Primecap Management Co. CA Acquires Shares of 8,514,677 Exxon Mobil Co. (NYSE:XOM)

Primecap Management Co. CA acquired a new stake in shares of Exxon Mobil Co. (NYSE:XOM) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 8,514,677 shares of the oil and gas company’s stock, valued at approximately $980,210,000. Primecap Management Co. CA owned 0.22% of Exxon Mobil at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of XOM. Massachusetts Financial Services Co. MA lifted its stake in shares of Exxon Mobil by 532.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Global Assets Advisory LLC lifted its stake in shares of Exxon Mobil by 16,399.4% in the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after purchasing an additional 12,540,435 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Exxon Mobil by 565.3% in the 4th quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock valued at $1,317,817,000 after purchasing an additional 11,199,696 shares during the period. Capital International Investors lifted its stake in shares of Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $114.22 on Wednesday. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75. The firm has a market capitalization of $450.37 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 4.38 and a beta of 0.90. The company has a fifty day simple moving average of $115.73 and a 200-day simple moving average of $115.25. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The business had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same quarter in the prior year, the firm earned $1.94 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities analysts anticipate that Exxon Mobil Co. will post 8.36 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.33%. Exxon Mobil’s payout ratio is 46.57%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on XOM. Mizuho boosted their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday. Wolfe Research assumed coverage on shares of Exxon Mobil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price for the company. Barclays cut their price target on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company cut their price target on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 price target on shares of Exxon Mobil in a report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.24.

Exxon Mobil Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.