Iat Reinsurance Co. LTD. grew its position in Exxon Mobil Co. (NYSE:XOM) by 398.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 174,600 shares of the oil and gas company’s stock after buying an additional 139,600 shares during the period. Exxon Mobil makes up about 1.9% of Iat Reinsurance Co. LTD.’s investment portfolio, making the stock its 11th largest holding. Iat Reinsurance Co. LTD.’s holdings in Exxon Mobil were worth $6,630,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Exxon Mobil during the fourth quarter valued at $3,055,993,000. State Street Corp lifted its stake in Exxon Mobil by 2.5% during the 4th 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 acquiring an additional 5,019,413 shares during the period. Capital Research Global Investors boosted its holdings in shares of Exxon Mobil by 7.6% during 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 last quarter. Swiss National Bank grew its stake in shares of Exxon Mobil by 21.5% in the first 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 period. Finally, Renaissance Technologies LLC bought a new stake in shares of Exxon Mobil in the fourth quarter worth approximately $190,392,000. Hedge funds and other institutional investors own 54.84% of the company’s stock.
Several brokerages recently issued reports on XOM. Morgan Stanley dropped their target price on shares of Exxon Mobil from $73.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, March 16th. DZ Bank downgraded Exxon Mobil from a “hold” rating to a “sell” rating and set a $56.00 price target on the stock. in a research note on Tuesday, February 4th. Redburn Partners upgraded Exxon Mobil from a “sell” rating to a “neutral” rating in a research report on Wednesday, May 13th. UBS Group increased their target price on Exxon Mobil from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Finally, Berenberg Bank set a $63.00 price target on Exxon Mobil and gave the company a “neutral” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $56.65.
Shares of XOM stock traded up $0.04 on Friday, hitting $44.60. 15,309,468 shares of the stock traded hands, compared to its average volume of 26,257,626. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.78 and a quick ratio of 0.52. Exxon Mobil Co. has a 52 week low of $30.11 and a 52 week high of $77.93. The firm has a 50 day simple moving average of $43.01 and a two-hundred day simple moving average of $56.79. The firm has a market cap of $188.41 billion, a price-to-earnings ratio of 16.70 and a beta of 1.34.
Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.49. The business had revenue of $56.16 billion during the quarter, compared to analyst estimates of $58.25 billion. Exxon Mobil had a return on equity of 5.15% and a net margin of 4.42%. Exxon Mobil’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 EPS. Sell-side analysts forecast that Exxon Mobil Co. will post -0.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 13th will be given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 7.80%. The ex-dividend date is Tuesday, May 12th. Exxon Mobil’s dividend payout ratio is currently 154.67%.
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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