Adell Harriman & Carpenter Inc. trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM) by 4.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,168 shares of the oil and gas company’s stock after selling 6,291 shares during the quarter. Exxon Mobil makes up about 2.3% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 9th biggest position. Adell Harriman & Carpenter Inc.’s holdings in Exxon Mobil were worth $11,844,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of Exxon Mobil by 1.2% during the first quarter. BlackRock Inc. now owns 260,822,111 shares of the oil and gas company’s stock valued at $19,459,936,000 after purchasing an additional 2,982,610 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of Exxon Mobil by 224.5% during the first quarter. OppenheimerFunds Inc. now owns 3,772,320 shares of the oil and gas company’s stock valued at $281,452,000 after purchasing an additional 2,609,710 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of Exxon Mobil by 8,906.3% during the second quarter. Cornerstone Wealth Management LLC now owns 1,605,545 shares of the oil and gas company’s stock valued at $19,636,000 after purchasing an additional 1,587,718 shares during the last quarter. Unigestion Holding SA bought a new stake in shares of Exxon Mobil during the second quarter valued at approximately $114,974,000. Finally, Kiltearn Partners LLP bought a new stake in shares of Exxon Mobil during the first quarter valued at approximately $95,032,000. 52.39% of the stock is currently owned by hedge funds and other institutional investors.
In other Exxon Mobil news, VP Bradley W. Corson sold 15,000 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $84.02, for a total value of $1,260,300.00. Following the sale, the vice president now directly owns 214,774 shares in the company, valued at $18,045,311.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.08% of the company’s stock.
Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 2nd. The oil and gas company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.25. The company had revenue of $76.61 billion for the quarter, compared to analyst estimates of $72.91 billion. Exxon Mobil had a net margin of 8.15% and a return on equity of 9.53%. The business’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. Research analysts predict that Exxon Mobil Co. will post 4.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 13th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $3.28 annualized dividend and a yield of 4.23%. Exxon Mobil’s dividend payout ratio (DPR) is presently 91.36%.
Several research firms have recently commented on XOM. Royal Bank of Canada reissued a “buy” rating and set a $105.00 price target on shares of Exxon Mobil in a research note on Wednesday, August 8th. Jefferies Financial Group reissued a “neutral” rating and set a $87.00 price target on shares of Exxon Mobil in a research note on Friday, September 28th. Macquarie reissued a “sell” rating and set a $70.00 price target on shares of Exxon Mobil in a research note on Friday, October 19th. BNP Paribas set a $85.00 price target on shares of Exxon Mobil and gave the company a “sell” rating in a research note on Tuesday, August 28th. Finally, Societe Generale set a $92.00 price target on shares of Exxon Mobil and gave the company a “buy” rating in a research note on Monday, August 6th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.00.
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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 also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.
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