Norris Perne & French LLP MI Cuts Stock Position in Exxon Mobil Co. (NYSE:XOM)

Norris Perne & French LLP MI cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 15.7% in the third quarter, Holdings Channel reports. The institutional investor owned 5,241 shares of the oil and gas company’s stock after selling 979 shares during the quarter. Norris Perne & French LLP MI’s holdings in Exxon Mobil were worth $614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its position 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 worth $1,935,779,000 after purchasing an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA purchased a new stake in shares of Exxon Mobil during the second quarter worth approximately $980,210,000. International Assets Investment Management LLC increased its position in shares of Exxon Mobil by 7,761.0% during the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after purchasing an additional 6,805,982 shares in the last quarter. Capital International Investors increased its position in shares of Exxon Mobil by 25.1% during the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $114.98 on Friday. The stock’s 50-day moving average is $117.67 and its two-hundred day moving average is $116.36. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 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 company has a market cap of $453.35 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 4.83 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter in the prior year, the business earned $1.94 EPS. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. Analysts forecast that Exxon Mobil Co. will post 8.05 EPS for the current fiscal year.

Analysts Set New Price Targets

XOM has been the subject of several research reports. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Wolfe Research boosted their price objective on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday. BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research note on Wednesday, October 9th. Barclays lowered their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Bank of America started coverage on Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.37.

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.