Palisade Asset Management LLC Lowers Position in Exxon Mobil Co. (NYSE:XOM)

Palisade Asset Management LLC trimmed its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 0.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 149,680 shares of the oil and gas company’s stock after selling 545 shares during the period. Exxon Mobil makes up approximately 1.8% of Palisade Asset Management LLC’s holdings, making the stock its 18th largest position. Palisade Asset Management LLC’s holdings in Exxon Mobil were worth $11,470,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Asset Planning Services Ltd. lifted its holdings in shares of Exxon Mobil by 1,984.0% during the second quarter. Asset Planning Services Ltd. now owns 521 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 496 shares during the last quarter. Massey Quick Simon & CO. LLC lifted its holdings in shares of Exxon Mobil by 625.3% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 544 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 469 shares during the last quarter. Evolution Wealth Advisors LLC purchased a new position in shares of Exxon Mobil during the second quarter valued at approximately $45,000. INR Advisory Services LLC purchased a new position in shares of Exxon Mobil during the fourth quarter valued at approximately $43,000. Finally, Interactive Financial Advisors purchased a new position in shares of Exxon Mobil during the first quarter valued at approximately $65,000. Hedge funds and other institutional investors own 54.52% of the company’s stock.

NYSE:XOM opened at $70.84 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.50 and a current ratio of 0.77. Exxon Mobil Co. has a 12 month low of $64.65 and a 12 month high of $87.36. The company has a market cap of $298.29 billion, a P/E ratio of 14.37, a PEG ratio of 2.05 and a beta of 0.97. The stock has a 50 day moving average of $75.27.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. Exxon Mobil had a net margin of 6.30% and a return on equity of 9.17%. The business had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $64.47 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s revenue was down 6.0% on a year-over-year basis. As a group, equities analysts predict that Exxon Mobil Co. will post 3.21 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 13th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Monday, August 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently 70.59%.

In other Exxon Mobil news, VP Bryan W. Milton sold 6,033 shares of Exxon Mobil stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $76.34, for a total value of $460,559.22. Following the completion of the sale, the vice president now owns 219,423 shares of the company’s stock, valued at approximately $16,750,751.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert N. Schleckser sold 9,345 shares of Exxon Mobil stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $70.84, for a total transaction of $661,999.80. Following the completion of the sale, the vice president now directly owns 189,800 shares of the company’s stock, valued at approximately $13,445,432. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Several research firms have recently issued reports on XOM. Goldman Sachs Group reiterated a “hold” rating and set a $80.00 target price on shares of Exxon Mobil in a report on Monday, April 29th. DZ Bank raised shares of Exxon Mobil from a “sell” rating to a “hold” rating and reduced their price target for the company from $72.00 to $70.00 in a research report on Tuesday. Credit Suisse Group set a $74.00 price target on shares of Exxon Mobil and gave the company a “neutral” rating in a research report on Friday, August 2nd. Zacks Investment Research downgraded shares of Exxon Mobil from a “hold” rating to a “strong sell” rating and set a $79.00 price target for the company. in a research report on Monday, July 22nd. Finally, Bank of America reissued a “buy” rating and set a $100.00 price target on shares of Exxon Mobil in a research report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $82.59.

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 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: Gross Domestic Product (GDP)

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

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