Exxon Mobil Corporation $XOM Position Lessened by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. decreased its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 13.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,499,822 shares of the oil and gas company’s stock after selling 555,343 shares during the period. Exxon Mobil accounts for approximately 0.6% of Adage Capital Partners GP L.L.C.’s portfolio, making the stock its 23rd biggest position. Adage Capital Partners GP L.L.C. owned about 0.08% of Exxon Mobil worth $377,281,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Exxon Mobil by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 431,058,875 shares of the oil and gas company’s stock valued at $46,468,147,000 after buying an additional 1,111,231 shares in the last quarter. Geode Capital Management LLC lifted its stake in Exxon Mobil by 0.4% in the second quarter. Geode Capital Management LLC now owns 96,307,931 shares of the oil and gas company’s stock valued at $10,345,132,000 after acquiring an additional 342,967 shares during the last quarter. Norges Bank bought a new stake in Exxon Mobil in the second quarter worth approximately $6,163,719,000. Bank of New York Mellon Corp increased its stake in shares of Exxon Mobil by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock worth $5,023,298,000 after purchasing an additional 1,274,860 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Exxon Mobil by 3.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 33,500,304 shares of the oil and gas company’s stock worth $3,611,553,000 after purchasing an additional 1,126,912 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

XOM has been the subject of several analyst reports. Melius Research assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price objective for the company. UBS Group reaffirmed a “buy” rating on shares of Exxon Mobil in a research report on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Exxon Mobil in a report on Monday. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, BNP Paribas raised Exxon Mobil from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.24.

Exxon Mobil Price Performance

NYSE:XOM opened at $118.77 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.14 and a quick ratio of 0.79. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $120.81. The company has a fifty day moving average price of $115.60 and a 200 day moving average price of $112.16. The stock has a market cap of $500.88 billion, a P/E ratio of 17.26, a PEG ratio of 1.50 and a beta of 0.38.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The company had revenue of $57.55 billion for the quarter. Exxon Mobil had a net margin of 8.99% and a return on equity of 11.22%. Analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were issued a $1.03 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Friday, November 14th. This represents a $4.12 annualized dividend and a yield of 3.5%. Exxon Mobil’s payout ratio is currently 59.88%.

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.