Daiwa SB Investments Ltd. Cuts Holdings in Exxon Mobil Corporation (XOM)
Daiwa SB Investments Ltd. lowered its position in Exxon Mobil Corporation (NYSE:XOM) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,650 shares of the oil and gas company’s stock after selling 3,970 shares during the quarter. Exxon Mobil Corporation makes up approximately 2.2% of Daiwa SB Investments Ltd.’s portfolio, making the stock its 23rd biggest position. Daiwa SB Investments Ltd.’s holdings in Exxon Mobil Corporation were worth $7,883,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Horan Securities Inc. purchased a new stake in Exxon Mobil Corporation in the first quarter worth approximately $102,000. Watermark Asset Management Inc. purchased a new stake in Exxon Mobil Corporation in the first quarter worth approximately $136,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted 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 in the last quarter. 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 worth $191,000 after buying an additional 15 shares in the last quarter. Finally, Diversified Portfolios Inc. purchased a new stake in Exxon Mobil Corporation in the first quarter worth approximately $224,000. 50.74% of the stock is owned by institutional investors and hedge funds.
In other Exxon Mobil Corporation news, VP Robert Stuart Franklin sold 22,656 shares of Exxon Mobil Corporation stock in a transaction on Monday, September 18th. The stock was sold at an average price of $79.76, for a total transaction of $1,807,042.56. Following the completion of the sale, the vice president now directly owns 231,572 shares of the company’s stock, valued at approximately $18,470,182.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven Reinemund sold 1,100 shares of Exxon Mobil Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $80.23, for a total value of $88,253.00. Following the sale, the director now directly owns 43,125 shares of the company’s stock, valued at $3,459,918.75. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.
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 for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.05). The firm had revenue of $62.88 billion for the quarter, compared to the consensus estimate of $61.35 billion. Exxon Mobil Corporation had a net margin of 4.75% and a return on equity of 7.62%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Monday, August 14th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Thursday, August 10th. Exxon Mobil Corporation’s dividend payout ratio (DPR) is presently 111.19%.
XOM has been the subject of several research reports. Vetr raised Exxon Mobil Corporation from a “hold” rating to a “buy” rating and set a $79.60 target price for the company in a research note on Tuesday, August 29th. Wolfe Research lowered Exxon Mobil Corporation from a “market perform” rating to an “underperform” rating in a research note on Monday, July 17th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $83.00 target price on shares of Exxon Mobil Corporation in a research note on Tuesday, May 30th. Zacks Investment Research lowered Exxon Mobil Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 14th. Finally, BMO Capital Markets upped their target price on Exxon Mobil Corporation from $76.00 to $80.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 21st. Seven equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $84.65.
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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