Exxon Mobil Co. (NYSE:XOM) Shares Purchased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc boosted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 11.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 736,798 shares of the oil and gas company’s stock after buying an additional 74,419 shares during the quarter. Exxon Mobil accounts for about 1.7% of Pinnacle Financial Partners Inc’s portfolio, making the stock its 11th largest holding. Pinnacle Financial Partners Inc’s holdings in Exxon Mobil were worth $86,367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in Exxon Mobil by 6.3% in the first 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 purchasing an additional 2,676,652 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after buying an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 valued at $4,235,972,000 after acquiring an additional 5,330,887 shares in the last quarter. Legal & General Group Plc boosted its stake in 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 buying an additional 5,235,607 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of 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 worth $3,197,989,000 after acquiring an additional 5,523,429 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of several recent analyst reports. TD Cowen decreased their target price on shares of Exxon Mobil from $130.00 to $127.00 and set a “buy” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on Exxon Mobil from $127.00 to $128.00 in a research report on Thursday, October 31st. Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein decreased their price target on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Stock Performance

NYSE:XOM opened at $121.50 on Thursday. The firm has a market capitalization of $534.00 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 5.05 and a beta of 0.90. 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 business’s fifty day moving average price is $118.06 and its 200 day moving average price is $116.34. 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 results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company posted $2.27 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. On average, sell-side analysts anticipate that Exxon Mobil Co. will post 7.95 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 $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

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.