Griffin Asset Management Inc. Has $9.54 Million Stake in Exxon Mobil Co. (NYSE:XOM)

Griffin Asset Management Inc. cut its holdings in Exxon Mobil Co. (NYSE:XOM - Free Report) by 6.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 81,389 shares of the oil and gas company's stock after selling 5,746 shares during the period. Griffin Asset Management Inc.'s holdings in Exxon Mobil were worth $9,540,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its stake in Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company's stock worth $1,935,779,000 after buying an additional 14,158,054 shares in the last quarter. Global Assets Advisory LLC grew its stake in Exxon Mobil by 16,399.4% during the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company's stock worth $1,466,589,000 after buying an additional 12,540,435 shares in the last quarter. Primecap Management Co. CA acquired a new stake in Exxon Mobil during the second quarter worth about $980,210,000. Capital International Investors grew its stake 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 worth $3,197,989,000 after buying an additional 5,523,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company's stock worth $4,235,972,000 after buying an additional 5,330,887 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Scotiabank upgraded shares of Exxon Mobil from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. Barclays dropped their target price on shares of Exxon Mobil from $142.00 to $137.00 and set an "overweight" rating for the company in a report on Thursday, October 3rd. BNP Paribas cut shares of Exxon Mobil from a "neutral" rating to an "underperform" rating and set a $105.00 target price for the company. in a report on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Finally, BMO Capital Markets increased their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a "market perform" rating in a report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.88.

Exxon Mobil Trading Up 0.3 %

Exxon Mobil stock traded up $0.31 during mid-day trading on Wednesday, hitting $120.66. 8,422,883 shares of the stock were exchanged, compared to its average volume of 16,656,721. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The firm's fifty day simple moving average is $117.22 and its two-hundred day simple moving average is $116.43. The stock has a market capitalization of $475.76 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 5.02 and a beta of 0.89.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same quarter last year, the business earned $1.94 EPS. The company's revenue was up 12.2% compared to the same quarter last year. Analysts forecast that Exxon Mobil Co. will post 8.11 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed 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. This represents a $3.80 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil's dividend payout ratio (DPR) 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.