SP Asset Management Purchases Shares of 139,116 Exxon Mobil Co. (XOM)

SP Asset Management purchased a new position in shares of Exxon Mobil Co. (NYSE:XOM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 139,116 shares of the oil and gas company’s stock, valued at approximately $11,285,000. Exxon Mobil makes up approximately 3.1% of SP Asset Management’s portfolio, making the stock its 5th largest position.

Other institutional investors also recently added to or reduced their stakes in the company. Kwmg LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter valued at approximately $102,000. Clearwater Capital Advisors LLC acquired a new position in shares of Exxon Mobil in the 1st quarter valued at approximately $122,000. Trilogy Capital Inc. acquired a new position in shares of Exxon Mobil in the 1st quarter valued at approximately $149,000. Mainstay Capital Management LLC ADV raised its position in shares of Exxon Mobil by 112.7% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 1,887 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Winfield Associates Inc. bought a new stake in shares of Exxon Mobil in the 2nd quarter valued at approximately $160,000. 53.30% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Bradley W. Corson sold 15,000 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $84.02, for a total value of $1,260,300.00. Following the completion of the transaction, the vice president now owns 214,774 shares of the company’s stock, valued at $18,045,311.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James M. Spellings, Jr. sold 9,522 shares of the stock in a transaction on Friday, November 30th. The stock was sold at an average price of $78.41, for a total value of $746,620.02. Following the completion of the transaction, the insider now directly owns 249,122 shares of the company’s stock, valued at approximately $19,533,656.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,587 shares of company stock valued at $4,675,508. 0.08% of the stock is owned by company insiders.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Exxon Mobil from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Thursday, October 25th. Piper Jaffray Companies reiterated a “hold” rating and issued a $81.00 price target on shares of Exxon Mobil in a report on Monday, November 19th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $93.00 price target on shares of Exxon Mobil in a report on Monday, December 10th. Raymond James reiterated a “sell” rating on shares of Exxon Mobil in a report on Tuesday, December 11th. Finally, Societe Generale set a $92.00 price target on Exxon Mobil and gave the company a “buy” rating in a report on Wednesday, September 26th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $86.63.

Shares of XOM opened at $75.58 on Friday. The firm has a market cap of $320.27 billion, a P/E ratio of 17.37, a P/E/G ratio of 2.13 and a beta of 0.84. The company has a quick ratio of 0.54, a current ratio of 0.83 and a debt-to-equity ratio of 0.10. Exxon Mobil Co. has a 12 month low of $72.15 and a 12 month high of $89.30.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.25. The firm had revenue of $76.61 billion during the quarter, compared to the consensus estimate of $72.91 billion. Exxon Mobil had a return on equity of 9.53% and a net margin of 8.15%. The firm’s revenue was up 25.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 EPS. On average, equities analysts forecast that Exxon Mobil Co. will post 4.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 10th. Investors of record on Tuesday, November 13th were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, November 9th. This represents a $3.28 dividend on an annualized basis and a yield of 4.34%. Exxon Mobil’s payout ratio is currently 91.36%.

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Exxon Mobil 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 also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; produces transportation fuels, such as marine gasoil and diesel; and transports and sells crude oil, natural gas, and petroleum products.

Further Reading: Why is Cost of Capital Important?

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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