Exxon Mobil Corporation $XOM Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in Exxon Mobil Corporation (NYSE:XOM) by 29.7% in the second quarter, HoldingsChannel.com reports. The firm owned 4,365,796 shares of the oil and gas company’s stock after selling 1,848,548 shares during the quarter. Primecap Management Co. CA’s holdings in Exxon Mobil were worth $470,633,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in XOM. Stonebrook Private Inc. boosted its stake in Exxon Mobil by 7.1% in the 2nd quarter. Stonebrook Private Inc. now owns 8,199 shares of the oil and gas company’s stock worth $884,000 after buying an additional 546 shares during the last quarter. Traub Capital Management LLC purchased a new stake in Exxon Mobil during the 2nd quarter worth $586,000. Highview Capital Management LLC DE grew its stake in shares of Exxon Mobil by 1.4% in the second quarter. Highview Capital Management LLC DE now owns 15,929 shares of the oil and gas company’s stock valued at $1,717,000 after buying an additional 219 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in shares of Exxon Mobil by 5.4% during the second quarter. Perennial Investment Advisors LLC now owns 12,511 shares of the oil and gas company’s stock worth $1,349,000 after purchasing an additional 645 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. grew its stake in shares of Exxon Mobil by 9.3% during the second quarter. Pin Oak Investment Advisors Inc. now owns 39,818 shares of the oil and gas company’s stock valued at $4,735,000 after acquiring an additional 3,375 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $119.02 on Wednesday. The firm has a market cap of $501.91 billion, a PE ratio of 16.91, a P/E/G ratio of 2.06 and a beta of 0.49. The company’s fifty day simple moving average is $114.40 and its 200-day simple moving average is $110.86. 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 Corporation has a 12 month low of $97.80 and a 12 month high of $123.21.

Exxon Mobil (NYSE:XOM) last announced its quarterly 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 firm had revenue of $57.55 billion for the quarter. Equities research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, November 14th. This represents a $4.12 dividend on an annualized basis and a yield of 3.5%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio is presently 59.88%.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on XOM. Barclays cut their price target on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Melius began coverage on Exxon Mobil in a report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price target on the stock. Bank of America increased their price target on Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Wells Fargo & Company initiated coverage on Exxon Mobil in a report on Friday, October 17th. They set an “overweight” rating and a $156.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Exxon Mobil in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus target price of $128.67.

Exxon Mobil Company Profile

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.