Curbstone Financial Management Corp Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)
Curbstone Financial Management Corp lowered its position in shares of Exxon Mobil Co. (NYSE:XOM) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,660 shares of the oil and gas company’s stock after selling 1,400 shares during the period. Curbstone Financial Management Corp’s holdings in Exxon Mobil were worth $3,052,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. FMR LLC grew its stake in Exxon Mobil by 6.8% during the fourth quarter. FMR LLC now owns 70,602,466 shares of the oil and gas company’s stock valued at $2,910,233,000 after acquiring an additional 4,470,829 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Exxon Mobil by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,904,485 shares of the oil and gas company’s stock valued at $1,768,522,000 after acquiring an additional 2,630,031 shares in the last quarter. Norges Bank purchased a new position in Exxon Mobil during the fourth quarter valued at approximately $1,648,683,000. Morgan Stanley grew its stake in Exxon Mobil by 25.3% during the fourth quarter. Morgan Stanley now owns 24,392,033 shares of the oil and gas company’s stock valued at $1,005,441,000 after acquiring an additional 4,927,441 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in Exxon Mobil by 223.6% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 15,656,605 shares of the oil and gas company’s stock valued at $645,365,000 after acquiring an additional 10,818,671 shares in the last quarter. 50.90% of the stock is owned by institutional investors.
NYSE:XOM traded down $0.88 during midday trading on Thursday, reaching $55.71. 346,406 shares of the stock traded hands, compared to its average volume of 31,036,705. The company has a fifty day moving average of $57.07 and a 200 day moving average of $44.53. Exxon Mobil Co. has a 12 month low of $31.11 and a 12 month high of $62.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.58 and a current ratio of 0.93. The stock has a market capitalization of $235.85 billion, a P/E ratio of 33.68 and a beta of 1.31.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Wednesday, February 10th were issued a dividend of $0.87 per share. The ex-dividend date of this dividend was Tuesday, February 9th. This represents a $3.48 dividend on an annualized basis and a yield of 6.25%. Exxon Mobil’s dividend payout ratio is currently 154.67%.
In related news, Director Michael J. Angelakis acquired 25,000 shares of the firm’s stock in a transaction on Monday, March 1st. The stock was acquired at an average cost of $57.16 per share, for a total transaction of $1,429,000.00. Following the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $457,280. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.05% of the company’s stock.
A number of equities analysts have commented on the stock. Evercore ISI assumed coverage on shares of Exxon Mobil in a research note on Tuesday, February 23rd. They issued an “inline” rating and a $48.00 price target for the company. Morgan Stanley boosted their price target on shares of Exxon Mobil from $60.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 16th. Wells Fargo & Company boosted their price target on shares of Exxon Mobil from $53.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 2nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Exxon Mobil from $33.00 to $39.00 in a research note on Wednesday, December 9th. Finally, BNP Paribas raised shares of Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $45.50 price target for the company in a research note on Monday, February 8th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Exxon Mobil presently has an average rating of “Hold” and a consensus price target of $52.67.
Exxon Mobil Profile
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; and manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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