Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

by · The Markets Daily

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,139,855 shares of the oil and gas company’s stock after buying an additional 87,096 shares during the period. Exxon Mobil accounts for 0.7% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 17th biggest holding. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Exxon Mobil were worth $250,834,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Patron Partners LLC lifted its position 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 valued at $4,294,000 after acquiring an additional 2,564 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted 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 purchasing an additional 4,578 shares in the last quarter. YHB Investment Advisors Inc. boosted its stake in Exxon Mobil by 5.9% in the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after purchasing an additional 1,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Exxon Mobil by 79.4% during the 2nd 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 buying an additional 380,399 shares in the last quarter. Finally, Blair William & Co. IL raised its position 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 buying an additional 379,747 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on XOM. Bank of America began coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price for the company. Wells Fargo & Company raised their price objective on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. BMO Capital Markets increased their price target on Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Friday, October 4th. Finally, Barclays reduced their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Read Our Latest Stock Report on Exxon Mobil

Exxon Mobil Stock Down 0.3 %

Shares of NYSE XOM opened at $117.66 on Thursday. The company has a market cap of $517.13 billion, a P/E ratio of 14.65, a PEG ratio of 5.04 and a beta of 0.90. The firm has a 50-day simple moving average of $119.67 and a two-hundred day simple moving average of $116.57. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM – Get Free Report) last issued its 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. The business had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $2.27 earnings per share. Research analysts anticipate that Exxon Mobil Co. will post 7.94 earnings per share for the current year.

Exxon Mobil Increases Dividend

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

Exxon Mobil Company Profile

(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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