Palisade Asset Management LLC Grows Holdings in Exxon Mobil Corporation (XOM)
Palisade Asset Management LLC boosted its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 23.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,893 shares of the oil and gas company’s stock after purchasing an additional 28,335 shares during the period. Exxon Mobil Corporation comprises 2.4% of Palisade Asset Management LLC’s holdings, making the stock its 12th largest position. Palisade Asset Management LLC’s holdings in Exxon Mobil Corporation were worth $12,020,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in XOM. Riggs Asset Managment Co. Inc. grew its holdings in shares of Exxon Mobil Corporation by 27.2% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,366 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 292 shares in the last quarter. Horan Securities Inc. grew its holdings in shares of Exxon Mobil Corporation by 20.8% in the 2nd quarter. Horan Securities Inc. now owns 1,511 shares of the oil and gas company’s stock valued at $122,000 after acquiring an additional 260 shares in the last quarter. Watermark Asset Management Inc. bought a new position in shares of Exxon Mobil Corporation in the 1st quarter valued at about $136,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of Exxon Mobil Corporation by 13.5% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,850 shares of the oil and gas company’s stock valued at $152,000 after acquiring an additional 220 shares in the last quarter. Finally, David R. Rahn & Associates Inc. bought a new position in shares of Exxon Mobil Corporation in the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 50.84% of the company’s stock.
Exxon Mobil Corporation (NYSE XOM) opened at $80.56 on Friday. The stock has a market cap of $341,340.00, a P/E ratio of 23.10, a P/E/G ratio of 1.74 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.85 and a quick ratio of 0.54. Exxon Mobil Corporation has a one year low of $76.05 and a one year high of $93.22.
Exxon Mobil Corporation (NYSE:XOM) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04. The business had revenue of $66.17 billion for the quarter, compared to analysts’ expectations of $63.51 billion. Exxon Mobil Corporation had a net margin of 5.14% and a return on equity of 8.21%. During the same period last year, the firm posted $0.63 earnings per share. equities analysts anticipate that Exxon Mobil Corporation will post 3.62 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 13th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $3.08 dividend on an annualized basis and a yield of 3.82%. Exxon Mobil Corporation’s dividend payout ratio (DPR) is 100.33%.
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XOM has been the subject of several analyst reports. Zacks Investment Research upgraded Exxon Mobil Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Vetr cut Exxon Mobil Corporation from a “buy” rating to a “hold” rating and set a $85.17 price objective for the company. in a report on Friday, October 6th. Barclays PLC reiterated an “overweight” rating and issued a $94.00 target price (up from $91.00) on shares of Exxon Mobil Corporation in a research note on Friday, October 13th. Morgan Stanley reiterated an “underperform” rating on shares of Exxon Mobil Corporation in a research note on Thursday, October 19th. Finally, BNP Paribas set a $70.00 target price on shares of Exxon Mobil Corporation and gave the company a “sell” rating in a research note on Monday, September 25th. Six investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $85.78.
In related news, VP Robert Stuart Franklin sold 22,656 shares of Exxon Mobil Corporation stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $79.76, for a total value of $1,807,042.56. Following the transaction, the vice president now directly owns 231,572 shares of the company’s stock, valued at $18,470,182.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.
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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