Exxon Mobil Corporation (NYSE:XOM) Position Cut by Allen Investment Management LLC
Allen Investment Management LLC reduced its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 21.6% during the first quarter, Holdings Channel reports. The institutional investor owned 2,581 shares of the oil and gas company’s stock after selling 710 shares during the period. Allen Investment Management LLC’s holdings in Exxon Mobil Corporation were worth $212,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Rosenbaum Jay D. increased its stake in shares of Exxon Mobil Corporation by 10.6% in the first quarter. Rosenbaum Jay D. now owns 17,951 shares of the oil and gas company’s stock worth $1,473,000 after buying an additional 1,725 shares in the last quarter. Tyers Asset Management LLC bought a new stake in shares of Exxon Mobil Corporation during the fourth quarter worth $12,144,000. Oakmont Partners LLC increased its stake in shares of Exxon Mobil Corporation by 7.8% in the first quarter. Oakmont Partners LLC now owns 7,330 shares of the oil and gas company’s stock worth $601,000 after buying an additional 532 shares in the last quarter. Merriman Wealth Management LLC increased its stake in shares of Exxon Mobil Corporation by 16.6% in the first quarter. Merriman Wealth Management LLC now owns 13,249 shares of the oil and gas company’s stock worth $1,087,000 after buying an additional 1,891 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Exxon Mobil Corporation by 13.6% in the first quarter. Gradient Investments LLC now owns 105,261 shares of the oil and gas company’s stock worth $8,632,000 after buying an additional 12,573 shares in the last quarter. 50.59% of the stock is currently owned by institutional investors and hedge funds.
Exxon Mobil Corporation (NYSE:XOM) traded down 0.3927% during mid-day trading on Friday, reaching $78.6599. 2,804,381 shares of the company traded hands. The company’s 50 day moving average price is $80.58 and its 200 day moving average price is $81.80. The firm has a market capitalization of $333.29 billion, a P/E ratio of 28.3561 and a beta of 0.81. Exxon Mobil Corporation has a 12-month low of $78.27 and a 12-month high of $93.22.
Exxon Mobil Corporation (NYSE:XOM) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by $0.05. Exxon Mobil Corporation had a net margin of 4.75% and a return on equity of 7.62%. The company had revenue of $62.88 billion for the quarter, compared to the consensus estimate of $61.35 billion. During the same period in the previous year, the business earned $0.41 EPS. Exxon Mobil Corporation’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts predict 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. Investors of record on Monday, August 14th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Thursday, August 10th. Exxon Mobil Corporation’s payout ratio is currently 111.19%.
A number of equities research analysts recently weighed in on XOM shares. BMO Capital Markets set a $78.00 target price on shares of Exxon Mobil Corporation and gave the company a “hold” rating in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Exxon Mobil Corporation from a “sell” rating to a “hold” rating in a research report on Monday. BNP Paribas reiterated a “sell” rating and set a $70.00 price target on shares of Exxon Mobil Corporation in a research report on Wednesday, July 5th. Vetr upgraded shares of Exxon Mobil Corporation from a “buy” rating to a “strong-buy” rating and set a $89.82 price target on the stock in a research report on Monday, July 10th. Finally, Morgan Stanley set a $81.00 price target on shares of Exxon Mobil Corporation and gave the company a “sell” rating in a research report on Tuesday, July 11th. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.98.
In related news, Director Steven Reinemund sold 1,100 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $80.23, for a total transaction of $88,253.00. Following the sale, the director now owns 43,125 shares of the company’s stock, valued at $3,459,918.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by company insiders.
Exxon Mobil Corporation Company Profile
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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