Fred Alger Management LLC Raises Stake in Exxon Mobil Co. (NYSE:XOM)

Fred Alger Management LLC grew its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,577 shares of the oil and gas company’s stock after acquiring an additional 5,156 shares during the quarter. Fred Alger Management LLC’s holdings in Exxon Mobil were worth $12,141,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in XOM. Massachusetts Financial Services Co. MA boosted its position in 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 valued at $1,935,779,000 after buying an additional 14,158,054 shares during the period. Primecap Management Co. CA bought a new stake in shares of Exxon Mobil in the 2nd quarter valued at about $980,210,000. International Assets Investment Management LLC boosted its holdings in Exxon Mobil by 7,761.0% during 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 acquiring an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP grew its position in Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after acquiring an additional 5,330,887 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Exxon Mobil by 19.3% in the 2nd 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 purchasing an additional 5,235,607 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $117.96 on Friday. The business has a fifty day simple moving average of $119.76 and a two-hundred day simple moving average of $116.57. The firm has a market capitalization of $518.45 billion, a P/E ratio of 14.69, a P/E/G ratio of 4.94 and a beta of 0.90. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data 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 net margin of 9.61% and a return on equity of 14.73%. The business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the prior year, the company earned $2.27 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, equities analysts forecast that Exxon Mobil Co. will post 7.94 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.99 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. 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 3.36%. Exxon Mobil’s payout ratio is presently 49.32%.

Analyst Ratings Changes

A number of analysts have recently weighed in on XOM shares. BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research note on Wednesday, October 9th. Wolfe Research increased their price target on shares of Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. UBS Group decreased their price objective on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Barclays dropped their target price on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Morgan Stanley reduced their price target on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.95.

Exxon Mobil 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.