PNC Financial Services Group Inc. Has $1.26 Billion Holdings in Exxon Mobil Co. (NYSE:XOM)

PNC Financial Services Group Inc. decreased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 1.3% in the third quarter, Holdings Channel reports. The fund owned 10,782,008 shares of the oil and gas company’s stock after selling 145,321 shares during the period. Exxon Mobil accounts for 0.8% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 17th biggest holding. PNC Financial Services Group Inc.’s holdings in Exxon Mobil were worth $1,263,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in shares of Exxon Mobil during the second quarter worth approximately $35,000. Anfield Capital Management LLC raised its stake in Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Fairscale Capital LLC bought a new stake in Exxon Mobil in the 2nd quarter valued at $39,000. POM Investment Strategies LLC grew its position in Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares during the last quarter. Finally, Hershey Financial Advisers LLC bought a new position in shares of Exxon Mobil during the 2nd quarter worth about $46,000. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Performance

XOM stock opened at $120.33 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The stock has a market capitalization of $528.86 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 5.00 and a beta of 0.90. The company has a 50 day moving average price of $118.59 and a 200 day moving average price of $116.42.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS 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 firm had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. During the same quarter in the previous year, the business earned $2.27 EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. Analysts forecast that Exxon Mobil Co. will post 7.95 EPS 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 given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on XOM shares. Wells Fargo & Company lifted their target price on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price on the stock. in a research report on Wednesday, October 9th. BMO Capital Markets increased their price target on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Barclays decreased their price objective 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 raised their target price on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.