Palisade Asset Management LLC Lowers Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Palisade Asset Management LLC cut its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,604 shares of the oil and gas company’s stock after selling 304 shares during the period. Palisade Asset Management LLC’s holdings in Exxon Mobil were worth $7,089,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in XOM. Geode Capital Management LLC lifted its holdings in Exxon Mobil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock worth $10,023,875,000 after buying an additional 1,104,617 shares in the last quarter. Norges Bank purchased a new stake in shares of Exxon Mobil during the fourth quarter worth $6,936,737,000. Northern Trust Corp raised its stake in shares of Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Exxon Mobil by 14.4% in the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares during the period. Finally, Franklin Resources Inc. grew its stake in Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM opened at $108.45 on Wednesday. The company’s 50 day simple moving average is $106.83 and its 200-day simple moving average is $108.54. The firm has a market cap of $467.39 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.24 and a beta of 0.49. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The firm had revenue of $83.13 billion during the quarter, compared to analysts’ expectations of $86.11 billion. During the same quarter in the prior year, the business earned $2.06 EPS. Exxon Mobil’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 52.52%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on XOM. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Barclays restated a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. UBS Group decreased their price target on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a research note on Monday, April 14th. TD Cowen boosted their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a report on Monday. Finally, Mizuho reduced their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $125.50.

About Exxon Mobil

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.