Northwest Bancshares Inc. Sells 8,504 Shares of Exxon Mobil Co. (NYSE:XOM)

Northwest Bancshares Inc. trimmed its holdings in Exxon Mobil Co. (NYSE:XOM) by 11.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,456 shares of the oil and gas company’s stock after selling 8,504 shares during the quarter. Exxon Mobil makes up approximately 1.3% of Northwest Bancshares Inc.’s holdings, making the stock its 11th biggest position. Northwest Bancshares Inc.’s holdings in Exxon Mobil were worth $7,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Exxon Mobil by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after acquiring an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after acquiring an additional 4,080,716 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $4,235,972,000 after acquiring an additional 5,330,887 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after acquiring an additional 5,235,607 shares during the last quarter. Finally, Capital International Investors boosted its position in shares of Exxon Mobil by 25.1% during 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 acquiring an additional 5,523,429 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Performance

XOM stock opened at $118.60 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $118.75 and its two-hundred day simple moving average is $116.44. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The firm has a market cap of $521.26 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 5.00 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last released its 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 business had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same quarter last year, the firm posted $2.27 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. Analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be issued a $0.99 dividend. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s payout ratio is presently 49.32%.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. Morgan Stanley lowered their target price on Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. BMO Capital Markets increased their price target on Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Barclays decreased their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Mizuho increased their price target on Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target 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.