Assenagon Asset Management S.A. Decreases Stake in Exxon Mobil Co. (NYSE:XOM)

Assenagon Asset Management S.A. reduced its position in Exxon Mobil Co. (NYSE:XOM) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,217,616 shares of the oil and gas company’s stock after selling 102,677 shares during the period. Exxon Mobil accounts for about 0.6% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 23rd biggest position. Assenagon Asset Management S.A. owned about 0.07% of Exxon Mobil worth $382,671,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Kozak & Associates Inc. lifted its position in shares of Exxon Mobil by 3.2% in the first quarter. Kozak & Associates Inc. now owns 4,605 shares of the oil and gas company’s stock worth $548,000 after buying an additional 143 shares in the last quarter. Trueblood Wealth Management LLC increased its stake in Exxon Mobil by 0.8% during the first quarter. Trueblood Wealth Management LLC now owns 14,009 shares of the oil and gas company’s stock worth $1,666,000 after acquiring an additional 109 shares during the last quarter. Moseley Investment Management Inc. increased its stake in Exxon Mobil by 7.9% during the first quarter. Moseley Investment Management Inc. now owns 6,449 shares of the oil and gas company’s stock worth $767,000 after acquiring an additional 471 shares during the last quarter. Petredis Investment Advisors LLC increased its stake in Exxon Mobil by 1,767.3% during the first quarter. Petredis Investment Advisors LLC now owns 61,022 shares of the oil and gas company’s stock worth $7,257,000 after acquiring an additional 57,754 shares during the last quarter. Finally, Curated Wealth Partners LLC bought a new stake in Exxon Mobil during the first quarter worth approximately $367,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Up 2.1%

Shares of NYSE:XOM opened at $107.21 on Wednesday. Exxon Mobil Co. has a 52-week low of $97.80 and a 52-week high of $126.34. The stock has a market cap of $462.04 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 3.02 and a beta of 0.49. The business’s 50 day moving average is $105.04 and its 200 day moving average is $108.89. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The company had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. During the same quarter in the prior year, the firm earned $2.06 earnings per share. Exxon Mobil’s revenue was up .1% compared to the same quarter last year. Sell-side analysts predict that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.69%. Exxon Mobil’s dividend payout ratio is currently 52.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on XOM shares. Royal Bank of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Mizuho reduced their price objective on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Scotiabank reduced their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Barclays reissued a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Morgan Stanley reduced their price objective on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $125.50.

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.