Cambria Investment Management L.P. lifted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 188.1% in the third quarter, HoldingsChannel.com reports. The fund owned 67,562 shares of the oil and gas company’s stock after purchasing an additional 44,110 shares during the quarter. Cambria Investment Management L.P.’s holdings in Exxon Mobil were worth $5,539,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Kalos Management Inc. bought a new position in Exxon Mobil during the 3rd quarter valued at about $380,000. Cedar Hill Associates LLC lifted its holdings in Exxon Mobil by 37.1% during the 3rd quarter. Cedar Hill Associates LLC now owns 18,560 shares of the oil and gas company’s stock valued at $1,521,000 after purchasing an additional 5,024 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its holdings in Exxon Mobil by 1,222.8% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 62,068 shares of the oil and gas company’s stock valued at $5,089,000 after purchasing an additional 57,376 shares during the last quarter. Patten Group Inc. lifted its holdings in Exxon Mobil by 956.2% during the 3rd quarter. Patten Group Inc. now owns 378,132 shares of the oil and gas company’s stock valued at $2,819,000 after purchasing an additional 342,331 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in Exxon Mobil during the 3rd quarter valued at about $14,758,000. 53.18% of the stock is owned by institutional investors.
Several brokerages recently issued reports on XOM. Societe Generale set a $87.00 price target on shares of Exxon Mobil and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Co reissued a “market perform” rating and set a $82.00 price target (down from $87.00) on shares of Exxon Mobil in a report on Thursday, March 8th. Royal Bank of Canada set a $90.00 price target on shares of Exxon Mobil and gave the company a “hold” rating in a report on Thursday, March 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $83.00 price target on shares of Exxon Mobil in a report on Thursday, March 8th. Finally, Citigroup reissued a “neutral” rating and set a $81.00 price target (down from $84.00) on shares of Exxon Mobil in a report on Thursday, March 8th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $86.05.
Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.18). Exxon Mobil had a return on equity of 8.00% and a net margin of 7.61%. The business had revenue of $66.52 billion for the quarter, compared to analyst estimates of $74.41 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. research analysts expect that Exxon Mobil Co. will post 4.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Monday, February 12th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Friday, February 9th. Exxon Mobil’s dividend payout ratio is currently 95.36%.
In related news, VP Neil A. Chapman sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $83.05, for a total transaction of $996,600.00. Following the completion of the transaction, the vice president now owns 291,385 shares in the company, valued at $24,199,524.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.08% of the stock is currently owned by insiders.
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Exxon Mobil Profile
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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