Davis Investment Partners LLC Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Davis Investment Partners LLC cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 6.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,161 shares of the oil and gas company’s stock after selling 1,990 shares during the quarter. Exxon Mobil comprises approximately 1.3% of Davis Investment Partners LLC’s portfolio, making the stock its 12th biggest holding. Davis Investment Partners LLC’s holdings in Exxon Mobil were worth $3,077,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Dupree Financial Group LLC purchased a new position in Exxon Mobil during the fourth quarter worth about $378,000. Intact Investment Management Inc. increased its stake in Exxon Mobil by 225.7% during the fourth quarter. Intact Investment Management Inc. now owns 68,400 shares of the oil and gas company’s stock worth $6,839,000 after acquiring an additional 47,400 shares during the last quarter. AJOVista LLC acquired a new stake in Exxon Mobil during the fourth quarter worth about $312,000. Kinsale Capital Group Inc. increased its stake in Exxon Mobil by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 38,963 shares of the oil and gas company’s stock worth $3,896,000 after acquiring an additional 9,657 shares during the last quarter. Finally, Buckingham Capital Management Inc. increased its stake in Exxon Mobil by 24.4% during the fourth quarter. Buckingham Capital Management Inc. now owns 10,395 shares of the oil and gas company’s stock worth $1,039,000 after acquiring an additional 2,040 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays dropped their price target on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Mizuho upped their price target on Exxon Mobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Wolfe Research began coverage on Exxon Mobil in a research note on Thursday, July 18th. They set an “outperform” rating and a $146.00 price target for the company. UBS Group increased their target price on Exxon Mobil from $152.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $135.00 target price on shares of Exxon Mobil in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.39.

Exxon Mobil Trading Down 0.5 %

NYSE:XOM opened at $118.17 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $114.69 and its two-hundred day moving average is $113.47. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75. The company has a market cap of $465.95 billion, a PE ratio of 14.48, a P/E/G ratio of 4.51 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter last year, the business posted $1.94 EPS. Exxon Mobil’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts predict that Exxon Mobil Co. will post 8.65 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, August 15th. Exxon Mobil’s payout ratio is 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.