Cordasco Financial Network Boosts Stake in Exxon Mobil Co. (XOM)
Cordasco Financial Network increased its holdings in Exxon Mobil Co. (NYSE:XOM) by 49.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,729 shares of the oil and gas company’s stock after buying an additional 1,239 shares during the period. Cordasco Financial Network’s holdings in Exxon Mobil were worth $309,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Alley Co LLC lifted its position in Exxon Mobil by 3.0% in the 4th quarter. Alley Co LLC now owns 62,812 shares of the oil and gas company’s stock valued at $5,254,000 after purchasing an additional 1,802 shares during the last quarter. Koch Industries Inc. lifted its position in Exxon Mobil by 343.1% in the 1st quarter. Koch Industries Inc. now owns 12,496 shares of the oil and gas company’s stock valued at $932,000 after purchasing an additional 9,676 shares during the last quarter. Eaton Vance Management lifted its position in Exxon Mobil by 53.6% in the 1st quarter. Eaton Vance Management now owns 8,984,456 shares of the oil and gas company’s stock valued at $670,382,000 after purchasing an additional 3,136,452 shares during the last quarter. First Financial Bank Trust Division lifted its position in Exxon Mobil by 3.5% in the 2nd quarter. First Financial Bank Trust Division now owns 85,564 shares of the oil and gas company’s stock valued at $7,078,000 after purchasing an additional 2,883 shares during the last quarter. Finally, TLP Group LLC lifted its position in Exxon Mobil by 2,160.1% in the 1st quarter. TLP Group LLC now owns 4,249 shares of the oil and gas company’s stock valued at $317,000 after purchasing an additional 4,061 shares during the last quarter. 52.60% of the stock is owned by institutional investors and hedge funds.
NYSE XOM opened at $83.41 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.51 and a current ratio of 0.81. Exxon Mobil Co. has a 12 month low of $72.15 and a 12 month high of $89.30. The company has a market capitalization of $352.26 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 1.39 and a beta of 0.86.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Monday, August 13th were issued a $0.82 dividend. The ex-dividend date was Friday, August 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.93%. Exxon Mobil’s payout ratio is currently 91.36%.
XOM has been the topic of several recent research reports. Societe Generale set a $92.00 price objective on shares of Exxon Mobil and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Royal Bank of Canada upgraded shares of Exxon Mobil from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $72.16 to $100.00 in a research report on Wednesday, May 30th. They noted that the move was a valuation call. Jefferies Financial Group set a $87.00 price objective on shares of Exxon Mobil and gave the company a “neutral” rating in a research report on Friday, August 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $88.00 price objective on shares of Exxon Mobil in a research report on Tuesday, July 10th. Finally, HSBC reiterated a “buy” rating and issued a $96.00 price objective on shares of Exxon Mobil in a research report on Wednesday, September 12th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Exxon Mobil currently has an average rating of “Hold” and an average price target of $87.66.
Exxon Mobil Profile
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 also manufactures petroleum products; manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; and transports and sells crude oil, natural gas, and petroleum products.
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