Kornitzer Capital Management Inc. KS Has $82.22 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

by · The Markets Daily

Kornitzer Capital Management Inc. KS increased its holdings in Exxon Mobil Co. (NYSE:XOM – Free Report) by 0.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 701,401 shares of the oil and gas company’s stock after purchasing an additional 2,668 shares during the period. Exxon Mobil makes up about 1.5% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 6th biggest holding. Kornitzer Capital Management Inc. KS’s holdings in Exxon Mobil were worth $82,218,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Patron Partners LLC grew its holdings in shares of Exxon Mobil by 7.4% in the second quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after purchasing an additional 2,564 shares during the last quarter. Global Wealth Management Investment Advisory Inc. grew its holdings in Exxon Mobil by 10.7% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock worth $5,532,000 after acquiring an additional 4,578 shares during the last quarter. YHB Investment Advisors Inc. increased its position in shares of Exxon Mobil by 5.9% in the second quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock valued at $3,770,000 after acquiring an additional 1,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Exxon Mobil by 79.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after acquiring an additional 380,399 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in shares of Exxon Mobil by 64.6% during the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after acquiring an additional 379,747 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XOM. Morgan Stanley reduced their price target on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price on the stock. in a research note on Wednesday, October 9th. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. The Goldman Sachs Group lifted their price target on shares of Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. Finally, Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $129.95.

View Our Latest Stock Report on XOM

Exxon Mobil Trading Down 0.0 %

NYSE XOM opened at $121.11 on Friday. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. 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’s fifty day moving average price is $117.91 and its 200-day moving average price is $116.40. The stock has a market cap of $532.29 billion, a P/E ratio of 15.08, a P/E/G ratio of 5.07 and a beta of 0.90.

Exxon Mobil (NYSE:XOM – Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 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 the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.27 EPS. As a group, equities analysts forecast that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.27%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is 47.32%.

About Exxon Mobil

(Free Report)

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.

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