Exxon Mobil Co. (NYSE:XOM) Shares Sold by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 51.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,304 shares of the oil and gas company’s stock after selling 461,496 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Exxon Mobil were worth $51,033,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Towercrest Capital Management grew its position in Exxon Mobil by 30.1% during the 2nd quarter. Towercrest Capital Management now owns 4,122 shares of the oil and gas company’s stock worth $475,000 after purchasing an additional 954 shares during the last quarter. Ausdal Financial Partners Inc. grew its position in Exxon Mobil by 13.4% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 27,278 shares of the oil and gas company’s stock worth $3,140,000 after purchasing an additional 3,225 shares during the last quarter. Wilkinson Global Asset Management LLC grew its position in Exxon Mobil by 3.2% during the 2nd quarter. Wilkinson Global Asset Management LLC now owns 24,520 shares of the oil and gas company’s stock worth $2,823,000 after purchasing an additional 762 shares during the last quarter. Ballentine Partners LLC grew its position in Exxon Mobil by 9.5% during the 2nd quarter. Ballentine Partners LLC now owns 52,477 shares of the oil and gas company’s stock worth $6,041,000 after purchasing an additional 4,572 shares during the last quarter. Finally, Ellis Investment Partners LLC grew its position in Exxon Mobil by 2.3% during the 2nd quarter. Ellis Investment Partners LLC now owns 19,828 shares of the oil and gas company’s stock worth $2,283,000 after purchasing an additional 451 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Stock Down 3.6 %

XOM stock opened at $110.82 on Wednesday. The company has a market cap of $436.96 billion, a P/E ratio of 13.58, a P/E/G ratio of 4.48 and a beta of 0.90. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75. The company’s 50-day moving average price is $115.87 and its 200 day moving average price is $115.00. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. On average, research analysts expect that Exxon Mobil Co. will post 8.37 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is currently 46.57%.

Analyst Ratings Changes

XOM has been the topic of several research reports. UBS Group raised their price objective on shares of Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $145.00 target price on shares of Exxon Mobil in a report on Wednesday, May 15th. Wells Fargo & Company lowered their target price on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Wolfe Research began coverage on shares of Exxon Mobil in a report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.29.

Exxon Mobil Company 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.