Cornerstone Advisors LLC Increases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Cornerstone Advisors LLC increased its holdings in Exxon Mobil Co. (NYSE:XOM) by 15.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,827 shares of the oil and gas company’s stock after acquiring an additional 32,327 shares during the quarter. Exxon Mobil makes up about 1.2% of Cornerstone Advisors LLC’s holdings, making the stock its 15th biggest position. Cornerstone Advisors LLC’s holdings in Exxon Mobil were worth $28,415,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Exxon Mobil in the first quarter valued at about $25,000. Anfield Capital Management LLC raised its stake in 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. POM Investment Strategies LLC lifted its position in 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 worth $43,000 after acquiring an additional 340 shares during the period. Lynx Investment Advisory acquired a new position in shares of Exxon Mobil in the second quarter valued at approximately $47,000. Finally, Vima LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth $50,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Sanford C. Bernstein dropped their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Morgan Stanley dropped their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday. Wells Fargo & Company reduced their price target on Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Wolfe Research started coverage on Exxon Mobil in a report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a research report on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.24.

Exxon Mobil Stock Up 1.3 %

XOM stock opened at $114.22 on Wednesday. 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 12 month low of $95.77 and a 12 month high of $123.75. The firm has a market capitalization of $450.37 billion, a PE ratio of 14.00, a P/E/G ratio of 4.38 and a beta of 0.90. The company’s 50 day simple moving average is $115.73 and its 200-day simple moving average is $115.25.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. Exxon Mobil’s quarterly revenue was up 12.2% on a year-over-year basis. Equities analysts expect that Exxon Mobil Co. will post 8.36 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio 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.