State Treasurer State of Michigan Grows Position in Exxon Mobil Co. (XOM)

State Treasurer State of Michigan increased its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.5% in the second quarter, HoldingsChannel.com reports. The fund owned 1,253,532 shares of the oil and gas company’s stock after purchasing an additional 6,000 shares during the quarter. Exxon Mobil accounts for approximately 0.8% of State Treasurer State of Michigan’s portfolio, making the stock its 22nd largest position. State Treasurer State of Michigan’s holdings in Exxon Mobil were worth $103,705,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Grassi Investment Management increased its holdings in shares of Exxon Mobil by 0.6% during the second quarter. Grassi Investment Management now owns 93,600 shares of the oil and gas company’s stock valued at $7,744,000 after acquiring an additional 600 shares in the last quarter. Dividend Assets Capital LLC increased its holdings in shares of Exxon Mobil by 1.8% during the second quarter. Dividend Assets Capital LLC now owns 35,740 shares of the oil and gas company’s stock valued at $2,957,000 after acquiring an additional 645 shares in the last quarter. Outfitter Advisors LTD. increased its holdings in shares of Exxon Mobil by 1.4% during the second quarter. Outfitter Advisors LTD. now owns 47,613 shares of the oil and gas company’s stock valued at $3,939,000 after acquiring an additional 650 shares in the last quarter. X Square Capital LLC increased its holdings in shares of Exxon Mobil by 16.8% during the first quarter. X Square Capital LLC now owns 4,544 shares of the oil and gas company’s stock valued at $339,000 after acquiring an additional 653 shares in the last quarter. Finally, Cue Financial Group Inc. increased its holdings in shares of Exxon Mobil by 4.8% during the second quarter. Cue Financial Group Inc. now owns 14,267 shares of the oil and gas company’s stock valued at $1,180,000 after acquiring an additional 657 shares in the last quarter. 52.39% of the stock is owned by institutional investors.

In other Exxon Mobil news, insider James M. Spellings, Jr. sold 9,522 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $78.41, for a total value of $746,620.02. Following the sale, the insider now owns 249,122 shares in the company, valued at approximately $19,533,656.02. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Bradley W. Corson sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $84.02, for a total value of $1,260,300.00. Following the completion of the sale, the vice president now owns 214,774 shares in the company, valued at approximately $18,045,311.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,377 shares of company stock worth $2,626,758. Insiders own 0.08% of the company’s stock.

XOM has been the topic of several recent analyst reports. Societe Generale set a $92.00 price objective on shares of Exxon Mobil and gave the company a “buy” rating in a report on Wednesday, August 22nd. HSBC reiterated a “buy” rating and issued a $96.00 price target on shares of Exxon Mobil in a report on Wednesday, September 12th. Wolfe Research upgraded shares of Exxon Mobil from a “market perform” rating to an “outperform” rating in a report on Monday, November 26th. Raymond James reiterated a “sell” rating on shares of Exxon Mobil in a report on Monday, November 26th. Finally, Credit Suisse Group set a $80.00 price target on shares of Exxon Mobil and gave the stock a “neutral” rating in a report on Thursday, September 6th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.82.

Exxon Mobil stock opened at $79.50 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.54 and a current ratio of 0.83. Exxon Mobil Co. has a 12 month low of $72.15 and a 12 month high of $89.30. The company has a market capitalization of $336.88 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 2.26 and a beta of 0.86.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 2nd. The oil and gas company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.25. Exxon Mobil had a return on equity of 9.53% and a net margin of 8.15%. The business had revenue of $76.61 billion for the quarter, compared to analyst estimates of $72.91 billion. During the same quarter in the prior year, the firm posted $0.93 EPS. The business’s quarterly revenue was up 25.4% compared to the same quarter last year. Sell-side analysts expect that Exxon Mobil Co. will post 4.71 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Tuesday, November 13th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $3.28 annualized dividend and a yield of 4.13%. Exxon Mobil’s dividend payout ratio is presently 91.36%.

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About Exxon Mobil

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 also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.

Further Reading: How to Invest in a Bull Market

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

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