Flippin Bruce & Porter Inc. Sells 3,895 Shares of Exxon Mobil Co. (NYSE:XOM)

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Flippin Bruce & Porter Inc. decreased its position in Exxon Mobil Co. (NYSE:XOM) by 2.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 145,553 shares of the oil and gas company’s stock after selling 3,895 shares during the quarter. Exxon Mobil comprises about 1.8% of Flippin Bruce & Porter Inc.’s portfolio, making the stock its 21st largest holding. Flippin Bruce & Porter Inc.’s holdings in Exxon Mobil were worth $10,278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XOM. Nuveen Asset Management LLC lifted its stake in Exxon Mobil by 5,514.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 22,672,032 shares of the oil and gas company’s stock valued at $1,737,358,000 after acquiring an additional 22,268,191 shares in the last quarter. Vanguard Group Inc. lifted its stake in Exxon Mobil by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 347,643,903 shares of the oil and gas company’s stock valued at $26,639,953,000 after acquiring an additional 2,953,857 shares in the last quarter. California Public Employees Retirement System lifted its stake in Exxon Mobil by 22.2% in the 3rd quarter. California Public Employees Retirement System now owns 10,458,189 shares of the oil and gas company’s stock valued at $738,453,000 after acquiring an additional 1,902,091 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in Exxon Mobil by 7,471.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,771,803 shares of the oil and gas company’s stock valued at $177,180,000 after acquiring an additional 1,748,402 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Exxon Mobil by 0.4% in the 2nd quarter. BlackRock Inc. now owns 280,882,107 shares of the oil and gas company’s stock valued at $21,523,998,000 after acquiring an additional 1,069,038 shares in the last quarter. Hedge funds and other institutional investors own 54.39% of the company’s stock.

XOM traded down $1.37 during trading hours on Friday, reaching $70.77. The company’s stock had a trading volume of 11,673,915 shares, compared to its average volume of 11,457,568. Exxon Mobil Co. has a 52 week low of $64.65 and a 52 week high of $83.49. The company’s 50-day moving average is $69.60 and its 200-day moving average is $72.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.47 and a current ratio of 0.74. The firm has a market cap of $309.25 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.79 and a beta of 0.97.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. Exxon Mobil had a return on equity of 7.44% and a net margin of 5.43%. The business had revenue of $65.05 billion for the quarter, compared to analysts’ expectations of $65.86 billion. During the same quarter in the prior year, the business earned $0.82 EPS. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. Equities analysts anticipate that Exxon Mobil Co. will post 2.61 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Friday, November 8th. Exxon Mobil’s dividend payout ratio (DPR) is presently 70.59%.

Several research firms have commented on XOM. Credit Suisse Group set a $74.00 target price on Exxon Mobil and gave the company a “neutral” rating in a research note on Friday, August 2nd. Bank of America reiterated a “buy” rating and set a $100.00 price objective on shares of Exxon Mobil in a research note on Friday, September 27th. Zacks Investment Research cut Exxon Mobil from a “hold” rating to a “strong sell” rating and set a $79.00 price objective on the stock. in a research note on Monday, July 22nd. Independent Research set a $74.00 price objective on Exxon Mobil and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reiterated a “neutral” rating and set a $75.00 price objective on shares of Exxon Mobil in a research note on Friday, November 1st. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $78.91.

Exxon Mobil Company Profile

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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