Wedbush Securities Inc. raised its stake in shares of Exxon Mobil Corp. (NYSE:XOM) by 3.6% during the second quarter, Holdings Channel reports. The firm owned 70,700 shares of the company’s stock after buying an additional 2,473 shares during the period. Exxon Mobil Corp. accounts for 1.1% of Wedbush Securities Inc.’s portfolio, making the stock its 6th largest position. Wedbush Securities Inc.’s holdings in Exxon Mobil Corp. were worth $6,627,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in XOM. NewSquare Capital LLC raised its position in Exxon Mobil Corp. by 2.1% in the second quarter. NewSquare Capital LLC now owns 1,603 shares of the company’s stock valued at $150,000 after buying an additional 33 shares during the period. Proficio Capital Partners LLC raised its position in Exxon Mobil Corp. by 189.9% in the second quarter. Proficio Capital Partners LLC now owns 2,215 shares of the company’s stock valued at $200,000 after buying an additional 1,451 shares during the period. Investment House LLC acquired a new position in Exxon Mobil Corp. during the second quarter valued at approximately $206,000. Banced Corp raised its position in Exxon Mobil Corp. by 7.5% in the second quarter. Banced Corp now owns 2,832 shares of the company’s stock valued at $210,000 after buying an additional 197 shares during the period. Finally, Provident Trust Co. acquired a new position in Exxon Mobil Corp. during the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 50.42% of the company’s stock.
Shares of Exxon Mobil Corp. (NYSE:XOM) traded down 0.34% during mid-day trading on Friday, reaching $86.74. 6,614,908 shares of the company’s stock traded hands. Exxon Mobil Corp. has a one year low of $71.55 and a one year high of $95.55. The firm’s 50-day moving average is $86.27 and its 200 day moving average is $88.28. The firm has a market cap of $359.68 billion, a price-to-earnings ratio of 34.45 and a beta of 0.83.
Exxon Mobil Corp. (NYSE:XOM) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.23. The business had revenue of $57.69 billion for the quarter, compared to analyst estimates of $60.23 billion. Exxon Mobil Corp. had a return on equity of 5.94% and a net margin of 4.51%. The firm’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.00 EPS. Analysts predict that Exxon Mobil Corp. will post $2.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 12th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, August 10th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.46%. Exxon Mobil Corp.’s payout ratio is 119.05%.
Several equities analysts have commented on XOM shares. Barclays PLC lowered their price objective on shares of Exxon Mobil Corp. to $100.00 in a research report on Monday, August 1st. Vetr upgraded shares of Exxon Mobil Corp. from a “hold” rating to a “buy” rating and set a $95.77 target price for the company in a report on Tuesday, July 26th. Goldman Sachs Group Inc. set a $102.00 target price on shares of Exxon Mobil Corp. and gave the stock a “buy” rating in a report on Thursday, July 14th. Zacks Investment Research upgraded shares of Exxon Mobil Corp. from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Tuesday, July 5th. Finally, Societe Generale set a $105.00 target price on shares of Exxon Mobil Corp. and gave the stock a “buy” rating in a report on Monday, August 15th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $87.68.
In related news, VP Robert Stuart Franklin sold 13,855 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $87.93, for a total transaction of $1,218,270.15. Following the sale, the vice president now directly owns 213,256 shares in the company, valued at $18,751,600.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.
About Exxon Mobil Corp.
Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas, manufacturing of petroleum products, and transportation and sale of crude oil, natural gas and petroleum products. The Company also manufactures and markets petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and various specialty products.