Kornitzer Capital Management Inc. KS Sells 4,570 Shares of Exxon Mobil Co. (NYSE:XOM)

Kornitzer Capital Management Inc. KS lessened its stake in Exxon Mobil Co. (NYSE:XOMGet Rating) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 697,708 shares of the oil and gas company’s stock after selling 4,570 shares during the quarter. Exxon Mobil accounts for about 1.3% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 6th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Exxon Mobil were worth $60,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CTC Capital Management LLC purchased a new position in shares of Exxon Mobil in the 3rd quarter valued at about $1,807,000. WMG Financial Advisors LLC raised its stake in shares of Exxon Mobil by 0.9% during the 3rd quarter. WMG Financial Advisors LLC now owns 11,899 shares of the oil and gas company’s stock worth $1,039,000 after buying an additional 108 shares during the period. Polaris Wealth Advisory Group LLC lifted its position in shares of Exxon Mobil by 3,880.2% during the 3rd quarter. Polaris Wealth Advisory Group LLC now owns 205,259 shares of the oil and gas company’s stock valued at $20,288,000 after buying an additional 200,102 shares in the last quarter. Brown Advisory Inc. grew its stake in Exxon Mobil by 1.4% in the 2nd quarter. Brown Advisory Inc. now owns 1,803,171 shares of the oil and gas company’s stock valued at $134,296,000 after acquiring an additional 24,869 shares during the period. Finally, Relyea Zuckerberg Hanson LLC increased its holdings in Exxon Mobil by 8.5% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 7,244 shares of the oil and gas company’s stock worth $620,000 after acquiring an additional 566 shares in the last quarter. 57.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction on Friday, December 9th. The stock was sold at an average price of $105.00, for a total value of $262,500.00. Following the completion of the sale, the vice president now directly owns 34,272 shares of the company’s stock, valued at $3,598,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

XOM has been the topic of several recent analyst reports. Credit Suisse Group increased their price objective on shares of Exxon Mobil to $130.00 in a report on Tuesday, November 1st. Redburn Partners cut Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Jefferies Financial Group raised Exxon Mobil from a “hold” rating to a “buy” rating and increased their target price for the company from $90.00 to $133.00 in a report on Wednesday, October 19th. Cowen raised their target price on Exxon Mobil to $108.00 in a research report on Friday, November 4th. Finally, Exane BNP Paribas upgraded Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $115.00 price target for the company in a research report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $114.35.

Exxon Mobil Stock Up 0.9 %

XOM stock opened at $113.81 on Wednesday. Exxon Mobil Co. has a one year low of $71.39 and a one year high of $126.54. The firm has a market cap of $468.70 billion, a PE ratio of 9.29, a PEG ratio of 0.48 and a beta of 1.11. The firm’s 50 day moving average price is $109.54 and its 200-day moving average price is $101.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.02 and a current ratio of 1.34.

Exxon Mobil (NYSE:XOMGet Rating) last posted its earnings results on Friday, October 28th. The oil and gas company reported $4.45 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.57. The company had revenue of $112.07 billion for the quarter, compared to the consensus estimate of $102.96 billion. Exxon Mobil had a return on equity of 29.52% and a net margin of 12.86%. The company’s revenue for the quarter was up 51.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share. On average, equities research analysts anticipate that Exxon Mobil Co. will post 13.92 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were given a $0.91 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.88. The ex-dividend date was Monday, November 14th. This represents a $3.64 dividend on an annualized basis and a yield of 3.20%. Exxon Mobil’s payout ratio is presently 29.71%.

About Exxon Mobil

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Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.

Further Reading

Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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