Eastern Bank lowered its stake in ExxonMobil (NYSE:XOM) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 357,659 shares of the oil and gas company’s stock after selling 1,352 shares during the period. ExxonMobil makes up approximately 2.0% of Eastern Bank’s investment portfolio, making the stock its 4th biggest position. Eastern Bank’s holdings in ExxonMobil were worth $29,915,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in ExxonMobil by 3.5% in the second quarter. Vanguard Group Inc. now owns 309,411,379 shares of the oil and gas company’s stock worth $24,978,780,000 after purchasing an additional 10,366,636 shares during the last quarter. Capital Research Global Investors lifted its stake in ExxonMobil by 7.0% in the second quarter. Capital Research Global Investors now owns 31,570,269 shares of the oil and gas company’s stock worth $2,548,668,000 after purchasing an additional 2,058,060 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in ExxonMobil by 6.1% in the third quarter. Dimensional Fund Advisors LP now owns 27,892,268 shares of the oil and gas company’s stock worth $2,286,658,000 after purchasing an additional 1,595,027 shares during the last quarter. Legal & General Group Plc lifted its stake in ExxonMobil by 1.6% in the third quarter. Legal & General Group Plc now owns 23,551,940 shares of the oil and gas company’s stock worth $1,930,784,000 after purchasing an additional 360,596 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in ExxonMobil by 6.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 22,716,523 shares of the oil and gas company’s stock worth $1,899,993,000 after purchasing an additional 1,314,210 shares during the last quarter. 53.12% of the stock is owned by institutional investors and hedge funds.
Several brokerages have issued reports on XOM. Goldman Sachs reissued a “neutral” rating and issued a $96.00 price objective on shares of ExxonMobil in a research note on Thursday, February 1st. Wells Fargo set a $88.00 price objective on shares of ExxonMobil and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Vetr raised shares of ExxonMobil from a “buy” rating to a “strong-buy” rating and set a $92.90 price objective for the company in a research note on Wednesday, December 13th. Barclays downgraded shares of ExxonMobil from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $91.00 to $84.00 in a research note on Tuesday, February 6th. Finally, Bank of America set a $100.00 price target on shares of ExxonMobil and gave the company a “buy” rating in a research note on Wednesday, March 7th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $86.55.
Shares of NYSE:XOM opened at $74.87 on Friday. The company has a market capitalization of $322,131.84, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.14 and a beta of 0.91. ExxonMobil has a 52 week low of $72.15 and a 52 week high of $89.30. The company has a quick ratio of 0.52, a current ratio of 0.82 and a debt-to-equity ratio of 0.13.
ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.18). The business had revenue of $66.52 billion during the quarter, compared to the consensus estimate of $74.41 billion. ExxonMobil had a return on equity of 8.00% and a net margin of 7.61%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. sell-side analysts predict that ExxonMobil will post 4.8 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Monday, February 12th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Friday, February 9th. ExxonMobil’s dividend payout ratio (DPR) is 85.79%.
COPYRIGHT VIOLATION WARNING: This piece of content was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/04/08/eastern-bank-has-29-92-million-position-in-exxonmobil-xom.html.
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.
Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil (NYSE:XOM).
Receive News & Ratings for ExxonMobil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ExxonMobil and related companies with MarketBeat.com's FREE daily email newsletter.