LGT Fund Management Co Ltd. Raises Stock Position in Exxon Mobil Co. (NYSE:XOM)

LGT Fund Management Co Ltd. boosted its position in shares of Exxon Mobil Co. (NYSE:XOM) by 80.4% in the second quarter, HoldingsChannel reports. The fund owned 42,188 shares of the oil and gas company’s stock after purchasing an additional 18,808 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Exxon Mobil were worth $4,857,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. LGT Group Foundation raised its stake in Exxon Mobil by 667.3% in the second quarter. LGT Group Foundation now owns 177,304 shares of the oil and gas company’s stock valued at $20,411,000 after buying an additional 154,195 shares during the last quarter. Edgemoor Investment Advisors Inc. increased its holdings in shares of Exxon Mobil by 10.5% during the second quarter. Edgemoor Investment Advisors Inc. now owns 13,815 shares of the oil and gas company’s stock valued at $1,590,000 after acquiring an additional 1,315 shares in the last quarter. Longfellow Investment Management Co. LLC raised its position in shares of Exxon Mobil by 0.7% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 14,449 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 95 shares during the last quarter. Welch Capital Partners LLC NY acquired a new stake in Exxon Mobil in the 2nd quarter worth approximately $209,000. Finally, Tiff Advisory Services LLC purchased a new stake in Exxon Mobil during the 2nd quarter worth approximately $417,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wolfe Research started coverage on shares of Exxon Mobil in a research note on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective for the company. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Barclays cut their price objective on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. Sanford C. Bernstein decreased their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a research report on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $136.29.

Exxon Mobil Stock Down 1.0 %

XOM stock opened at $109.70 on Thursday. The firm’s fifty day moving average is $115.77 and its 200 day moving average is $114.96. The firm has a market cap of $432.55 billion, a PE ratio of 13.44, a P/E/G ratio of 4.48 and a beta of 0.90. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.10. The firm had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. Exxon Mobil’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.94 EPS. On average, research analysts forecast that Exxon Mobil Co. will post 8.37 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.46%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

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.