Violich Capital Management Inc. Decreases Position in Exxon Mobil Co. (NYSE:XOM)

Violich Capital Management Inc. cut its stake in Exxon Mobil Co. (NYSE:XOM) by 11.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,766 shares of the oil and gas company’s stock after selling 6,028 shares during the quarter. Violich Capital Management Inc.’s holdings in Exxon Mobil were worth $1,738,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. ETRADE Capital Management LLC raised its holdings in Exxon Mobil by 8.6% in the 4th quarter. ETRADE Capital Management LLC now owns 95,345 shares of the oil and gas company’s stock valued at $6,653,000 after acquiring an additional 7,533 shares during the last quarter. Solstein Capital LLC acquired a new stake in Exxon Mobil in the 4th quarter valued at about $609,000. Renaissance Technologies LLC acquired a new stake in Exxon Mobil in the 4th quarter valued at about $190,392,000. Calton & Associates Inc. raised its holdings in Exxon Mobil by 33.2% in the 4th quarter. Calton & Associates Inc. now owns 23,171 shares of the oil and gas company’s stock valued at $1,617,000 after acquiring an additional 5,773 shares during the last quarter. Finally, Coastal Capital Group Inc. raised its holdings in Exxon Mobil by 34.6% in the 4th quarter. Coastal Capital Group Inc. now owns 15,406 shares of the oil and gas company’s stock valued at $1,075,000 after acquiring an additional 3,964 shares during the last quarter. 55.61% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have commented on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $44.00 price objective on shares of Exxon Mobil in a report on Friday. Morgan Stanley cut their price target on shares of Exxon Mobil from $73.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, March 16th. Berenberg Bank set a $63.00 price target on shares of Exxon Mobil and gave the stock a “neutral” rating in a report on Monday, February 3rd. HSBC restated a “neutral” rating and set a $48.00 price target on shares of Exxon Mobil in a report on Thursday, March 12th. Finally, Argus downgraded shares of Exxon Mobil from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $56.57.

In other Exxon Mobil news, VP Neil W. Duffin purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, March 18th. The stock was bought at an average price of $36.41 per share, with a total value of $1,092,300.00. Following the transaction, the vice president now directly owns 571,150 shares of the company’s stock, valued at approximately $20,795,571.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Darren W. Woods acquired 2,858 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $60.53 per share, with a total value of $172,994.74. Following the completion of the transaction, the chief executive officer now owns 818,032 shares in the company, valued at approximately $49,515,476.96. The disclosure for this purchase can be found here. Insiders acquired a total of 41,629 shares of company stock valued at $1,666,295 in the last three months. 0.05% of the stock is currently owned by corporate insiders.

NYSE:XOM opened at $44.88 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.49 and a current ratio of 0.78. Exxon Mobil Co. has a fifty-two week low of $30.11 and a fifty-two week high of $77.93. The stock has a market capitalization of $186.11 billion, a P/E ratio of 16.81 and a beta of 1.34. The company has a 50 day moving average price of $40.10 and a 200 day moving average price of $58.87.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.49. Exxon Mobil had a net margin of 4.42% and a return on equity of 5.08%. The company had revenue of $56.16 billion during the quarter, compared to analysts’ expectations of $58.25 billion. During the same quarter last year, the company posted $0.55 EPS. The firm’s revenue was down 11.7% compared to the same quarter last year. Research analysts forecast that Exxon Mobil Co. will post -0.97 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 13th will be given a $0.87 dividend. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $3.48 annualized dividend and a yield of 7.75%. Exxon Mobil’s dividend payout ratio is presently 154.67%.

About Exxon Mobil

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.

Further Reading: Recession

Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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