Icon Advisers Inc. Co. lowered its position in Exxon Mobil Co. (NYSE:XOM) by 26.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 202,100 shares of the oil and gas company’s stock after selling 71,400 shares during the period. Exxon Mobil comprises approximately 1.5% of Icon Advisers Inc. Co.’s holdings, making the stock its 14th largest position. Icon Advisers Inc. Co.’s holdings in Exxon Mobil were worth $15,487,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Asset Planning Services Ltd. increased its holdings in Exxon Mobil by 1,984.0% in the second quarter. Asset Planning Services Ltd. now owns 521 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 496 shares in the last quarter. Massey Quick Simon & CO. LLC increased its holdings in Exxon Mobil by 625.3% in the fourth quarter. Massey Quick Simon & CO. LLC now owns 544 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 469 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new position in Exxon Mobil in the second quarter valued at about $45,000. INR Advisory Services LLC purchased a new position in Exxon Mobil in the fourth quarter valued at about $43,000. Finally, Interactive Financial Advisors purchased a new position in Exxon Mobil in the first quarter valued at about $65,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.
XOM has been the subject of a number of recent research reports. Bank of America reissued a “buy” rating and set a $100.00 price objective on shares of Exxon Mobil in a research note on Monday, August 5th. JPMorgan Chase & Co. set a $83.00 price objective on shares of Exxon Mobil and gave the stock a “hold” rating in a research note on Sunday, August 4th. Barclays initiated coverage on shares of Exxon Mobil in a research note on Monday. They set an “equal weight” rating and a $73.00 price objective for the company. BMO Capital Markets initiated coverage on shares of Exxon Mobil in a research note on Tuesday. They set a “market perform” rating and a $86.00 price objective for the company. Finally, Berenberg Bank reissued a “hold” rating and set a $76.00 price objective on shares of Exxon Mobil in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $81.83.
Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.05. The firm had revenue of $69.09 billion during the quarter, compared to analysts’ expectations of $64.47 billion. Exxon Mobil had a net margin of 6.30% and a return on equity of 9.16%. Exxon Mobil’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. Research analysts forecast that Exxon Mobil Co. will post 3.2 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 13th will be paid a $0.87 dividend. The ex-dividend date is Monday, August 12th. This represents a $3.48 annualized dividend and a yield of 5.05%. Exxon Mobil’s payout ratio is currently 70.59%.
In other Exxon Mobil news, VP Robert N. Schleckser sold 9,345 shares of Exxon Mobil stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $70.84, for a total value of $661,999.80. Following the completion of the sale, the vice president now directly owns 189,800 shares of the company’s stock, valued at approximately $13,445,432. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by insiders.
Exxon Mobil Profile
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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