Sequoia Financial Advisors LLC grew its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 32.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 57,271 shares of the oil and gas company’s stock after purchasing an additional 14,189 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Exxon Mobil were worth $2,175,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Garrett Wealth Advisory Group LLC grew its holdings in Exxon Mobil by 3.5% during the 4th quarter. Garrett Wealth Advisory Group LLC now owns 4,704 shares of the oil and gas company’s stock worth $327,000 after acquiring an additional 159 shares in the last quarter. Westhampton Capital LLC boosted its holdings in shares of Exxon Mobil by 0.4% in the 4th quarter. Westhampton Capital LLC now owns 38,733 shares of the oil and gas company’s stock valued at $2,703,000 after buying an additional 161 shares during the period. Lenox Wealth Management Inc. boosted its holdings in shares of Exxon Mobil by 11.8% in the 4th quarter. Lenox Wealth Management Inc. now owns 1,538 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 162 shares during the period. Doheny Asset Management CA boosted its holdings in shares of Exxon Mobil by 1.6% in the 4th quarter. Doheny Asset Management CA now owns 10,988 shares of the oil and gas company’s stock valued at $767,000 after buying an additional 170 shares during the period. Finally, Shoker Investment Counsel Inc. boosted its holdings in shares of Exxon Mobil by 1.1% in the 4th quarter. Shoker Investment Counsel Inc. now owns 15,276 shares of the oil and gas company’s stock valued at $1,066,000 after buying an additional 171 shares during the period. 54.84% of the stock is owned by institutional investors.
XOM has been the subject of several research reports. Mizuho decreased their price target on shares of Exxon Mobil from $60.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, April 8th. Bank of America reaffirmed a “buy” rating and issued a $70.00 price target on shares of Exxon Mobil in a report on Monday, May 4th. UBS Group lifted their price target on shares of Exxon Mobil from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. CSFB reaffirmed a “neutral” rating and issued a $48.00 price target on shares of Exxon Mobil in a report on Thursday, March 12th. Finally, Royal Bank of Canada reiterated a “sell” rating and issued a $42.00 price objective on shares of Exxon Mobil in a research report on Friday, May 1st. Six investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.65.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.49. Exxon Mobil had a net margin of 4.42% and a return on equity of 5.15%. The company had revenue of $56.16 billion for the quarter, compared to the consensus estimate of $58.25 billion. During the same period in the previous year, the firm earned $0.55 EPS. Exxon Mobil’s revenue was down 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Exxon Mobil Co. will post -0.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 13th will be given a dividend of $0.87 per share. The ex-dividend date is Tuesday, May 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 7.80%. Exxon Mobil’s dividend payout ratio (DPR) is 154.67%.
In other Exxon Mobil news, VP Neil W. Duffin acquired 30,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were bought at an average price of $36.41 per share, with a total value of $1,092,300.00. Following the purchase, the vice president now directly owns 571,150 shares of the company’s stock, valued at approximately $20,795,571.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William C. Weldon acquired 4,591 shares of the stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $43.56 per share, for a total transaction of $199,983.96. Following the purchase, the director now directly owns 30,947 shares in the company, valued at $1,348,051.32. The disclosure for this purchase can be found here. Insiders have acquired a total of 38,771 shares of company stock worth $1,493,300 over the last 90 days. 0.05% of the stock is owned by insiders.
Exxon Mobil Company Profile
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.
Further Reading: What are Institutional Investors?
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