Nuveen Asset Management LLC reduced its position in Exxon Mobil Corporation (NYSE:XOM) by 51.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 556,168 shares of the oil and gas company’s stock after selling 578,498 shares during the period. Nuveen Asset Management LLC’s holdings in Exxon Mobil Corporation were worth $45,611,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of XOM. Norges Bank purchased a new stake in shares of Exxon Mobil Corporation during the fourth quarter worth about $3,306,084,000. State Street Corp raised its stake in shares of Exxon Mobil Corporation by 7.9% in the first quarter. State Street Corp now owns 215,767,383 shares of the oil and gas company’s stock worth $17,695,085,000 after buying an additional 15,740,895 shares in the last quarter. Pioneer Investment Management Inc. raised its stake in shares of Exxon Mobil Corporation by 142.4% in the first quarter. Pioneer Investment Management Inc. now owns 2,219,877 shares of the oil and gas company’s stock worth $182,052,000 after buying an additional 1,304,036 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Exxon Mobil Corporation by 6.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 19,116,927 shares of the oil and gas company’s stock worth $1,567,780,000 after buying an additional 1,150,881 shares in the last quarter. Finally, Alkeon Capital Management LLC purchased a new stake in shares of Exxon Mobil Corporation during the fourth quarter worth about $72,935,000. 50.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Exxon Mobil Corporation (NYSE:XOM) traded up 0.76% during midday trading on Tuesday, reaching $76.96. The company’s stock had a trading volume of 3,229,414 shares. The firm has a market capitalization of $326.09 billion, a price-to-earnings ratio of 27.74 and a beta of 0.81. Exxon Mobil Corporation has a 52 week low of $76.05 and a 52 week high of $93.22. The firm’s 50 day moving average is $79.82 and its 200 day moving average is $81.39.
Exxon Mobil Corporation (NYSE:XOM) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.05. The company had revenue of $62.88 billion for the quarter, compared to analyst estimates of $61.35 billion. Exxon Mobil Corporation had a return on equity of 7.62% and a net margin of 4.75%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. Equities analysts forecast that Exxon Mobil Corporation will post $3.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Thursday, August 10th. Exxon Mobil Corporation’s dividend payout ratio is presently 111.19%.
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A number of equities analysts have weighed in on the company. Bank of America Corporation raised Exxon Mobil Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $100.00 in a research note on Thursday, May 11th. Wolfe Research lowered Exxon Mobil Corporation from a “market perform” rating to an “underperform” rating in a research note on Monday, July 17th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $83.00 price objective on shares of Exxon Mobil Corporation in a research note on Tuesday, May 30th. Zacks Investment Research lowered Exxon Mobil Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, July 14th. Finally, BMO Capital Markets boosted their price objective on Exxon Mobil Corporation from $76.00 to $80.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 21st. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $84.90.
In other Exxon Mobil Corporation news, Director Steven Reinemund sold 1,100 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $80.23, for a total transaction of $88,253.00. Following the transaction, the director now owns 43,125 shares in the company, valued at $3,459,918.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company’s stock.
About Exxon Mobil Corporation
Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
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