Kornitzer Capital Management Inc. KS Cuts Stake in Exxon Mobil Corporation $XOM

Kornitzer Capital Management Inc. KS trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 694,131 shares of the oil and gas company’s stock after selling 4,838 shares during the period. Exxon Mobil comprises 1.5% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 9th largest position. Kornitzer Capital Management Inc. KS’s holdings in Exxon Mobil were worth $74,827,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Eagle Capital Management LLC increased its stake in shares of Exxon Mobil by 15.3% during the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 376 shares during the period. Ironwood Wealth Management LLC. purchased a new position in Exxon Mobil during the 1st quarter valued at $200,000. Brucke Financial Inc. raised its holdings in Exxon Mobil by 2.1% in the 1st quarter. Brucke Financial Inc. now owns 6,792 shares of the oil and gas company’s stock worth $808,000 after purchasing an additional 142 shares in the last quarter. CNB Bank lifted its position in shares of Exxon Mobil by 5.7% in the 1st quarter. CNB Bank now owns 33,019 shares of the oil and gas company’s stock worth $3,927,000 after purchasing an additional 1,780 shares during the period. Finally, Total Wealth Planning & Management Inc. boosted its stake in shares of Exxon Mobil by 19.6% during the 1st quarter. Total Wealth Planning & Management Inc. now owns 14,230 shares of the oil and gas company’s stock valued at $1,692,000 after purchasing an additional 2,329 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on XOM. Piper Sandler set a $141.00 price objective on shares of Exxon Mobil in a report on Tuesday, October 7th. Melius Research began coverage on Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price for the company. Wells Fargo & Company assumed coverage on Exxon Mobil in a research note on Friday, October 17th. They issued an “overweight” rating and a $156.00 price target on the stock. Melius initiated coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Exxon Mobil in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.58.

Exxon Mobil Trading Down 0.5%

NYSE XOM opened at $115.39 on Monday. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $123.21. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock’s fifty day moving average price is $112.58 and its 200-day moving average price is $109.56. The stock has a market cap of $491.94 billion, a P/E ratio of 16.39, a P/E/G ratio of 2.05 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The company had revenue of $57.55 billion for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. As a group, equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, August 15th. Exxon Mobil’s payout ratio is presently 56.25%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the sale, the vice president directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Profile

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.