The Manufacturers Life Insurance Company Grows Position in Exxon Mobil Co. (NYSE:XOM)

The Manufacturers Life Insurance Company increased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 18.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,792,336 shares of the oil and gas company’s stock after acquiring an additional 593,729 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Exxon Mobil were worth $436,574,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of XOM. FPC Investment Advisory Inc. acquired a new stake in shares of Exxon Mobil in the first quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new position in shares of Exxon Mobil during the 2nd quarter worth $35,000. Anfield Capital Management LLC boosted its position in shares of Exxon Mobil by 360.0% during the 2nd 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 acquired a new stake in Exxon Mobil during the second quarter worth about $39,000. Finally, POM Investment Strategies LLC raised its stake in 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 worth $43,000 after purchasing an additional 340 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Mizuho increased their price target on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Wolfe Research assumed coverage on Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a research report on Tuesday, July 9th. Sanford C. Bernstein lowered their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, Barclays cut their target price on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.82.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $112.80 on Friday. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market cap of $444.77 billion, a P/E ratio of 13.82, a PEG ratio of 4.86 and a beta of 0.90. The firm has a fifty day moving average price of $115.77 and a 200 day moving average price of $115.57.

Exxon Mobil (NYSE:XOM) last issued its 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. The business had revenue of $93.06 billion for 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%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.94 EPS. Sell-side analysts predict that Exxon Mobil Co. will post 8.06 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

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.