Cornerstone Wealth Group LLC lessened its stake in Exxon Mobil Co. (NYSE:XOM) by 35.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,038 shares of the oil and gas company’s stock after selling 5,057 shares during the period. Cornerstone Wealth Group LLC’s holdings in Exxon Mobil were worth $310,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of XOM. JGP Wealth Management LLC increased its position in shares of Exxon Mobil by 1.8% in the 2nd quarter. JGP Wealth Management LLC now owns 13,244 shares of the oil and gas company’s stock valued at $571,000 after buying an additional 239 shares in the last quarter. Cedar Brook Financial Partners LLC boosted its position in shares of Exxon Mobil by 1.6% during the 2nd quarter. Cedar Brook Financial Partners LLC now owns 15,329 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 248 shares in the last quarter. Vicus Capital boosted its position in Exxon Mobil by 0.9% in the second quarter. Vicus Capital now owns 27,905 shares of the oil and gas company’s stock valued at $1,248,000 after buying an additional 249 shares in the last quarter. Cedar Capital LLC boosted its position in Exxon Mobil by 2.6% in the second quarter. Cedar Capital LLC now owns 10,073 shares of the oil and gas company’s stock valued at $450,000 after buying an additional 258 shares in the last quarter. Finally, HighMark Wealth Management LLC boosted its position in Exxon Mobil by 8.8% in the second quarter. HighMark Wealth Management LLC now owns 3,244 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 50.90% of the company’s stock.
XOM has been the topic of a number of recent research reports. JPMorgan Chase & Co. set a $37.00 price target on shares of Exxon Mobil and gave the stock a “neutral” rating in a report on Friday. SunTrust Banks assumed coverage on shares of Exxon Mobil in a research note on Thursday, July 23rd. They issued a “hold” rating and a $41.00 target price on the stock. Raymond James reiterated a “sell” rating on shares of Exxon Mobil in a research note on Friday, September 18th. Morgan Stanley dropped their target price on shares of Exxon Mobil from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, October 19th. Finally, Standpoint Research raised shares of Exxon Mobil from a “hold” rating to a “buy” rating in a research report on Friday, September 11th. Four research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $49.58.
Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.70) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.61) by ($0.09). The company had revenue of $32.61 billion during the quarter, compared to the consensus estimate of $38.16 billion. Exxon Mobil had a return on equity of 2.09% and a net margin of 3.24%. Exxon Mobil’s quarterly revenue was down 52.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. As a group, equities research analysts predict that Exxon Mobil Co. will post -0.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 12th will be issued a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 10.79%. The ex-dividend date is Tuesday, November 10th. Exxon Mobil’s payout ratio is 154.67%.
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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