Grandfield & Dodd LLC reduced its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,210 shares of the oil and gas company’s stock after selling 985 shares during the period. Grandfield & Dodd LLC’s holdings in Exxon Mobil were worth $9,740,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keudell Morrison Wealth Management raised its holdings in Exxon Mobil by 1.4% in the third quarter. Keudell Morrison Wealth Management now owns 41,652 shares of the oil and gas company’s stock valued at $2,450,000 after acquiring an additional 592 shares in the last quarter. Center for Financial Planning Inc. raised its holdings in Exxon Mobil by 1.5% in the third quarter. Center for Financial Planning Inc. now owns 12,384 shares of the oil and gas company’s stock valued at $728,000 after acquiring an additional 180 shares in the last quarter. Ninety One UK Ltd acquired a new stake in Exxon Mobil in the third quarter valued at $14,702,000. Victory Capital Management Inc. raised its holdings in Exxon Mobil by 15.0% in the third quarter. Victory Capital Management Inc. now owns 1,500,210 shares of the oil and gas company’s stock valued at $88,242,000 after acquiring an additional 195,338 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Exxon Mobil by 2.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,595,986 shares of the oil and gas company’s stock valued at $93,877,000 after acquiring an additional 35,793 shares in the last quarter. 51.91% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. JPMorgan Chase & Co. set a $100.00 target price on shares of Exxon Mobil in a report on Tuesday, March 29th. Credit Suisse Group set a $76.00 price target on shares of Exxon Mobil in a research report on Friday, January 7th. StockNews.com upgraded shares of Exxon Mobil from a “hold” rating to a “buy” rating in a research report on Friday, April 8th. Bank of America increased their target price on shares of Exxon Mobil from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, February 15th. Finally, Royal Bank of Canada upgraded shares of Exxon Mobil from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $90.00 to $100.00 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $79.65.
Exxon Mobil (NYSE:XOM – Get Rating) last posted its quarterly earnings results on Tuesday, February 1st. The oil and gas company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.09. The business had revenue of $84.97 billion during the quarter, compared to analyst estimates of $84.58 billion. Exxon Mobil had a net margin of 8.07% and a return on equity of 13.67%. The firm’s revenue was up 82.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. Sell-side analysts forecast that Exxon Mobil Co. will post 9.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Thursday, February 10th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Wednesday, February 9th. Exxon Mobil’s payout ratio is presently 65.31%.
Exxon Mobil announced that its Board of Directors has initiated a stock repurchase program on Tuesday, February 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Exxon Mobil news, Director Jeffrey W. Ubben sold 1,500,000 shares of the stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $80.05, for a total transaction of $120,075,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Stephen A. Littleton sold 10,000 shares of the stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $81.29, for a total value of $812,900.00. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by company insiders.
Exxon Mobil Profile (Get Rating)
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.
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