Wright Investors Service Inc. boosted its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,267 shares of the oil and gas company’s stock after purchasing an additional 1,045 shares during the period. Exxon Mobil comprises 1.7% of Wright Investors Service Inc.’s portfolio, making the stock its 12th biggest holding. Wright Investors Service Inc.’s holdings in Exxon Mobil were worth $5,841,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of XOM. Stone House Investment Management LLC acquired a new stake in shares of Exxon Mobil during the first quarter worth approximately $25,000. Dark Forest Capital Management LP acquired a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $27,000. Corrado Advisors LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $28,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. raised its position in Exxon Mobil by 1,207.1% in the 4th quarter. Financial Connections Group Inc. now owns 366 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 338 shares during the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.
Insider Transactions at Exxon Mobil
In other news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $116.11, for a total transaction of $290,275.00. Following the completion of the transaction, the vice president now directly owns 29,272 shares in the company, valued at approximately $3,398,771.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.04% of the company’s stock.
Exxon Mobil Price Performance
Exxon Mobil (NYSE:XOM – Get Free Report) last announced its earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.18. The firm had revenue of $86.56 billion during the quarter, compared to analyst estimates of $90.07 billion. Exxon Mobil had a net margin of 15.06% and a return on equity of 31.48%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 EPS. Research analysts predict that Exxon Mobil Co. will post 9.45 earnings per share for the current fiscal year.
Exxon Mobil Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Tuesday, May 16th were paid a dividend of $0.91 per share. The ex-dividend date was Monday, May 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.59%. Exxon Mobil’s dividend payout ratio is 24.64%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Exxon Mobil from $148.00 to $140.00 in a research report on Monday, May 15th. Morgan Stanley boosted their price objective on shares of Exxon Mobil from $118.00 to $122.00 in a research report on Tuesday, May 2nd. Scotiabank cut shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $140.00 to $135.00 in a research report on Thursday, April 13th. StockNews.com initiated coverage on shares of Exxon Mobil in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada cut shares of Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 target price for the company. in a research report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $124.70.
About Exxon Mobil
Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.
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