Pictet Asset Management Ltd. Has $215.92 Million Position in Exxon Mobil Corporation (NYSE:XOM)

Pictet Asset Management Ltd. cut its position in Exxon Mobil Corporation (NYSE:XOM) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,632,824 shares of the oil and gas company’s stock after selling 35,735 shares during the period. Exxon Mobil Corporation comprises about 0.7% of Pictet Asset Management Ltd.’s holdings, making the stock its 17th largest position. Pictet Asset Management Ltd. owned 0.06% of Exxon Mobil Corporation worth $215,918,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Richard C. Young & CO. LTD. boosted its stake in shares of Exxon Mobil Corporation by 4.8% in the fourth quarter. Richard C. Young & CO. LTD. now owns 58,807 shares of the oil and gas company’s stock worth $5,308,000 after buying an additional 2,671 shares during the period. Aviva PLC boosted its stake in shares of Exxon Mobil Corporation by 18.8% in the fourth quarter. Aviva PLC now owns 3,482,986 shares of the oil and gas company’s stock worth $314,408,000 after buying an additional 552,238 shares during the period. Adviser Investments LLC purchased a new stake in shares of Exxon Mobil Corporation during the fourth quarter worth approximately $1,068,000. Stellar Capital Management LLC purchased a new stake in shares of Exxon Mobil Corporation during the fourth quarter worth approximately $2,979,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Exxon Mobil Corporation by 824.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,221,961 shares of the oil and gas company’s stock worth $651,912,000 after buying an additional 6,440,709 shares during the period. 50.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Exxon Mobil Corporation (NYSE:XOM) traded up 0.50% during midday trading on Friday, reaching $76.64. The company had a trading volume of 14,324,342 shares. The firm has a market capitalization of $324.73 billion, a price-to-earnings ratio of 27.63 and a beta of 0.81. The stock has a 50-day moving average of $79.94 and a 200 day moving average of $81.47. Exxon Mobil Corporation has a 52 week low of $76.05 and a 52 week high of $93.22.

Exxon Mobil Corporation (NYSE:XOM) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by $0.05. The business had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. Exxon Mobil Corporation had a return on equity of 7.62% and a net margin of 4.75%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share. On average, analysts anticipate that Exxon Mobil Corporation will post $3.42 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, August 10th. Exxon Mobil Corporation’s payout ratio is 111.19%.

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XOM has been the subject of a number of research reports. Morgan Stanley reissued a “sell” rating and issued a $85.00 price objective on shares of Exxon Mobil Corporation in a research note on Monday, April 24th. UBS AG set a $77.00 target price on Exxon Mobil Corporation and gave the company a “sell” rating in a research report on Tuesday, April 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $96.00 target price on shares of Exxon Mobil Corporation in a research report on Tuesday, April 25th. BMO Capital Markets reaffirmed a “hold” rating and set a $76.00 target price on shares of Exxon Mobil Corporation in a research report on Friday, April 28th. Finally, Scotiabank set a $85.00 target price on Exxon Mobil Corporation and gave the company a “hold” rating in a research report on Monday, May 1st. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $84.94.

In other Exxon Mobil Corporation news, Director Steven Reinemund sold 1,100 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $80.23, for a total value of $88,253.00. Following the sale, the director now directly owns 43,125 shares of the company’s stock, valued at $3,459,918.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by corporate insiders.

About Exxon Mobil Corporation

Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.

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

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