Geode Capital Management LLC Acquires 342,967 Shares of Exxon Mobil Corporation $XOM

Geode Capital Management LLC raised its stake in Exxon Mobil Corporation (NYSE:XOM) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 96,307,931 shares of the oil and gas company’s stock after buying an additional 342,967 shares during the quarter. Exxon Mobil accounts for about 0.7% of Geode Capital Management LLC’s portfolio, making the stock its 16th largest position. Geode Capital Management LLC owned approximately 2.26% of Exxon Mobil worth $10,345,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Graybill Wealth Management LTD. acquired a new position in Exxon Mobil in the first quarter valued at about $29,000. Elequin Capital LP bought a new position in Exxon Mobil in the first quarter valued at $31,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Exxon Mobil by 396.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC raised its stake in shares of Exxon Mobil by 1,500.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 300 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new position in Exxon Mobil during the second quarter worth $38,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the firm’s 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 completion of the transaction, the vice president directly owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on XOM. Melius assumed coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Exxon Mobil in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Melius Research assumed coverage on Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target for the company. Finally, Barclays reduced their target price on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.67.

Exxon Mobil Stock Up 1.2%

XOM stock opened at $119.70 on Wednesday. The firm has a 50-day moving average price of $113.63 and a 200-day moving average price of $110.45. 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 has a market capitalization of $504.78 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49.

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

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, November 14th. This represents a $4.12 annualized dividend and a yield of 3.4%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio is 59.88%.

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.