Provident Trust Co. bought a new stake in Exxon Mobil Corp. (NYSE:XOM) during the second quarter, Holdings Channel reports. The fund bought 2,240 shares of the company’s stock, valued at approximately $210,000.
Several other hedge funds and other institutional investors also recently modified their holdings of XOM. Abner Herrman & Brock LLC boosted its position in Exxon Mobil Corp. by 48.5% in the first quarter. Abner Herrman & Brock LLC now owns 52,882 shares of the company’s stock worth $4,420,000 after buying an additional 17,274 shares in the last quarter. Eqis Capital Management Inc. boosted its position in Exxon Mobil Corp. by 152.8% in the first quarter. Eqis Capital Management Inc. now owns 63,638 shares of the company’s stock worth $5,320,000 after buying an additional 38,464 shares in the last quarter. Union Bankshares Corp boosted its position in Exxon Mobil Corp. by 10.1% in the first quarter. Union Bankshares Corp now owns 108,943 shares of the company’s stock worth $9,106,000 after buying an additional 9,979 shares in the last quarter. Creative Planning boosted its position in Exxon Mobil Corp. by 7.6% in the first quarter. Creative Planning now owns 699,628 shares of the company’s stock worth $58,482,000 after buying an additional 49,635 shares in the last quarter. Finally, Burns J W & Co. Inc. NY boosted its position in Exxon Mobil Corp. by 1.8% in the first quarter. Burns J W & Co. Inc. NY now owns 78,268 shares of the company’s stock worth $6,542,000 after buying an additional 1,368 shares in the last quarter. Institutional investors and hedge funds own 50.42% of the company’s stock.
Shares of Exxon Mobil Corp. (NYSE:XOM) traded down 0.47% during midday trading on Monday, reaching $83.06. 10,830,030 shares of the company were exchanged. The stock has a market capitalization of $344.42 billion, a price-to-earnings ratio of 32.99 and a beta of 0.78. Exxon Mobil Corp. has a 52-week low of $71.55 and a 52-week high of $95.55. The company’s 50-day moving average price is $86.78 and its 200 day moving average price is $88.06.
Exxon Mobil Corp. (NYSE:XOM) last released its earnings results on Friday, July 29th. The company reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.23. The company earned $57.69 billion during the quarter, compared to the consensus estimate of $60.23 billion. Exxon Mobil Corp. had a return on equity of 5.94% and a net margin of 4.51%. Exxon Mobil Corp.’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. On average, equities analysts predict that Exxon Mobil Corp. will post $2.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, August 10th. Exxon Mobil Corp.’s payout ratio is currently 119.05%.
A number of research firms recently commented on XOM. HSBC set a $86.00 price objective on Exxon Mobil Corp. and gave the company a “neutral” rating in a report on Tuesday, June 28th. Societe Generale set a $105.00 price objective on Exxon Mobil Corp. and gave the company a “buy” rating in a report on Monday, August 15th. Goldman Sachs Group Inc. set a $98.00 price objective on Exxon Mobil Corp. and gave the company a “buy” rating in a report on Monday, August 1st. Barclays PLC reiterated an “equal weight” rating and issued a $102.00 price objective on shares of Exxon Mobil Corp. in a report on Thursday, July 28th. Finally, Credit Suisse Group AG restated a “sell” rating and set a $78.00 price target on shares of Exxon Mobil Corp. in a research note on Thursday, June 2nd. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $87.73.
In other news, VP Robert Stuart Franklin sold 13,855 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $87.93, for a total value of $1,218,270.15. Following the completion of the sale, the vice president now owns 213,256 shares of the company’s stock, valued at approximately $18,751,600.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.
Exxon Mobil Corp. Company Profile
Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas, manufacturing of petroleum products, and transportation and sale of crude oil, natural gas and petroleum products. The Company also manufactures and markets petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and various specialty products.
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