Exxon Mobil Co. (NYSE:XOM) Shares Sold by Coerente Capital Management

Coerente Capital Management decreased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 16.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,613 shares of the oil and gas company’s stock after selling 2,135 shares during the period. Exxon Mobil comprises approximately 0.2% of Coerente Capital Management’s investment portfolio, making the stock its 26th largest holding. Coerente Capital Management’s holdings in Exxon Mobil were worth $1,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Exxon Mobil by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after acquiring an additional 1,269,495 shares in the last quarter. Norges Bank acquired a new position in Exxon Mobil during the fourth quarter worth approximately $5,519,753,000. Price T Rowe Associates Inc. MD raised its position in Exxon Mobil by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after purchasing an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after buying an additional 4,080,716 shares during the period. Finally, Capital International Investors increased its holdings in shares of Exxon Mobil by 25.1% in the first 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. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock traded down $1.21 during trading hours on Friday, reaching $116.92. The company had a trading volume of 5,000,365 shares, compared to its average volume of 16,855,670. The business has a fifty day simple moving average of $115.66 and a 200 day simple moving average of $114.18. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75. The firm has a market cap of $461.02 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 4.51 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter last year, the company earned $1.94 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, analysts anticipate that Exxon Mobil Co. will post 8.65 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, August 15th. Exxon Mobil’s dividend payout ratio is 46.57%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on XOM shares. Mizuho lifted their price objective on Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $145.00 price target on shares of Exxon Mobil in a report on Wednesday, May 15th. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Sanford C. Bernstein cut their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company lowered their target price on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.56.

Exxon Mobil Company 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.