Cornerstone Advisors LLC Has $31 Million Holdings in Exxon Mobil Co. (NYSE:XOM)

Cornerstone Advisors LLC boosted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 7.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,427 shares of the oil and gas company’s stock after purchasing an additional 17,600 shares during the period. Exxon Mobil accounts for approximately 1.2% of Cornerstone Advisors LLC’s holdings, making the stock its 14th largest holding. Cornerstone Advisors LLC’s holdings in Exxon Mobil were worth $30,996,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its position in shares of Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after purchasing an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA acquired a new position in Exxon Mobil during the 2nd quarter worth $980,210,000. International Assets Investment Management LLC boosted its position in Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after buying an additional 6,805,982 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after acquiring an additional 5,235,607 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $120.35 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The firm has a market cap of $528.95 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90. The stock’s 50-day moving average is $118.96 and its 200-day moving average is $116.47. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The firm had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. During the same quarter in the prior year, the firm posted $2.27 EPS. The business’s revenue was down .8% on a year-over-year basis. Equities analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.29%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is 49.32%.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research reports. Wells Fargo & Company lifted their price objective on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. UBS Group cut their price objective on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 target price on shares of Exxon Mobil in a report on Monday, November 4th. The Goldman Sachs Group increased their price target on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Finally, BMO Capital Markets lifted their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.21.

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.