Advisors Capital Management LLC raised its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,040 shares of the oil and gas company’s stock after buying an additional 6,899 shares during the period. Advisors Capital Management LLC’s holdings in Exxon Mobil Corporation were worth $5,008,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thomas J. Herzfeld Advisors Inc. bought a new position in Exxon Mobil Corporation during the fourth quarter valued at about $101,000. Horan Securities Inc. bought a new position in Exxon Mobil Corporation during the first quarter valued at about $102,000. Watermark Asset Management Inc. bought a new position in Exxon Mobil Corporation during the first quarter valued at about $136,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position 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 valued at $152,000 after buying an additional 220 shares during the last quarter. Finally, Empirical Finance LLC bought a new position in Exxon Mobil Corporation during the fourth quarter valued at about $172,000. Hedge funds and other institutional investors own 50.77% of the company’s stock.
Exxon Mobil Corporation (NYSE:XOM) traded up 0.50% during trading on Friday, reaching $76.64. 14,324,342 shares of the company were exchanged. The stock has a market capitalization of $324.73 billion, a price-to-earnings ratio of 27.63 and a beta of 0.81. The firm’s 50 day moving average price is $79.94 and its 200-day moving average price is $81.47. 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 earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by $0.05. The firm had revenue of $62.88 billion during the quarter, compared to analysts’ expectations of $61.35 billion. Exxon Mobil Corporation had a return on equity of 7.62% and a net margin of 4.75%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. On average, equities research analysts predict that Exxon Mobil Corporation will post $3.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be given a $0.77 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $3.08 annualized dividend and a yield of 4.02%. Exxon Mobil Corporation’s payout ratio is 111.19%.
Several brokerages have recently weighed in on XOM. Argus reiterated a “focus list” rating and set a $104.00 target price (up from $91.00) on shares of Exxon Mobil Corporation in a research report on Thursday, May 18th. UBS AG set a $77.00 target price on shares of Exxon Mobil Corporation and gave the company a “sell” rating in a research report on Tuesday, April 25th. Scotiabank set a $86.00 price target on shares of Exxon Mobil Corporation and gave the company a “buy” rating in a research report on Saturday, June 17th. Hilliard Lyons started 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 target on the stock. Finally, Wolfe Research lowered shares of Exxon Mobil Corporation from a “market perform” rating to an “underperform” rating in a research report on Monday, July 17th. Eight research 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’s stock. The company presently has an average rating of “Hold” and an average target price of $84.94.
In other Exxon Mobil Corporation 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 value of $88,253.00. Following the transaction, the director now directly owns 43,125 shares of the company’s stock, valued at $3,459,918.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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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