Exxon Mobil Co. (NYSE:XOM) Stake Cut by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its position in shares of Exxon Mobil Co. (NYSE:XOM) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,407,318 shares of the oil and gas company’s stock after selling 1,600,270 shares during the quarter. Nuveen Asset Management LLC owned 0.39% of Exxon Mobil worth $733,736,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bernicke Wealth Management Ltd. lifted its stake in Exxon Mobil by 9.3% during the second quarter. Bernicke Wealth Management Ltd. now owns 6,675 shares of the oil and gas company’s stock worth $299,000 after purchasing an additional 566 shares during the last quarter. Wills Financial Group Inc. increased its position in Exxon Mobil by 12.8% in the second quarter. Wills Financial Group Inc. now owns 25,512 shares of the oil and gas company’s stock worth $1,141,000 after buying an additional 2,885 shares during the period. Loveless Wealth Management LLC increased its position in Exxon Mobil by 1.7% in the second quarter. Loveless Wealth Management LLC now owns 146,721 shares of the oil and gas company’s stock worth $6,561,000 after buying an additional 2,450 shares during the period. Alberta Investment Management Corp increased its position in Exxon Mobil by 1,111.1% in the first quarter. Alberta Investment Management Corp now owns 174,400 shares of the oil and gas company’s stock worth $6,622,000 after buying an additional 160,000 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in Exxon Mobil by 4.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,624,751 shares of the oil and gas company’s stock worth $72,660,000 after buying an additional 73,172 shares during the period. Hedge funds and other institutional investors own 50.90% of the company’s stock.

Shares of XOM stock traded down $0.41 during trading on Tuesday, reaching $36.25. The company had a trading volume of 1,075,393 shares, compared to its average volume of 28,333,383. The firm’s 50 day simple moving average is $41.39 and its two-hundred day simple moving average is $43.44. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.58. Exxon Mobil Co. has a one year low of $30.11 and a one year high of $75.18. The company has a market capitalization of $155.01 billion, a PE ratio of 22.01 and a beta of 1.26.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported ($0.70) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.09). Exxon Mobil had a net margin of 3.24% and a return on equity of 2.09%. The company had revenue of $32.61 billion during the quarter, compared to the consensus estimate of $38.16 billion. During the same period in the previous year, the business posted $0.61 earnings per share. The firm’s revenue was down 52.8% on a year-over-year basis. Analysts forecast that Exxon Mobil Co. will post -0.32 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 13th were given a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 9.60%. The ex-dividend date was Wednesday, August 12th. Exxon Mobil’s dividend payout ratio is currently 154.67%.

XOM has been the topic of several analyst reports. Raymond James reaffirmed a “sell” rating on shares of Exxon Mobil in a research report on Tuesday, August 25th. Scotiabank dropped their target price on Exxon Mobil from $50.00 to $47.00 and set a “sector underperform” rating on the stock in a research report on Monday, July 13th. Royal Bank of Canada increased their target price on Exxon Mobil from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Monday, August 3rd. Cowen reaffirmed a “hold” rating and issued a $34.00 target price on shares of Exxon Mobil in a research report on Thursday, July 2nd. Finally, Credit Suisse Group started coverage on Exxon Mobil in a research report on Tuesday, August 4th. They issued a “hold” rating and a $47.00 target price on the stock. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the company. Exxon Mobil presently has a consensus rating of “Hold” and a consensus price target of $51.30.

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 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.

See Also: Depreciation

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

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