State Street Corp Cuts Position in Exxon Mobil Co. (NYSE:XOM)

State Street Corp cut its stake in Exxon Mobil Co. (NYSE:XOM) by 2.2% during the third quarter, HoldingsChannel reports. The fund owned 221,675,926 shares of the oil and gas company’s stock after selling 5,091,418 shares during the quarter. Exxon Mobil comprises about 1.1% of State Street Corp’s holdings, making the stock its 14th largest position. State Street Corp owned 0.05% of Exxon Mobil worth $25,984,847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its stake in Exxon Mobil by 532.8% during 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 purchasing an additional 14,158,054 shares during the last quarter. Primecap Management Co. CA purchased a new stake in Exxon Mobil during the 2nd quarter valued at about $980,210,000. International Assets Investment Management LLC grew its stake in 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 purchasing an additional 6,805,982 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 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 purchasing an additional 5,330,887 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $114.27 on Thursday. The business has a 50 day simple moving average of $119.77 and a two-hundred day simple moving average of $116.52. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The stock has a market capitalization of $502.23 billion, a P/E ratio of 14.23, a PEG ratio of 4.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.27 earnings per share. As a group, analysts predict that Exxon Mobil Co. will post 7.94 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.47%. Exxon Mobil’s dividend payout ratio is 49.32%.

Analyst Ratings Changes

Several analysts have weighed in on XOM shares. Royal Bank of Canada dropped their price target on Exxon Mobil from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company boosted their price objective on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Wolfe Research boosted their price objective on Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. BMO Capital Markets boosted their price objective on Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Finally, Bank of America initiated coverage on Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Company Profile

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.