Patten & Patten Inc. TN Has $10.92 Million Stake in Exxon Mobil Corporation (XOM)
Patten & Patten Inc. TN reduced its position in Exxon Mobil Corporation (NYSE:XOM) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,242 shares of the oil and gas company’s stock after selling 222 shares during the period. Exxon Mobil Corporation accounts for approximately 1.2% of Patten & Patten Inc. TN’s holdings, making the stock its 22nd largest position. Patten & Patten Inc. TN’s holdings in Exxon Mobil Corporation were worth $10,918,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the company. Thomas J. Herzfeld Advisors Inc. acquired a new stake in Exxon Mobil Corporation during the fourth quarter worth $101,000. Horan Securities Inc. acquired a new stake in Exxon Mobil Corporation during the first quarter worth $102,000. Riggs Asset Managment Co. Inc. raised its stake in Exxon Mobil Corporation by 27.2% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,366 shares of the oil and gas company’s stock worth $110,000 after buying an additional 292 shares during the last quarter. Watermark Asset Management Inc. acquired a new stake in Exxon Mobil Corporation during the first quarter worth $136,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Exxon Mobil Corporation by 13.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,850 shares of the oil and gas company’s stock worth $152,000 after buying an additional 220 shares during the last quarter. Institutional investors own 50.77% of the company’s stock.
Shares of Exxon Mobil Corporation (NYSE XOM) traded down 0.59% on Tuesday, reaching $77.77. The company’s stock had a trading volume of 3,946,007 shares. Exxon Mobil Corporation has a 1-year low of $77.70 and a 1-year high of $93.22. The company has a market capitalization of $329.52 billion, a price-to-earnings ratio of 28.04 and a beta of 0.81. The stock has a 50-day moving average price of $80.40 and a 200-day moving average price of $81.65.
Exxon Mobil Corporation (NYSE:XOM) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by $0.05. Exxon Mobil Corporation had a return on equity of 7.62% and a net margin of 4.75%. The firm had revenue of $62.88 billion for the quarter, compared to analysts’ expectations of $61.35 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Exxon Mobil Corporation will post $3.42 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be given a dividend of $0.77 per share. The ex-dividend date is Thursday, August 10th. This represents a $3.08 dividend on an annualized basis and a yield of 3.94%. Exxon Mobil Corporation’s payout ratio is 111.19%.
A number of research firms have weighed in on XOM. Vetr lowered Exxon Mobil Corporation from a “buy” rating to a “hold” rating and set a $79.60 target price on the stock. in a research note on Wednesday, August 9th. Zacks Investment Research upgraded Exxon Mobil Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Royal Bank Of Canada set a $90.00 target price on Exxon Mobil Corporation and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. HSBC Holdings plc set a $81.50 target price on Exxon Mobil Corporation and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. Finally, Scotiabank set a $86.00 target price on Exxon Mobil Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $84.98.
In other Exxon Mobil Corporation news, Director Steven Reinemund sold 1,100 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $80.23, for a total transaction of $88,253.00. Following the completion of the sale, the director now directly owns 43,125 shares of the company’s stock, valued at approximately $3,459,918.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by company insiders.
About Exxon Mobil Corporation
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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