Iowa State Bank increased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 9.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,426 shares of the oil and gas company’s stock after buying an additional 5,568 shares during the period. Iowa State Bank’s holdings in Exxon Mobil were worth $3,486,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC raised its stake in Exxon Mobil by 6.8% during the fourth quarter. FMR LLC now owns 70,602,466 shares of the oil and gas company’s stock worth $2,910,233,000 after buying an additional 4,470,829 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Exxon Mobil by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,904,485 shares of the oil and gas company’s stock worth $1,768,522,000 after buying an additional 2,630,031 shares during the last quarter. Norges Bank bought a new position in Exxon Mobil during the fourth quarter worth $1,648,683,000. Morgan Stanley raised its stake in Exxon Mobil by 25.3% during the fourth quarter. Morgan Stanley now owns 24,392,033 shares of the oil and gas company’s stock worth $1,005,441,000 after buying an additional 4,927,441 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Exxon Mobil by 223.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 15,656,605 shares of the oil and gas company’s stock worth $645,365,000 after buying an additional 10,818,671 shares during the last quarter. 50.90% of the stock is owned by institutional investors and hedge funds.
In other Exxon Mobil news, Director Michael J. Angelakis acquired 25,000 shares of the business’s stock in a transaction dated Monday, March 1st. The stock was bought at an average price of $57.16 per share, with a total value of $1,429,000.00. Following the purchase, the director now owns 8,000 shares of the company’s stock, valued at $457,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is currently owned by corporate insiders.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Monday, February 1st. The oil and gas company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. Exxon Mobil had a net margin of 3.24% and a return on equity of 2.09%. The business had revenue of $46.54 billion during the quarter, compared to analysts’ expectations of $48.76 billion. During the same quarter in the previous year, the company earned $1.33 EPS. The business’s quarterly revenue was down 30.7% compared to the same quarter last year. On average, equities analysts predict that Exxon Mobil Co. will post -0.52 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Stockholders of record on Wednesday, February 10th were paid a $0.87 dividend. The ex-dividend date of this dividend was Tuesday, February 9th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.14%. Exxon Mobil’s dividend payout ratio (DPR) is 154.67%.
A number of equities research analysts have commented on XOM shares. Credit Suisse Group raised their price target on shares of Exxon Mobil from $62.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, March 4th. Raymond James upgraded shares of Exxon Mobil from an “underperform” rating to a “market perform” rating in a report on Wednesday. Exane BNP Paribas upgraded shares of Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $45.50 price target for the company in a report on Monday, February 8th. Mizuho started coverage on shares of Exxon Mobil in a report on Tuesday, January 12th. They issued a “neutral” rating and a $49.00 price target for the company. Finally, Barclays raised their price target on shares of Exxon Mobil from $50.00 to $65.00 in a report on Friday, February 26th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $53.26.
About Exxon Mobil
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; and manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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