Spinnaker Trust reduced its position in shares of Exxon Mobil Corp. (NYSE:XOM) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,430 shares of the company’s stock after selling 14,119 shares during the period. Exxon Mobil Corp. comprises about 1.1% of Spinnaker Trust’s holdings, making the stock its 19th largest position. Spinnaker Trust’s holdings in Exxon Mobil Corp. were worth $7,820,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC raised its stake in Exxon Mobil Corp. by 4,948.6% in the second quarter. Acadian Asset Management LLC now owns 3,736,088 shares of the company’s stock worth $350,220,000 after buying an additional 3,662,086 shares in the last quarter. USS Investment Management Ltd bought a new stake in Exxon Mobil Corp. during the second quarter worth $142,946,000. BlackRock Institutional Trust Company N.A. raised its stake in Exxon Mobil Corp. by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 111,095,583 shares of the company’s stock worth $9,286,480,000 after buying an additional 1,455,454 shares in the last quarter. Virginia Retirement System bought a new stake in Exxon Mobil Corp. during the first quarter worth $120,470,000. Finally, Nordea Investment Management AB raised its stake in Exxon Mobil Corp. by 84.8% in the second quarter. Nordea Investment Management AB now owns 2,809,085 shares of the company’s stock worth $263,324,000 after buying an additional 1,289,210 shares in the last quarter. 50.42% of the stock is currently owned by institutional investors.
Shares of Exxon Mobil Corp. (NYSE:XOM) traded up 4.40% on Wednesday, hitting $86.90. 27,621,052 shares of the stock were exchanged. Exxon Mobil Corp. has a one year low of $71.55 and a one year high of $95.55. The firm’s 50-day moving average is $86.49 and its 200-day moving average is $88.15. The company has a market cap of $360.34 billion, a P/E ratio of 34.51 and a beta of 0.78.
Exxon Mobil Corp. (NYSE:XOM) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.23. Exxon Mobil Corp. had a net margin of 4.51% and a return on equity of 5.94%. The business earned $57.69 billion during the quarter, compared to analyst estimates of $60.23 billion. During the same period last year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down 22.2% on a year-over-year basis. On average, equities analysts forecast that Exxon Mobil Corp. will post $2.31 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 12th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date was Wednesday, August 10th. Exxon Mobil Corp.’s dividend payout ratio (DPR) is presently 119.05%.
A number of analysts have recently weighed in on XOM shares. Credit Agricole SA reaffirmed a “buy” rating on shares of Exxon Mobil Corp. in a research report on Tuesday, August 16th. Jefferies Group reaffirmed a “hold” rating on shares of Exxon Mobil Corp. in a research report on Thursday, September 8th. Collins Stewart reaffirmed a “hold” rating and set a $83.50 price objective on shares of Exxon Mobil Corp. in a research report on Sunday, September 11th. JPMorgan Chase & Co. set a $95.00 target price on shares of Exxon Mobil Corp. and gave the stock a “neutral” rating in a research note on Monday, July 11th. Finally, Morningstar Inc. reiterated a “neutral” rating on shares of Exxon Mobil Corp. in a research note on Tuesday, August 30th. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company’s stock. The company presently 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 Exxon Mobil Corp. 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 transaction, the vice president now directly owns 213,256 shares of the company’s stock, valued at approximately $18,751,600.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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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