Pinnacle West Asset Management Inc. Has $2.17 Million Stake in Exxon Mobil Corporation $XOM

Pinnacle West Asset Management Inc. decreased its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.7% in the 2nd quarter, Holdings Channel reports. The fund owned 20,085 shares of the oil and gas company’s stock after selling 140 shares during the period. Exxon Mobil accounts for 1.5% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 20th largest holding. Pinnacle West Asset Management Inc.’s holdings in Exxon Mobil were worth $2,165,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock valued at $5,390,318,000 after buying an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Exxon Mobil by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after buying an additional 512,860 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after buying an additional 2,639,797 shares during the period. Amundi increased its stake in shares of Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock valued at $2,966,598,000 after buying an additional 2,329,964 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock valued at $3,028,968,000 after buying an additional 909,386 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM opened at $112.11 on Tuesday. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $124.26. The business’s fifty day moving average is $111.42 and its 200 day moving average is $109.32. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a market cap of $477.97 billion, a P/E ratio of 15.93, a P/E/G ratio of 2.00 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $57.55 billion for the quarter. Sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 56.25%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on XOM. TD Cowen upped their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Mizuho decreased their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Morgan Stanley increased their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Melius Research began coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Finally, Piper Sandler set a $141.00 target price on shares of Exxon Mobil in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $126.05.

About Exxon Mobil

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.