Fred Alger Management LLC Purchases 5,156 Shares of Exxon Mobil Co. (NYSE:XOM)

Fred Alger Management LLC increased its position in Exxon Mobil Co. (NYSE:XOM) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,577 shares of the oil and gas company’s stock after acquiring an additional 5,156 shares during the period. Fred Alger Management LLC’s holdings in Exxon Mobil were worth $12,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in XOM. Massachusetts Financial Services Co. MA lifted its holdings in shares of Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA purchased a new position in Exxon Mobil in the 2nd quarter worth about $980,210,000. International Assets Investment Management LLC lifted its stake in Exxon Mobil by 7,761.0% during the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after acquiring an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Exxon Mobil by 16.9% during 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 acquiring an additional 5,330,887 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after acquiring an additional 5,235,607 shares during the period. 61.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Bank of America assumed coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective on the stock. UBS Group lowered their price target on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on Exxon Mobil from $127.00 to $128.00 in a report on Thursday, October 31st. Finally, BNP Paribas downgraded Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target for the company. in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $117.96 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34. The firm has a fifty day moving average price of $119.76 and a 200-day moving average price of $116.57. The stock has a market cap of $518.45 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 4.94 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the firm earned $2.27 earnings per share. Equities analysts anticipate that Exxon Mobil Co. will post 7.94 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.36%. Exxon Mobil’s payout ratio is currently 49.32%.

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.