Exxon Mobil Co. (NYSE:XOM) Shares Sold by MAI Capital Management

MAI Capital Management lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 2.3% in the third quarter, HoldingsChannel reports. The fund owned 284,769 shares of the oil and gas company’s stock after selling 6,757 shares during the quarter. MAI Capital Management’s holdings in Exxon Mobil were worth $33,381,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in shares of Exxon Mobil by 532.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after acquiring an additional 14,158,054 shares during the period. Primecap Management Co. CA purchased a new position in Exxon Mobil in the second quarter valued at about $980,210,000. International Assets Investment Management LLC lifted its stake in shares of Exxon Mobil by 7,761.0% during the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after purchasing an additional 6,805,982 shares in the last quarter. Capital International Investors grew its stake in shares of Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. Redburn Atlantic restated a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research report on Monday, November 4th. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Barclays lowered their target price on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $119.31 on Monday. The business has a 50-day moving average of $118.49 and a two-hundred day moving average of $116.39. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The stock has a market capitalization of $524.38 billion, a P/E ratio of 14.86, a P/E/G ratio of 5.00 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 earnings per share. On average, equities research analysts predict that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.32%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

About Exxon Mobil

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.