Cornercap Investment Counsel Inc buys $8.8 Million stake in Exxon Mobil Corporation (XOM)

Exxon Mobil Corporation (XOM) : Cornercap Investment Counsel Inc scooped up 6,730 additional shares in Exxon Mobil Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 99,805 shares of Exxon Mobil Corporation which is valued at $8.8 Million.Exxon Mobil Corporation makes up approximately 1.70% of Cornercap Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Midwest Investment Management added XOM to its portfolio by purchasing 4,010 company shares during the most recent quarter which is valued at $355,527. Exxon Mobil Corporation makes up approx 0.29% of Midwest Investment Management’s portfolio.Lvw Advisors reduced its stake in XOM by selling 428 shares or 0.89% in the most recent quarter. The Hedge Fund company now holds 47,611 shares of XOM which is valued at $4.2 Million. Exxon Mobil Corporation makes up approx 1.35% of Lvw Advisors’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in XOM by selling 87,247 shares or 12.39% in the most recent quarter. The Hedge Fund company now holds 616,729 shares of XOM which is valued at $54.6 Million. Exxon Mobil Corporation makes up approx 0.98% of Kornitzer Capital Management Inc Ks’s portfolio.Klingenstein Fields Co reduced its stake in XOM by selling 3,005 shares or 2.06% in the most recent quarter. The Hedge Fund company now holds 143,199 shares of XOM which is valued at $12.7 Million. Exxon Mobil Corporation makes up approx 0.62% of Klingenstein Fields Co’s portfolio. Lockheed Martin Investment Management Co sold out all of its stake in XOM during the most recent quarter. The investment firm sold 87,000 shares of XOM which is valued $7.7 Million.

Exxon Mobil Corporation closed down -0.37 points or -0.41% at $89.74 with 1,31,91,925 shares getting traded on Friday. Post opening the session at $90.39, the shares hit an intraday low of $89.38 and an intraday high of $90.4 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Exxon Mobil Corporation reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.32. The company had revenue of $48707.00 million for the quarter, compared to analysts expectations of $50135.41 million. The company’s revenue was down -28.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.17 EPS.

Many Wall Street Analysts have commented on Exxon Mobil Corporation. Exxon Mobil Corporation was Upgraded by Argus to ” Buy” on May 18, 2016. Company shares were Reiterated by UBS on May 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 85 from a previous price target of $77 .Company shares were Reiterated by Barclays on Apr 8, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .

Exxon Mobil Corporation is an energy company. The Company is engaged in the exploration and production of crude oil and natural gas. The Company is involved in the manufacturing of petroleum products and transportation and sale of crude oil natural gas and petroleum products. The Company also manufactures and markets petrochemicals including olefins aromatics polyethylene and polypropylene plastics and a variety of specialty products. The Company’s projects include the Kearl project Heidelberg project the Point Thomson project the Hadrian South project the Lucius project the Chirag Oil project the Tapis Enhanced Oil Recovery project the Damar project and the Barzan project among others. The Company is conducting its operations and projects in the United States Asia Africa Canada/South America Europe and Australia/Oceania.

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