MAI Capital Management Cuts Position in Exxon Mobil Co. (NYSE:XOM)

MAI Capital Management decreased its holdings in Exxon Mobil Co. (NYSE:XOM - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 284,769 shares of the oil and gas company's stock after selling 6,757 shares during the period. MAI Capital Management's holdings in Exxon Mobil were worth $33,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Exxon Mobil by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company's stock valued at $5,249,607,000 after acquiring an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company's stock valued at $4,640,756,000 after acquiring an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Exxon Mobil by 16.9% during the 2nd 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 in the last quarter. Legal & General Group Plc boosted its holdings in shares of Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company's stock valued at $3,719,296,000 after acquiring an additional 5,235,607 shares in the last quarter. Finally, Capital International Investors lifted its holdings in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company's stock worth $3,197,989,000 after buying an additional 5,523,429 shares during the period. Institutional investors own 61.80% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Redburn Atlantic reaffirmed a "neutral" rating and set a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Barclays cut their target price on Exxon Mobil from $142.00 to $137.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their target price on Exxon Mobil from $127.00 to $128.00 in a report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. Finally, Bank of America began coverage on Exxon Mobil in a research note on Thursday, October 17th. They issued a "neutral" rating and a $124.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Exxon Mobil has an average rating of "Moderate Buy" and an average target price of $129.95.

Exxon Mobil Stock Up 0.9 %

XOM traded up $1.02 during midday trading on Monday, reaching $120.33. 14,239,715 shares of the company were exchanged, compared to its average volume of 16,326,158. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The company's fifty day moving average price is $118.59 and its 200 day moving average price is $116.42. The company has a market cap of $528.86 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 5.00 and a beta of 0.90. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.01. The firm had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.27 EPS. As a group, analysts expect that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date is Thursday, November 14th. This is an increase from Exxon Mobil's previous quarterly dividend of $0.95. Exxon Mobil's payout ratio is presently 49.32%.

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.