares of Exxon Mobil Corporation (NYSE:XOM) on weakness during trading on Tuesday after an insider sold shares in the company. $210.02 million flowed into the stock on the tick-up and $133.23 million flowed out of the stock on the tick-down, for a money net flow of $76.79 million into the stock. Of all equities tracked, Exxon Mobil had the 21st highest net in-flow for the day. Exxon Mobil traded down ($0.53) for the day and closed at $82.89Specifically, VP Robert N. Schleckser sold 5,601 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $83.93, for a total transaction of $470,091.93. Following the sale, the vice president now owns 187,663 shares of the company’s stock, valued at $15,750,555.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James M. Spellings, Jr. sold 9,379 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $83.37, for a total value of $781,927.23. Following the sale, the insider now directly owns 220,000 shares in the company, valued at approximately $18,341,400. The disclosure for this sale can be found here. Insiders have sold 42,513 shares of company stock worth $3,465,657 over the last 90 days. 0.08% of the stock is owned by insiders.
A number of analysts have recently weighed in on the company. lowered Exxon Mobil from a “hold” rating to a “reduce” rating and cut their price objective for the stock from $83.60 to $77.00 in a research report on Tuesday, November 7th. Goldman Sachs Group set a $86.00 price objective on Exxon Mobil and gave the stock a “neutral” rating in a research report on Tuesday, November 7th. Wells Fargo & Company set a $84.00 price objective on Exxon Mobil and gave the stock a “neutral” rating in a research report on Monday, October 30th. TheStreet raised Exxon Mobil from a “c” rating to a “b-” rating in a research report on Friday, October 27th. Finally, UBS set a $83.00 price objective on Exxon Mobil and gave the stock a “neutral” rating in a research report on Monday. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $86.14.
The company has a market cap of $354,094.94, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.75 and a beta of 0.83. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.13.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.04. Exxon Mobil had a net margin of 5.14% and a return on equity of 8.21%. The company had revenue of $66.17 billion during the quarter, compared to the consensus estimate of $63.51 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. sell-side analysts forecast that Exxon Mobil Corporation will post 3.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 13th will be paid a $0.77 dividend. The ex-dividend date is Friday, November 10th. This represents a $3.08 annualized dividend and a yield of 3.74%. Exxon Mobil’s dividend payout ratio is presently 100.33%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWH Capital Management Inc. purchased a new position in Exxon Mobil in the second quarter valued at about $114,000. Horan Securities Inc. increased its holdings in Exxon Mobil by 20.8% in the second quarter. Horan Securities Inc. now owns 1,511 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 260 shares in the last quarter. Litman Gregory Asset Management LLC purchased a new position in Exxon Mobil in the third quarter valued at about $131,000. Watermark Asset Management Inc. purchased a new position in Exxon Mobil in the first quarter valued at about $136,000. Finally, Acrospire Investment Management LLC increased its holdings in Exxon Mobil by 172.7% in the second quarter. Acrospire Investment Management LLC now owns 1,737 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 51.18% of the company’s stock.
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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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