Martingale Asset Management L P Sells 65,885 Shares of Exxon Mobil Co. (NYSE:XOM)

Martingale Asset Management L P reduced its position in Exxon Mobil Co. (NYSE:XOM) by 15.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,692 shares of the oil and gas company’s stock after selling 65,885 shares during the quarter. Exxon Mobil accounts for approximately 1.0% of Martingale Asset Management L P’s holdings, making the stock its 15th biggest holding. Martingale Asset Management L P’s holdings in Exxon Mobil were worth $41,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC boosted its holdings in shares of Exxon Mobil by 0.3% in the 3rd quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after buying an additional 395,218 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Exxon Mobil by 16.9% in the 2nd 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 buying an additional 5,330,887 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after buying an additional 5,235,607 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Exxon Mobil by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,160,117 shares of the oil and gas company’s stock valued at $3,652,589,000 after buying an additional 146,374 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $117.66 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $119.70 and a 200-day simple moving average of $116.57. The company has a market cap of $517.13 billion, a PE ratio of 14.65, a P/E/G ratio of 4.94 and a beta of 0.90. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.27 earnings per share. On average, equities research analysts forecast that Exxon Mobil Co. will post 7.94 EPS for the current year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.37%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Analysts Set New Price Targets

Several brokerages recently commented on XOM. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research report on Wednesday, October 9th. Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Wolfe Research lifted their target price on Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. Royal Bank of Canada reduced their price target on Exxon Mobil from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Bank of America initiated coverage on Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.95.

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.