Park Avenue Securities LLC Increases Stake in Exxon Mobil Co. (NYSE:XOM)

Park Avenue Securities LLC grew its stake in Exxon Mobil Co. (NYSE:XOM) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,317 shares of the oil and gas company’s stock after purchasing an additional 8,490 shares during the period. Park Avenue Securities LLC’s holdings in Exxon Mobil were worth $11,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its position in Exxon Mobil by 532.8% during the second 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 buying an additional 14,158,054 shares during the period. Primecap Management Co. CA purchased a new stake in shares of Exxon Mobil during the 2nd quarter worth about $980,210,000. International Assets Investment Management LLC grew its position in shares of Exxon Mobil by 7,761.0% during the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after acquiring an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Exxon Mobil by 16.9% in 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 purchasing an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on XOM shares. JPMorgan Chase & Co. cut their price objective on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. TD Cowen cut their price target on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a report on Monday, December 16th. Wolfe Research increased their price objective on shares of Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. UBS Group cut their target price on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Bank of America assumed coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and an average target price of $128.84.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $111.44 on Thursday. The company has a market cap of $489.79 billion, a P/E ratio of 13.88, a PEG ratio of 4.65 and a beta of 0.91. The firm has a fifty day moving average price of $113.12 and a 200 day moving average price of $115.58. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.27 earnings per share. Sell-side analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 14th were given a $0.99 dividend. The ex-dividend date was Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.55%. Exxon Mobil’s payout ratio is 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.