Northwest Bancshares Inc. reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 23,835 shares of the oil and gas company’s stock after selling 703 shares during the quarter. Northwest Bancshares Inc.’s holdings in Exxon Mobil were worth $1,683,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in XOM. Nuveen Asset Management LLC grew its stake in shares of Exxon Mobil by 5,514.1% during the second quarter. Nuveen Asset Management LLC now owns 22,672,032 shares of the oil and gas company’s stock valued at $1,737,358,000 after buying an additional 22,268,191 shares during the last quarter. FMR LLC grew its stake in shares of Exxon Mobil by 6.8% during the first quarter. FMR LLC now owns 47,767,853 shares of the oil and gas company’s stock valued at $3,859,642,000 after buying an additional 3,038,704 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Exxon Mobil by 0.9% during the second quarter. Vanguard Group Inc. now owns 347,643,903 shares of the oil and gas company’s stock valued at $26,639,953,000 after buying an additional 2,953,857 shares during the last quarter. Thoroughbred Financial Services LLC grew its stake in shares of Exxon Mobil by 7,471.5% during the second quarter. Thoroughbred Financial Services LLC now owns 1,771,803 shares of the oil and gas company’s stock valued at $177,180,000 after buying an additional 1,748,402 shares during the last quarter. Finally, BlackRock Inc. grew its stake in shares of Exxon Mobil by 0.4% during the second quarter. BlackRock Inc. now owns 280,882,107 shares of the oil and gas company’s stock valued at $21,523,998,000 after buying an additional 1,069,038 shares during the last quarter. 54.42% of the stock is currently owned by hedge funds and other institutional investors.
XOM traded up $0.72 on Wednesday, hitting $67.43. The company had a trading volume of 4,088,359 shares, compared to its average volume of 11,486,186. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.74 and a quick ratio of 0.47. Exxon Mobil Co. has a 52-week low of $64.65 and a 52-week high of $86.88. The stock has a fifty day simple moving average of $70.11 and a 200-day simple moving average of $74.85. The firm has a market capitalization of $291.82 billion, a P/E ratio of 13.68, a P/E/G ratio of 2.02 and a beta of 0.99.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 13th were issued a $0.87 dividend. The ex-dividend date was Monday, August 12th. This represents a $3.48 annualized dividend and a yield of 5.16%. Exxon Mobil’s dividend payout ratio (DPR) is presently 70.59%.
In other Exxon Mobil news, VP Robert N. Schleckser sold 9,345 shares of the firm’s stock in a transaction dated 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 in the company, valued at $13,445,432. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.05% of the company’s stock.
A number of research analysts have recently issued reports on XOM shares. DZ Bank raised Exxon Mobil from a “sell” rating to a “hold” rating and reduced their price objective for the company from $72.00 to $70.00 in a research note on Tuesday, August 6th. UBS Group cut their target price on Exxon Mobil from $87.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, August 23rd. Zacks Investment Research cut Exxon Mobil from a “hold” rating to a “strong sell” rating and set a $79.00 target price on the stock. in a research note on Monday, July 22nd. Bank of America reissued a “buy” rating and issued a $100.00 target price on shares of Exxon Mobil in a research note on Friday, September 27th. Finally, Morgan Stanley cut their target price on Exxon Mobil from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $80.52.
About Exxon Mobil
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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