Conning Inc. Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Conning Inc. decreased its holdings in Exxon Mobil Co. (NYSE:XOM) by 6.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 331,453 shares of the oil and gas company’s stock after selling 23,007 shares during the period. Exxon Mobil accounts for approximately 1.4% of Conning Inc.’s investment portfolio, making the stock its 10th biggest holding. Conning Inc.’s holdings in Exxon Mobil were worth $38,101,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of XOM. FPC Investment Advisory Inc. bought a new position in Exxon Mobil in the first quarter worth approximately $25,000. First Pacific Financial bought a new stake in Exxon Mobil during the 1st quarter valued at $34,000. POM Investment Strategies LLC raised its holdings in Exxon Mobil by 918.9% during the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after buying an additional 340 shares during the last quarter. Partnership Wealth Management LLC bought a new position in shares of Exxon Mobil in the fourth quarter valued at $46,000. Finally, Lynx Investment Advisory bought a new stake in shares of Exxon Mobil during the second quarter worth about $47,000. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of NYSE:XOM traded down $1.16 during mid-day trading on Wednesday, reaching $116.52. The company had a trading volume of 10,738,934 shares, compared to its average volume of 16,963,822. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The firm has a market cap of $459.44 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 4.51 and a beta of 0.91. The company’s 50-day moving average price is $115.35 and its 200-day moving average price is $114.05. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.94 EPS. As a group, equities research analysts anticipate that Exxon Mobil Co. will post 8.65 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a yield of 3.26%. Exxon Mobil’s payout ratio is 46.57%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Sanford C. Bernstein cut their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Morgan Stanley reissued an “overweight” rating and issued a $145.00 price target on shares of Exxon Mobil in a research report on Wednesday, May 15th. Wolfe Research initiated coverage on shares of Exxon Mobil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price for the company. Finally, HSBC raised their price target on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.56.

Exxon Mobil Company Profile

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.