W.H. Cornerstone Investments Inc. Buys 2,606 Shares of Exxon Mobil Corporation $XOM

W.H. Cornerstone Investments Inc. increased its holdings in Exxon Mobil Corporation (NYSE:XOM) by 23.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,585 shares of the oil and gas company’s stock after buying an additional 2,606 shares during the quarter. Exxon Mobil comprises approximately 0.9% of W.H. Cornerstone Investments Inc.’s portfolio, making the stock its 24th biggest position. W.H. Cornerstone Investments Inc.’s holdings in Exxon Mobil were worth $1,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Exxon Mobil by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 96,307,931 shares of the oil and gas company’s stock valued at $10,345,132,000 after buying an additional 342,967 shares during the period. Bank of New York Mellon Corp grew its stake in Exxon Mobil by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock worth $5,023,298,000 after purchasing an additional 1,274,860 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock worth $3,850,167,000 after purchasing an additional 512,860 shares during the period. Ameriprise Financial Inc. raised its position in Exxon Mobil by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after purchasing an additional 2,639,797 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Exxon Mobil by 9.7% in the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock worth $2,966,598,000 after buying an additional 2,329,964 shares during the period. Institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on XOM. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Monday, November 3rd. Wells Fargo & Company initiated coverage on Exxon Mobil in a research note on Friday, October 17th. They issued an “overweight” rating and a $156.00 price objective for the company. Morgan Stanley raised their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. UBS Group boosted their price target on Exxon Mobil from $143.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Melius began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.67.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

XOM traded up $0.49 during trading on Thursday, reaching $118.61. The stock had a trading volume of 1,369,742 shares, compared to its average volume of 16,084,414. The stock has a 50 day moving average of $113.75 and a two-hundred day moving average of $110.50. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $123.21. The firm has a market capitalization of $500.19 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $57.55 billion for the quarter. As a group, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $4.12 annualized dividend and a yield of 3.5%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s payout ratio is presently 59.88%.

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.