Canada Pension Plan Investment Board lifted its position in Exxon Mobil Co. (NYSE:XOM) by 803.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,300,407 shares of the oil and gas company’s stock after acquiring an additional 3,824,559 shares during the period. Canada Pension Plan Investment Board’s holdings in Exxon Mobil were worth $240,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Exxon Mobil during the fourth quarter worth approximately $1,648,683,000. Amundi Pioneer Asset Management Inc. raised its position in Exxon Mobil by 223.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 15,656,605 shares of the oil and gas company’s stock valued at $645,365,000 after purchasing an additional 10,818,671 shares during the period. Morgan Stanley raised its position in Exxon Mobil by 25.3% in the fourth quarter. Morgan Stanley now owns 24,392,033 shares of the oil and gas company’s stock valued at $1,005,441,000 after purchasing an additional 4,927,441 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Exxon Mobil by 9.5% in the 1st quarter. Bank of New York Mellon Corp now owns 54,263,728 shares of the oil and gas company’s stock valued at $3,029,544,000 after buying an additional 4,703,848 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of Exxon Mobil by 25.5% in the 1st quarter. Nuveen Asset Management LLC now owns 18,265,750 shares of the oil and gas company’s stock valued at $1,019,777,000 after buying an additional 3,710,698 shares during the period. 51.38% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently issued reports on XOM. BMO Capital Markets began coverage on Exxon Mobil in a report on Monday, July 12th. They issued a “market perform” rating and a $69.00 price objective on the stock. Mizuho boosted their target price on Exxon Mobil from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, May 17th. Jefferies Financial Group reissued a “neutral” rating and set a $55.00 target price on shares of Exxon Mobil in a research note on Friday, April 30th. Royal Bank of Canada reissued a “sell” rating and set a $60.00 target price on shares of Exxon Mobil in a research note on Wednesday, June 2nd. Finally, Raymond James raised Exxon Mobil from an “underperform” rating to a “market perform” rating in a research report on Wednesday, April 14th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $59.21.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Thursday, April 29th. The oil and gas company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.06. The company had revenue of $59.15 billion during the quarter, compared to the consensus estimate of $55.36 billion. Exxon Mobil had a negative return on equity of 0.48% and a negative net margin of 10.35%. Exxon Mobil’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) earnings per share. On average, analysts forecast that Exxon Mobil Co. will post 4.01 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Thursday, May 13th were given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date was Wednesday, May 12th. Exxon Mobil’s dividend payout ratio is currently -1,054.55%.
About Exxon Mobil
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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