State Treasurer State of Michigan increased its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,392,532 shares of the oil and gas company’s stock after buying an additional 30,500 shares during the period. Exxon Mobil Corporation accounts for about 0.8% of State Treasurer State of Michigan’s holdings, making the stock its 22nd largest position. State Treasurer State of Michigan’s holdings in Exxon Mobil Corporation were worth $112,419,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cordasco Financial Network boosted its stake in Exxon Mobil Corporation by 0.6% in the first quarter. Cordasco Financial Network now owns 2,332 shares of the oil and gas company’s stock valued at $191,000 after buying an additional 15 shares during the last quarter. Horizon Investment Services LLC boosted its stake in Exxon Mobil Corporation by 0.4% in the first quarter. Horizon Investment Services LLC now owns 4,787 shares of the oil and gas company’s stock valued at $393,000 after buying an additional 20 shares during the last quarter. LifePlan Financial Group Inc boosted its stake in Exxon Mobil Corporation by 0.5% in the first quarter. LifePlan Financial Group Inc now owns 4,514 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 24 shares during the last quarter. Nadler Financial Group Inc. boosted its stake in Exxon Mobil Corporation by 0.3% in the first quarter. Nadler Financial Group Inc. now owns 15,864 shares of the oil and gas company’s stock valued at $1,301,000 after buying an additional 40 shares during the last quarter. Finally, Harwood Advisory Group LLC boosted its stake in Exxon Mobil Corporation by 0.5% in the second quarter. Harwood Advisory Group LLC now owns 8,271 shares of the oil and gas company’s stock valued at $668,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 50.77% of the company’s stock.

Shares of Exxon Mobil Corporation (NYSE XOM) traded up 0.50% on Friday, reaching $76.64. 14,324,342 shares of the company’s stock were exchanged. The stock has a market cap of $324.73 billion, a P/E ratio of 27.63 and a beta of 0.81. Exxon Mobil Corporation has a 52-week low of $76.05 and a 52-week high of $93.22. The company’s 50 day moving average price is $79.94 and its 200-day moving average price is $81.47.

Exxon Mobil Corporation (NYSE:XOM) last issued its 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 during the quarter, compared to the consensus estimate of $61.35 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. Exxon Mobil Corporation’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts forecast that Exxon Mobil Corporation will post $3.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, August 10th. Exxon Mobil Corporation’s dividend payout ratio is currently 111.19%.

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Several equities research analysts have weighed in on the stock. UBS AG set a $77.00 price objective on shares of Exxon Mobil Corporation and gave the company a “sell” rating in a research report on Tuesday, April 25th. Argus restated a “focus list” rating and issued a $104.00 price objective (up previously from $91.00) on shares of Exxon Mobil Corporation in a research report on Thursday, May 18th. Scotiabank set a $86.00 price objective on shares of Exxon Mobil Corporation and gave the company a “buy” rating in a research report on Saturday, June 17th. J P Morgan Chase & Co set a $80.00 price objective on shares of Exxon Mobil Corporation and gave the company a “neutral” rating in a research report on Friday. Finally, Hilliard Lyons assumed coverage on shares of Exxon Mobil Corporation in a research report on Wednesday, June 7th. They issued a “term buy” rating and a $90.00 price objective for the company. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $84.94.

In related news, Director Steven Reinemund sold 1,100 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $80.23, for a total value of $88,253.00. Following the transaction, the director now directly owns 43,125 shares in the company, valued at approximately $3,459,918.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is 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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Institutional Ownership by Quarter for Exxon Mobil Corporation (NYSE:XOM)

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