Pinnacle Financial Partners Inc Increases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Pinnacle Financial Partners Inc boosted its holdings in Exxon Mobil Co. (NYSE:XOM) by 11.2% in the 3rd quarter, Holdings Channel reports. The firm owned 736,798 shares of the oil and gas company’s stock after purchasing an additional 74,419 shares during the period. Exxon Mobil accounts for about 1.7% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 11th biggest holding. Pinnacle Financial Partners Inc’s holdings in Exxon Mobil were worth $86,367,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after buying an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Exxon Mobil by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after purchasing an additional 4,080,716 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares during the period. Legal & General Group Plc lifted its holdings in shares of Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. Finally, Capital International Investors grew its position in Exxon Mobil by 25.1% in the 1st 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 buying an additional 5,523,429 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on XOM. The Goldman Sachs Group raised their target price on shares of Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Morgan Stanley dropped their target price on Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. UBS Group cut their target price on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Sanford C. Bernstein decreased their price target 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $121.50 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The company has a market capitalization of $534.00 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 5.05 and a beta of 0.90. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The stock has a fifty day moving average of $118.06 and a two-hundred day moving average of $116.34.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. During the same period in the previous year, the firm posted $2.27 earnings per share. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, analysts anticipate that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s dividend payout ratio is presently 49.32%.

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.