Patton Fund Management Inc. makes new investment in Exxon Mobil Co. (NYSE:XOM)



Patton Fund Management Inc. acquired a new stake in Exxon Mobil Co. (NYSE: XOMGet a rating) in Q1, according to the company in its latest SEC filing. The fund acquired 47,237 shares of the oil and gas company, valued at around $3,901,000. Exxon Mobil represents 1.1% of Patton Fund Management Inc.’s portfolio, making the stock its 22nd largest holding.

Several other large investors have also recently increased or reduced their stake in the company. State Street Corp increased its stake in Exxon Mobil shares by 0.4% in the fourth quarter. State Street Corp now owns 253,211,345 shares of the oil and gas company valued at $15,494,002,000 after acquiring an additional 1,128,974 shares last quarter. Geode Capital Management LLC increased its stake in Exxon Mobil shares by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 70,815,006 shares of the oil and gas company valued at $4,322,078,000 after acquiring 3,441,825 additional shares last quarter. Norges Bank bought a new stake in shares of Exxon Mobil in the 4th quarter at a value of $3,184,424,000. GQG Partners LLC increased its stake in Exxon Mobil shares by 21.8% in the fourth quarter. GQG Partners LLC now owns 32,397,153 shares of the oil and gas company valued at $1,982,114,000 after acquiring an additional 5,807,202 shares last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Exxon Mobil shares by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,619,880 shares of the oil and gas company valued at $1,873,632,000 after acquiring 164,733 additional shares last quarter. Institutional investors hold 54.07% of the company’s shares.

Separately, Vice Chairman Darrin L. Talley sold 2,500 shares of the company in a transaction dated Thursday, May 26. The stock was sold at an average price of $96.65, for a total value of $241,625.00. Following the sale, the vice president now directly owns 32,510 shares of the company, valued at approximately $3,142,091.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at this hyperlink. Additionally, Vice Chairman Darrin L. Talley sold 2,147 shares of the company in a trade dated Tuesday, June 7. The shares were sold at an average price of $102.81, for a total value of $220,733.07. Following the completion of the sale, the vice president now owns 30,363 shares of the company, valued at $3,121,620.03. Disclosure of this sale can be found here. Insiders own 0.04% of the shares of the company.

Several research companies have weighed in on XOM recently. Evercore ISI upgraded Exxon Mobil shares from an ‘in-line’ to an ‘outperforming’ rating and raised its price target for the company from $88.00 to $120.00 in a research note Tuesday, June 7. They noted that the move was a review call. Citigroup raised its price target on Exxon Mobil shares from $80.00 to $90.00 and gave the company a “neutral” rating in a Thursday, May 19 research report. Credit Suisse Group upgraded Exxon Mobil shares from a “neutral” rating to an “outperforming” rating and raised its price target for the company from $115.00 to $125.00 in a report of search for Tuesday, June 21. Morgan Stanley raised its price target on Exxon Mobil shares from $103.00 to $107.00 and gave the company an “overweight” rating in a Monday, June 6 research report. Finally, Barclays raised its price target on Exxon Mobil shares from $98.00 to $111.00 and gave the company an “overweight” rating in a Tuesday, May 31 research report. Two equity research analysts gave the stock a sell rating, nine gave the company a hold rating and eleven gave the company a buy rating. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.48.

NYSE XOM opened at $87.55 on Monday. The stock has a market capitalization of $368.81 billion, a price/earnings ratio of 14.52, a PEG ratio of 0.36 and a beta of 1.07. Exxon Mobil Co. has a one-year low of $52.10 and a one-year high of $105.57. The company has a debt ratio of 0.24, a current ratio of 1.07 and a quick ratio of 0.76. The company’s 50-day moving average is $91.57 and its 200-day moving average is $82.17.

Exxon Mobil (NYSE: XOMGet a rating) last released its results on Friday, April 29. The oil and gas company reported EPS of $2.07 for the quarter, missing analyst consensus estimates of $2.25 per ($0.18). The company posted revenue of $90.50 billion for the quarter, versus a consensus estimate of $83.57 billion. Exxon Mobil had a return on equity of 16.97% and a net margin of 8.14%. The company’s revenue for the quarter increased 53.0% year over year. In the same quarter of the previous year, the company made earnings per share of $0.65. Research analysts expect Exxon Mobil Co. to post EPS of 10.26 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 10. Shareholders of record on Friday, May 13 received a dividend of $0.88 per share. This represents a dividend of $3.52 on an annualized basis and a dividend yield of 4.02%. The ex-dividend date was Thursday, May 12. Exxon Mobil’s payout ratio is 58.37%.

About Exxon Mobil (Get a rating)

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and around the world. It operates through Upstream, Downstream and Chemical segments. The Company is also involved in the manufacture, trade, transportation and sale of crude oil, natural gas, petroleum products, petrochemicals and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics and various other petrochemicals; and captures and stores carbon, hydrogen and biofuels.

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Institutional ownership by quarter for Exxon Mobil (NYSE:XOM)



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