Investment Management Corp of Ontario Raises Holdings in Exxon Mobil Co. (NYSE:XOM)

Investment Management Corp of Ontario grew its stake in Exxon Mobil Co. (NYSE:XOM) by 41.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 279,054 shares of the oil and gas company’s stock after buying an additional 81,535 shares during the period. Exxon Mobil accounts for 0.7% of Investment Management Corp of Ontario’s investment portfolio, making the stock its 21st largest holding. Investment Management Corp of Ontario’s holdings in Exxon Mobil were worth $32,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of XOM. Fairway Wealth LLC bought a new position in shares of Exxon Mobil in the second quarter worth approximately $35,000. Anfield Capital Management LLC increased its position in Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 252 shares during the last quarter. Fairscale Capital LLC bought a new position in Exxon Mobil in the second quarter worth approximately $39,000. POM Investment Strategies LLC lifted its holdings in shares of Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 340 shares during the last quarter. Finally, Hershey Financial Advisers LLC acquired a new stake in Exxon Mobil during the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on XOM. Bank of America assumed coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. BMO Capital Markets boosted their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Wolfe Research boosted their target price on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Finally, Wells Fargo & Company upped their price objective on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.95.

Exxon Mobil Stock Performance

Shares of XOM opened at $118.45 on Tuesday. The company’s 50 day simple moving average is $119.76 and its 200-day simple moving average is $116.55. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $126.34. The firm has a market cap of $520.60 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 4.95 and a beta of 0.89. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

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

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.34%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is 49.32%.

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.