PNC Financial Services Group Inc. Has $1.20 Billion Holdings in Exxon Mobil Corporation $XOM

PNC Financial Services Group Inc. grew its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,681,632 shares of the oil and gas company’s stock after acquiring an additional 163,186 shares during the quarter. Exxon Mobil accounts for approximately 0.7% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 21st largest position. PNC Financial Services Group Inc. owned 0.25% of Exxon Mobil worth $1,204,354,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Exxon Mobil by 0.3% in the second quarter. Vanguard Group Inc. now owns 431,058,875 shares of the oil and gas company’s stock valued at $46,468,147,000 after buying an additional 1,111,231 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Exxon Mobil by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 96,307,931 shares of the oil and gas company’s stock valued at $10,345,132,000 after acquiring an additional 342,967 shares during the last quarter. Norges Bank bought a new stake in Exxon Mobil during the 2nd quarter worth $6,163,719,000. Bank of New York Mellon Corp increased its holdings in Exxon Mobil by 2.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock worth $5,023,298,000 after purchasing an additional 1,274,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Exxon Mobil by 3.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 33,500,304 shares of the oil and gas company’s stock valued at $3,611,553,000 after purchasing an additional 1,126,912 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on XOM. Sanford C. Bernstein reduced their target price on shares of Exxon Mobil from $142.00 to $137.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Mizuho set a $140.00 price objective on shares of Exxon Mobil in a research note on Wednesday, February 4th. TD Cowen raised their target price on Exxon Mobil from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company reduced their price target on Exxon Mobil from $158.00 to $156.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada increased their price target on Exxon Mobil from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $140.59.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 5,000 shares of Exxon Mobil stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $139.75, for a total transaction of $698,750.00. Following the sale, the vice president directly owned 23,584 shares in the company, valued at $3,295,864. The trade was a 17.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 14,230 shares of company stock valued at $1,888,421. 0.03% of the stock is owned by corporate insiders.

Exxon Mobil Trading Down 1.0%

Shares of Exxon Mobil stock opened at $148.47 on Friday. The stock has a market capitalization of $626.12 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 15.44 and a beta of 0.39. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $156.93. The stock has a 50 day moving average price of $129.26 and a two-hundred day moving average price of $118.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.79 and a current ratio of 1.15.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.08. The company had revenue of $82.31 billion for the quarter, compared to analyst estimates of $77.98 billion. Exxon Mobil had a net margin of 8.68% and a return on equity of 11.21%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.67 EPS. As a group, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Thursday, February 12th will be given a $1.03 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $4.12 annualized dividend and a yield of 2.8%. Exxon Mobil’s payout ratio is currently 61.58%.

Exxon Mobil Company Profile

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.