State of Michigan Retirement System Has $141.43 Million Stake in Exxon Mobil Co. (NYSE:XOM)

State of Michigan Retirement System raised its stake in Exxon Mobil Co. (NYSE:XOM) by 12.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,228,518 shares of the oil and gas company’s stock after buying an additional 140,444 shares during the quarter. Exxon Mobil comprises 0.7% of State of Michigan Retirement System’s investment portfolio, making the stock its 23rd largest position. State of Michigan Retirement System’s holdings in Exxon Mobil were worth $141,427,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the stock. FPC Investment Advisory Inc. bought a new position in Exxon Mobil during the 1st quarter valued at $25,000. First Pacific Financial purchased a new stake in shares of Exxon Mobil in the first quarter valued at about $34,000. POM Investment Strategies LLC lifted its position in shares of Exxon Mobil by 918.9% during the second 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 in the last quarter. Partnership Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter worth about $46,000. Finally, Lynx Investment Advisory bought a new stake in Exxon Mobil in the 2nd quarter worth about $47,000. Institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of a number of research analyst reports. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Morgan Stanley reiterated an “overweight” rating and set a $145.00 target price on shares of Exxon Mobil in a research note on Wednesday, May 15th. UBS Group raised their price objective on shares of Exxon Mobil from $156.00 to $157.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Mizuho increased their target price on shares of Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, HSBC lifted their price target on shares of Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $134.56.

Exxon Mobil Stock Performance

NYSE XOM opened at $118.83 on Tuesday. The company’s 50 day simple moving average is $115.35 and its two-hundred day simple moving average is $114.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The stock has a market capitalization of $468.55 billion, a PE ratio of 14.56, a P/E/G ratio of 4.51 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same quarter last year, the company earned $1.94 earnings per share. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. Analysts predict that Exxon Mobil Co. will post 8.65 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

About Exxon Mobil

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.