PNC Financial Services Group Inc. Trims Holdings in Exxon Mobil Corporation $XOM

PNC Financial Services Group Inc. trimmed its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,518,446 shares of the oil and gas company’s stock after selling 111,492 shares during the quarter. Exxon Mobil makes up 0.7% of PNC Financial Services Group Inc.’s portfolio, making the stock its 22nd biggest position. PNC Financial Services Group Inc.’s holdings in Exxon Mobil were worth $1,133,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Graybill Wealth Management LTD. bought a new stake in Exxon Mobil in the first quarter valued at about $29,000. Elequin Capital LP bought a new position in Exxon Mobil during the 1st quarter worth approximately $31,000. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 300 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Exxon Mobil during the 2nd quarter valued at approximately $38,000. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on XOM. Bank of America lifted their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Barclays reduced their price target on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Morgan Stanley boosted their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Melius Research assumed coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price on the stock. Finally, Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.67.

Insider Buying and Selling at Exxon Mobil

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

Exxon Mobil Stock Up 1.2%

NYSE XOM opened at $119.70 on Wednesday. The company has a market capitalization of $504.78 billion, a P/E ratio of 17.00, a PEG ratio of 2.06 and a beta of 0.49. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $123.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The company’s 50 day simple moving average is $113.63 and its 200 day simple moving average is $110.45.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 EPS 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 during the quarter. Equities research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently disclosed 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 3.4%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is currently 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.