Spectrum Asset Management Inc. NB CA Buys 2,958 Shares of Exxon Mobil Corporation $XOM

Key Points

• Spectrum Asset Management Inc. increased its holdings in Exxon Mobil Corporation by 7.8% during the 2nd quarter, purchasing an additional 2,958 shares to reach a total of 41,054 shares valued at approximately $4.43 million.
• Analyst ratings for Exxon Mobil show a consensus average rating of "Moderate Buy" with a price target of $125.95, as multiple firms have recently raised their price targets.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, representing an annualized dividend of $3.96 with a yield of 3.5% as of the last payment date.

Spectrum Asset Management Inc. NB CA boosted its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,054 shares of the oil and gas company's stock after buying an additional 2,958 shares during the quarter. Exxon Mobil makes up approximately 1.9% of Spectrum Asset Management Inc. NB CA's investment portfolio, making the stock its 19th biggest holding. Spectrum Asset Management Inc. NB CA's holdings in Exxon Mobil were worth $4,426,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in Exxon Mobil by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock valued at $5,390,318,000 after buying an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Exxon Mobil by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock worth $3,850,167,000 after purchasing an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares during the last quarter. Amundi grew its holdings in Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock worth $2,966,598,000 after purchasing an additional 2,329,964 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock worth $3,028,968,000 after purchasing an additional 909,386 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on XOM. Bank of America lifted their price target on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a report on Thursday. TD Cowen lifted their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, UBS Group lifted their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, Exxon Mobil has an average rating of "Moderate Buy" and a consensus price target of $125.95.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by corporate insiders.

Exxon Mobil Trading Down 1.0%

NYSE:XOM opened at $112.90 on Friday. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $124.26. The firm has a fifty day simple moving average of $111.30 and a 200-day simple moving average of $109.52. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $481.32 billion, a P/E ratio of 16.04, a PEG ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 earnings per share. On average, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.99 per share. The ex-dividend date was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil's payout ratio is currently 56.25%.

Exxon Mobil 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.

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