Hartford Investment Management Co. Reduces Position in Exxon Mobil Co. (NYSE:XOM)

Hartford Investment Management Co. decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 279,479 shares of the oil and gas company’s stock after selling 7,757 shares during the quarter. Exxon Mobil accounts for approximately 1.1% of Hartford Investment Management Co.’s holdings, making the stock its 14th biggest position. Hartford Investment Management Co.’s holdings in Exxon Mobil were worth $32,761,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of XOM. Massachusetts Financial Services Co. MA raised its stake in Exxon Mobil by 532.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after buying an additional 14,158,054 shares during the last quarter. Primecap Management Co. CA bought a new stake in shares of Exxon Mobil in the second quarter worth $980,210,000. Capital International Investors increased its position in Exxon Mobil by 25.1% during the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after acquiring an additional 5,523,429 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after acquiring an additional 5,330,887 shares during the period. Finally, Legal & General Group Plc boosted its position in Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 0.4 %

Exxon Mobil stock opened at $120.27 on Thursday. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34. The firm’s 50 day moving average price is $117.49 and its 200-day moving average price is $116.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The stock has a market cap of $474.23 billion, a P/E ratio of 14.74, a PEG ratio of 5.02 and a beta of 0.89.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same period in the previous year, the firm posted $1.94 EPS. Exxon Mobil’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities analysts predict that Exxon Mobil Co. will post 8.11 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s payout ratio is presently 46.57%.

Wall Street Analysts Forecast Growth

XOM has been the subject of several research reports. Morgan Stanley reduced their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Redburn Atlantic reiterated a “neutral” rating and issued a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Bank of America started coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective for the company. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price on the stock. in a report on Wednesday, October 9th. Finally, Mizuho boosted their price target on Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.44.

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.