Iat Reinsurance Co. LTD. raised its stake in Exxon Mobil Co. (NYSE:XOM) by 398.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 174,600 shares of the oil and gas company’s stock after buying an additional 139,600 shares during the quarter. Exxon Mobil accounts for 1.9% of Iat Reinsurance Co. LTD.’s investment portfolio, making the stock its 11th biggest holding. Iat Reinsurance Co. LTD.’s holdings in Exxon Mobil were worth $6,630,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in XOM. Allen Capital Group LLC boosted its stake in Exxon Mobil by 3.5% in the fourth quarter. Allen Capital Group LLC now owns 25,564 shares of the oil and gas company’s stock valued at $1,784,000 after acquiring an additional 875 shares in the last quarter. Strategic Investment Advisors MI lifted its holdings in shares of Exxon Mobil by 15.1% during the 4th quarter. Strategic Investment Advisors MI now owns 11,279 shares of the oil and gas company’s stock valued at $787,000 after purchasing an additional 1,477 shares during the last quarter. McAdam LLC acquired a new stake in shares of Exxon Mobil in the 4th quarter worth $489,000. Wolff Financial Management LLC grew its stake in Exxon Mobil by 4.8% during the 4th quarter. Wolff Financial Management LLC now owns 5,624 shares of the oil and gas company’s stock worth $392,000 after buying an additional 260 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Exxon Mobil during the 4th quarter worth $557,000. Institutional investors and hedge funds own 54.84% of the company’s stock.
XOM has been the topic of a number of research analyst reports. CSFB restated a “neutral” rating and set a $48.00 price target on shares of Exxon Mobil in a research note on Thursday, March 12th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $44.00 target price on shares of Exxon Mobil in a research report on Friday, May 1st. Goldman Sachs Group restated a “sell” rating and set a $49.00 price target on shares of Exxon Mobil in a research note on Friday, March 6th. Royal Bank of Canada reiterated a “sell” rating and set a $42.00 price objective on shares of Exxon Mobil in a research note on Friday, May 1st. Finally, Argus downgraded Exxon Mobil from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $56.65.
Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, May 1st. The oil and gas company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.49. The firm had revenue of $56.16 billion during the quarter, compared to analysts’ expectations of $58.25 billion. Exxon Mobil had a net margin of 4.42% and a return on equity of 5.15%. The business’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. As a group, sell-side analysts expect that Exxon Mobil Co. will post -0.9 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 13th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 7.80%. The ex-dividend date of this dividend is Tuesday, May 12th. Exxon Mobil’s payout ratio is currently 154.67%.
In related news, Director William C. Weldon purchased 4,591 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was bought at an average price of $43.56 per share, with a total value of $199,983.96. Following the acquisition, the director now owns 30,947 shares in the company, valued at $1,348,051.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Neil W. Duffin acquired 30,000 shares of Exxon Mobil stock in a transaction on 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 completion of the transaction, the vice president now directly owns 571,150 shares of the company’s stock, valued at approximately $20,795,571.50. The disclosure for this purchase can be found here. Insiders have bought a total of 38,771 shares of company stock worth $1,493,300 over the last 90 days. Insiders own 0.05% of the company’s stock.
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.
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