Cim Investment Management Inc. trimmed its stake in Exxon Mobil Co. (NYSE:XOM) by 1.4% in the second quarter, Holdings Channel.com reports. The firm owned 21,896 shares of the oil and gas company’s stock after selling 313 shares during the quarter. Cim Investment Management Inc.’s holdings in Exxon Mobil were worth $1,381,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. lifted its position in shares of Exxon Mobil by 243.6% in the first quarter. Mizuho Securities Co. Ltd. now owns 756 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 536 shares in the last quarter. tru Independence LLC purchased a new stake in shares of Exxon Mobil in the second quarter worth approximately $43,000. Baldrige Asset Management LLC bought a new position in Exxon Mobil during the second quarter valued at approximately $50,000. USA Financial Portformulas Corp bought a new position in Exxon Mobil during the second quarter valued at approximately $57,000. Finally, Danda Trouve Investment Management Inc. raised its position in Exxon Mobil by 104.5% during the second quarter. Danda Trouve Investment Management Inc. now owns 1,184 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 605 shares in the last quarter. 51.73% of the stock is owned by institutional investors and hedge funds.
XOM has been the topic of several recent research reports. Truist Securities raised their price objective on shares of Exxon Mobil from $64.00 to $66.00 and gave the company a “hold” rating in a research report on Thursday, October 7th. DZ Bank downgraded Exxon Mobil from a “buy” rating to a “hold” rating and lowered their price target for the company from $67.00 to $62.50 in a report on Tuesday, August 3rd. JPMorgan Chase & Co. set a $76.00 price target on Exxon Mobil and gave the company a “buy” rating in a report on Tuesday, June 29th. increased their price target on Exxon Mobil from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, July 1st. Finally, Citigroup increased their price target on Exxon Mobil from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, July 1st. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.43.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Thursday, July 29th. The oil and gas company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.08. The firm had revenue of $67.74 billion during the quarter, compared to analysts’ expectations of $63.96 billion. Exxon Mobil had a positive return on equity of 3.98% and a negative net margin of 6.07%. The company’s quarterly revenue was up 107.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.70) EPS. As a group, sell-side analysts anticipate that Exxon Mobil Co. will post 4.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 13th were given a $0.87 dividend. The ex-dividend date was Thursday, August 12th. This represents a $3.48 annualized dividend and a dividend yield of 5.61%. Exxon Mobil’s dividend payout ratio is presently -1,054.55%.
Exxon Mobil Profile
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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