Holderness Investments Co. decreased its position in Exxon Mobil Co. (NYSE:XOM) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,286 shares of the oil and gas company’s stock after selling 347 shares during the quarter. Exxon Mobil makes up 1.7% of Holderness Investments Co.’s portfolio, making the stock its 14th biggest holding. Holderness Investments Co.’s holdings in Exxon Mobil were worth $3,700,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Pettyjohn Wood & White Inc. raised its stake in shares of Exxon Mobil by 3.4% in the second quarter. Pettyjohn Wood & White Inc. now owns 112,407 shares of the oil and gas company’s stock worth $8,614,000 after buying an additional 3,710 shares during the period. John G Ullman & Associates Inc. raised its stake in shares of Exxon Mobil by 7.1% in the second quarter. John G Ullman & Associates Inc. now owns 425,473 shares of the oil and gas company’s stock worth $32,604,000 after buying an additional 28,363 shares during the period. Bingham Osborn & Scarborough LLC raised its stake in shares of Exxon Mobil by 2.2% in the second quarter. Bingham Osborn & Scarborough LLC now owns 20,880 shares of the oil and gas company’s stock worth $1,600,000 after buying an additional 444 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Exxon Mobil by 1.2% in the second quarter. Duff & Phelps Investment Management Co. now owns 46,165 shares of the oil and gas company’s stock worth $3,538,000 after buying an additional 540 shares during the period. Finally, Forbes J M & Co. LLP raised its stake in shares of Exxon Mobil by 3.7% in the second quarter. Forbes J M & Co. LLP now owns 122,028 shares of the oil and gas company’s stock worth $9,351,000 after buying an additional 4,324 shares during the period. 54.48% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the company. JPMorgan Chase & Co. set a $83.00 price objective on Exxon Mobil and gave the stock a “hold” rating in a research note on Sunday, August 4th. HSBC reaffirmed a “neutral” rating and issued a $86.50 price objective on shares of Exxon Mobil in a research note on Thursday, May 23rd. BMO Capital Markets assumed coverage on Exxon Mobil in a research note on Tuesday. They issued a “market perform” rating and a $86.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Exxon Mobil in a research note on Monday, August 5th. Finally, DZ Bank upgraded Exxon Mobil from a “sell” rating to a “hold” rating and cut their target price for the stock from $72.00 to $70.00 in a research report on Tuesday, August 6th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $81.83.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.05. The business had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $64.47 billion. Exxon Mobil had a return on equity of 9.16% and a net margin of 6.30%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. On average, analysts anticipate that Exxon Mobil Co. will post 3.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 13th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 5.05%. The ex-dividend date is Monday, August 12th. Exxon Mobil’s dividend payout ratio is presently 70.59%.
In other Exxon Mobil news, VP Robert N. Schleckser sold 9,345 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.84, for a total transaction of $661,999.80. Following the completion of the transaction, the vice president now owns 189,800 shares in the company, valued at approximately $13,445,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.05% of the company’s stock.
About Exxon Mobil
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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