Raymond James & Associates Buys 638,822 Shares of Exxon Mobil Co. (NYSE:XOM)

Raymond James & Associates boosted its stake in Exxon Mobil Co. (NYSE:XOM) by 15.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,815,002 shares of the oil and gas company’s stock after purchasing an additional 638,822 shares during the quarter. Raymond James & Associates owned about 0.12% of Exxon Mobil worth $564,415,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in Exxon Mobil by 532.8% during the 2nd 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. Global Assets Advisory LLC boosted its position in shares of Exxon Mobil by 16,399.4% during the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after buying an additional 12,540,435 shares during the period. Primecap Management Co. CA bought a new position in shares of Exxon Mobil during the second quarter worth about $980,210,000. Capital International Investors raised its position in Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in 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 acquiring an additional 5,330,887 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $120.01 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $473.20 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The company has a 50-day simple moving average of $117.39 and a two-hundred day simple moving average of $116.49.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The business had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the previous year, the company posted $1.94 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts forecast that Exxon Mobil Co. will post 8.11 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.17%. Exxon Mobil’s dividend payout ratio is 46.57%.

Analysts Set New Price Targets

Several research analysts recently commented on XOM shares. Redburn Atlantic restated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $129.00 to $145.00 in a report on Thursday, October 10th. Morgan Stanley dropped their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Mizuho raised their price target on Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Finally, Barclays dropped their price objective on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.44.

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.