Martin Investment Management LLC lowered its stake in Exxon Mobil Corporation (NYSE:XOM) by 23.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,049 shares of the oil and gas company’s stock after selling 36,966 shares during the period. Exxon Mobil Corporation makes up approximately 2.8% of Martin Investment Management LLC’s holdings, making the stock its 23rd largest position. Martin Investment Management LLC’s holdings in Exxon Mobil Corporation were worth $9,845,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Bristol Advisors LLC acquired a new stake in shares of Exxon Mobil Corporation during the fourth quarter valued at $406,000. Sand Hill Global Advisors LLC increased its position in Exxon Mobil Corporation by 1.0% in the fourth quarter. Sand Hill Global Advisors LLC now owns 71,250 shares of the oil and gas company’s stock valued at $6,431,000 after buying an additional 676 shares in the last quarter. Cpcm LLC purchased a new position in Exxon Mobil Corporation during the fourth quarter valued at approximately $1,553,000. Marietta Wealth Management LLC purchased a new position in Exxon Mobil Corporation during the fourth quarter valued at approximately $1,710,000. Finally, MML Investors Services LLC purchased a new position in Exxon Mobil Corporation during the fourth quarter valued at approximately $322,000. Institutional investors and hedge funds own 50.77% of the company’s stock.
Exxon Mobil Corporation (NYSE XOM) opened at 76.64 on Friday. The stock has a 50 day moving average price of $79.94 and a 200 day moving average price of $81.47. The stock has a market capitalization of $324.73 billion, a PE ratio of 27.63 and a beta of 0.81. Exxon Mobil Corporation has a 12 month low of $76.05 and a 12 month high of $93.22.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 14th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $3.08 dividend on an annualized basis and a yield of 4.02%. Exxon Mobil Corporation’s dividend payout ratio is currently 111.19%.
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Several brokerages have recently weighed in on XOM. Argus reissued a “focus list” rating and issued a $104.00 price target (up previously from $91.00) on shares of Exxon Mobil Corporation in a research note on Thursday, May 18th. UBS AG set a $77.00 price target on Exxon Mobil Corporation and gave the company a “sell” rating in a research note on Tuesday, April 25th. Scotiabank set a $86.00 price target on Exxon Mobil Corporation and gave the company a “buy” rating in a research note on Saturday, June 17th. J P Morgan Chase & Co set a $80.00 target price on Exxon Mobil Corporation and gave the stock a “neutral” rating in a research note on Friday. Finally, Hilliard Lyons assumed coverage on Exxon Mobil Corporation in a research note on Wednesday, June 7th. They set a “term buy” rating and a $90.00 target price for the company. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Exxon Mobil Corporation has an average rating of “Hold” and an average target price of $84.94.
In related news, Director Steven Reinemund sold 1,100 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $80.23, for a total value of $88,253.00. Following the transaction, the director now directly owns 43,125 shares of the company’s stock, valued at approximately $3,459,918.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by company insiders.
Exxon Mobil Corporation Company Profile
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.
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