PNC Financial Services Group Inc. Cuts Stock Position in Exxon Mobil Corporation $XOM

PNC Financial Services Group Inc. decreased its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,518,446 shares of the oil and gas company’s stock after selling 111,492 shares during the period. Exxon Mobil comprises 0.7% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 22nd biggest position. PNC Financial Services Group Inc. owned approximately 0.25% of Exxon Mobil worth $1,133,888,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Exxon Mobil in the first quarter valued at approximately $2,730,414,000. GQG Partners LLC raised its stake in Exxon Mobil by 15,135.7% in the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company’s stock valued at $1,197,753,000 after buying an additional 10,004,975 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Exxon Mobil during the second quarter worth about $607,621,000. Ameriprise Financial Inc. lifted its holdings in shares of Exxon Mobil by 10.8% in the 1st 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 purchasing an additional 2,639,797 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Exxon Mobil by 72.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company’s stock valued at $598,280,000 after purchasing an additional 2,332,293 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Trading Up 1.2%

Shares of Exxon Mobil stock opened at $119.70 on Wednesday. The business’s fifty day moving average is $113.63 and its two-hundred day moving average is $110.45. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $123.21. The firm has a market cap of $504.78 billion, a PE ratio of 17.00, a P/E/G ratio of 2.06 and a beta of 0.49.

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

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be paid a dividend of $1.03 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, November 14th. Exxon Mobil’s payout ratio is presently 59.88%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on XOM shares. Barclays dropped their price target on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Mizuho lowered their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. UBS Group upped their price target on shares of Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a report on Monday, October 13th. Bank of America lifted their price objective on Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, Morgan Stanley increased their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $128.67.

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.