Comerica Bank Purchases 80,818 Shares of Exxon Mobil Co. (NYSE:XOM)

Comerica Bank grew its position in shares of Exxon Mobil Co. (NYSE:XOM) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,570,767 shares of the oil and gas company’s stock after buying an additional 80,818 shares during the quarter. Exxon Mobil accounts for approximately 0.8% of Comerica Bank’s investment portfolio, making the stock its 15th biggest holding. Comerica Bank’s holdings in Exxon Mobil were worth $180,827,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Exxon Mobil by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after purchasing an additional 1,269,495 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Exxon Mobil by 6.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after buying an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp grew its stake in 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 grew its stake in 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. Finally, Legal & General Group Plc grew its stake in 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. Institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on XOM shares. Sanford C. Bernstein reduced their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Redburn Atlantic restated a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Barclays reduced their price target on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company boosted their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.00.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $115.83 on Friday. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The company’s 50-day moving average is $115.76 and its 200 day moving average is $115.61. The stock has a market capitalization of $456.72 billion, a P/E ratio of 14.19, a P/E/G ratio of 4.86 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. Exxon Mobil’s quarterly revenue was up 12.2% on a year-over-year basis. On average, sell-side analysts expect that Exxon Mobil Co. will post 8.06 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

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.