InterOcean Capital LLC lifted its stake in Exxon Mobil Co. (NYSE:XOM) by 13.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 503,738 shares of the oil and gas company’s stock after purchasing an additional 60,909 shares during the quarter. Exxon Mobil comprises about 1.7% of InterOcean Capital LLC’s portfolio, making the stock its 19th largest holding. InterOcean Capital LLC’s holdings in Exxon Mobil were worth $19,127,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in XOM. Norges Bank acquired a new position in Exxon Mobil during the 4th quarter valued at approximately $3,055,993,000. State Street Corp grew its holdings in shares of Exxon Mobil by 2.5% during the fourth quarter. State Street Corp now owns 202,281,808 shares of the oil and gas company’s stock valued at $14,115,225,000 after buying an additional 5,019,413 shares during the last quarter. Capital Research Global Investors increased its position in shares of Exxon Mobil by 7.6% in the 4th quarter. Capital Research Global Investors now owns 66,388,650 shares of the oil and gas company’s stock valued at $4,632,600,000 after acquiring an additional 4,674,009 shares during the period. Swiss National Bank raised its stake in Exxon Mobil by 21.5% in the 1st quarter. Swiss National Bank now owns 17,105,192 shares of the oil and gas company’s stock worth $649,484,000 after acquiring an additional 3,023,400 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Exxon Mobil during the 4th quarter worth about $190,392,000. 54.84% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on XOM. DZ Bank cut Exxon Mobil from a “hold” rating to a “sell” rating and set a $56.00 price objective for the company. in a research note on Tuesday, February 4th. Citigroup reduced their price target on shares of Exxon Mobil from $68.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, March 6th. Redburn Partners upgraded shares of Exxon Mobil from a “sell” rating to a “neutral” rating in a research note on Wednesday, May 13th. CSFB reaffirmed a “neutral” rating and issued a $48.00 price objective on shares of Exxon Mobil in a report on Thursday, March 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $44.00 target price on shares of Exxon Mobil in a report on Friday, May 1st. Six analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $56.65.
Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.49. The firm had revenue of $56.16 billion for the quarter, compared to analysts’ expectations of $58.25 billion. Exxon Mobil had a net margin of 4.42% and a return on equity of 5.15%. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. Sell-side analysts forecast that Exxon Mobil Co. will post -0.9 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 13th will be given a $0.87 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $3.48 annualized dividend and a dividend yield of 7.92%. Exxon Mobil’s dividend payout ratio (DPR) is 154.67%.
In other news, VP Neil W. Duffin purchased 30,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average cost of $36.41 per share, with a total value of $1,092,300.00. Following the completion of the purchase, the vice president now directly owns 571,150 shares of the company’s stock, valued at approximately $20,795,571.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William C. Weldon purchased 4,591 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $43.56 per share, with a total value of $199,983.96. Following the completion of the transaction, the director now directly owns 30,947 shares of the company’s stock, valued at approximately $1,348,051.32. The disclosure for this purchase can be found here. Insiders have bought 38,771 shares of company stock valued at $1,493,300 in the last three months. Corporate insiders own 0.05% of the company’s stock.
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 is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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