Taylor Hoffman Wealth Management lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,142 shares of the oil and gas company’s stock after selling 4,700 shares during the quarter. Exxon Mobil makes up approximately 3.0% of Taylor Hoffman Wealth Management’s holdings, making the stock its 3rd biggest holding. Taylor Hoffman Wealth Management’s holdings in Exxon Mobil were worth $3,486,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of XOM. First Eagle Investment Management LLC grew its holdings in Exxon Mobil by 43.0% during the 1st quarter. First Eagle Investment Management LLC now owns 18,085,596 shares of the oil and gas company’s stock worth $1,349,366,000 after acquiring an additional 5,440,412 shares during the last quarter. Eaton Vance Management lifted its position in Exxon Mobil by 53.6% during the 1st quarter. Eaton Vance Management now owns 8,984,456 shares of the oil and gas company’s stock valued at $670,382,000 after purchasing an additional 3,136,452 shares during the period. BlackRock Inc. lifted its position in Exxon Mobil by 1.2% during the 1st quarter. BlackRock Inc. now owns 260,822,111 shares of the oil and gas company’s stock valued at $19,459,936,000 after purchasing an additional 2,982,610 shares during the period. OppenheimerFunds Inc. lifted its position in Exxon Mobil by 224.5% during the 1st quarter. OppenheimerFunds Inc. now owns 3,772,320 shares of the oil and gas company’s stock valued at $281,452,000 after purchasing an additional 2,609,710 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its position in Exxon Mobil by 8,906.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,605,545 shares of the oil and gas company’s stock valued at $19,636,000 after purchasing an additional 1,587,718 shares during the period. 52.44% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have issued reports on XOM. JPMorgan Chase & Co. restated a “neutral” rating on shares of Exxon Mobil in a research report on Tuesday. Zacks Investment Research upgraded shares of Exxon Mobil from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Thursday, October 25th. Piper Jaffray Companies restated a “neutral” rating on shares of Exxon Mobil in a research report on Tuesday, October 23rd. Jefferies Financial Group set a $87.00 target price on shares of Exxon Mobil and gave the company a “neutral” rating in a research report on Friday, October 19th. Finally, Macquarie restated a “sell” rating and set a $70.00 target price on shares of Exxon Mobil in a research report on Friday, October 19th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $86.69.
In related news, VP Bradley W. Corson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $84.02, for a total value of $1,260,300.00. Following the sale, the vice president now directly owns 214,774 shares in the company, valued at approximately $18,045,311.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.
Exxon Mobil Company 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 also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.
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