Primecap Management Co. CA Sells 1,848,548 Shares of Exxon Mobil Corporation $XOM

Primecap Management Co. CA lessened its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 29.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,365,796 shares of the oil and gas company’s stock after selling 1,848,548 shares during the quarter. Primecap Management Co. CA owned about 0.10% of Exxon Mobil worth $470,633,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of XOM. Stonebrook Private Inc. increased its holdings in shares of Exxon Mobil by 7.1% in the 2nd quarter. Stonebrook Private Inc. now owns 8,199 shares of the oil and gas company’s stock worth $884,000 after buying an additional 546 shares during the last quarter. Traub Capital Management LLC purchased a new position in shares of Exxon Mobil during the second quarter valued at approximately $586,000. Highview Capital Management LLC DE raised its holdings in shares of Exxon Mobil by 1.4% in the second quarter. Highview Capital Management LLC DE now owns 15,929 shares of the oil and gas company’s stock worth $1,717,000 after buying an additional 219 shares during the period. Perennial Investment Advisors LLC boosted its holdings in Exxon Mobil by 5.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 12,511 shares of the oil and gas company’s stock valued at $1,349,000 after acquiring an additional 645 shares during the period. Finally, Pin Oak Investment Advisors Inc. grew its position in Exxon Mobil by 9.3% in the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 39,818 shares of the oil and gas company’s stock valued at $4,735,000 after acquiring an additional 3,375 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insider Buying and Selling at Exxon Mobil

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

Exxon Mobil Stock Up 1.1%

Shares of XOM opened at $119.02 on Wednesday. The company’s 50-day moving average price is $114.40 and its 200 day moving average price is $110.86. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The firm has a market cap of $501.91 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The business 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%. On average, sell-side analysts forecast 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. Stockholders of record on Friday, November 14th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 3.5%. Exxon Mobil’s payout ratio is 59.88%.

Analyst Ratings Changes

XOM has been the subject of several analyst reports. Wall Street Zen raised shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Mizuho cut their price objective on Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Melius Research initiated coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. UBS Group increased their price objective 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. Finally, 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. Two research 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. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $128.67.

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.