DAVENPORT & Co LLC Has $111.99 Million Position in Exxon Mobil Corporation $XOM

DAVENPORT & Co LLC boosted its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 112.5% during the third quarter, HoldingsChannel.com reports. The firm owned 991,239 shares of the oil and gas company’s stock after acquiring an additional 524,859 shares during the period. DAVENPORT & Co LLC’s holdings in Exxon Mobil were worth $111,989,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XOM. Vanguard Group Inc. increased its stake in shares of Exxon Mobil by 0.3% in the second quarter. Vanguard Group Inc. now owns 431,058,875 shares of the oil and gas company’s stock worth $46,468,147,000 after acquiring an additional 1,111,231 shares during the last quarter. Geode Capital Management LLC grew its stake in Exxon Mobil by 0.4% in the second quarter. Geode Capital Management LLC now owns 96,307,931 shares of the oil and gas company’s stock valued at $10,345,132,000 after purchasing an additional 342,967 shares in the last quarter. Norges Bank acquired a new position in Exxon Mobil in the 2nd quarter worth about $6,163,719,000. Bank of New York Mellon Corp raised its stake in shares of Exxon Mobil by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock worth $5,023,298,000 after purchasing an additional 1,274,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Exxon Mobil by 3.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 33,500,304 shares of the oil and gas company’s stock valued at $3,611,553,000 after buying an additional 1,126,912 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on XOM. Bank of America dropped their price objective on Exxon Mobil from $119.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday, December 11th. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Morgan Stanley lifted their price objective on shares of Exxon Mobil from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Wednesday, December 10th. Citigroup increased their target price on shares of Exxon Mobil from $115.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Finally, BNP Paribas Exane upgraded Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $114.00 target price on the stock in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus price target of $129.45.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $117.19, for a total transaction of $351,570.00. Following the completion of the transaction, the vice president directly owned 28,584 shares in the company, valued at $3,349,758.96. The trade was a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Stock Performance

Shares of XOM opened at $119.09 on Friday. The company has a market capitalization of $502.20 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 7.49 and a beta of 0.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.14 and a quick ratio of 0.79. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $120.81. The company’s fifty day moving average price is $116.65 and its 200 day moving average price is $113.18.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%.The company had revenue of $57.55 billion for the quarter. As a group, analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $4.12 annualized dividend and a yield of 3.5%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is presently 59.88%.

Exxon Mobil Company Profile

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.