United Bank Lowers stake in Exxon Mobil Corporation (XOM)

Exxon Mobil Corporation (XOM) : United Bank reduced its stake in Exxon Mobil Corporation by 8.3% during the most recent quarter end. The investment management company now holds a total of 63,968 shares of Exxon Mobil Corporation which is valued at $6,013,632 after selling 5,791 shares in Exxon Mobil Corporation , the firm said in a disclosure report filed with the SEC on Jul 22, 2016.Exxon Mobil Corporation makes up approximately 2.67% of United Bank’s portfolio.

Other Hedge Funds, Including , A. D. Beadell Investment Counsel reduced its stake in XOM by selling 3,175 shares or 28.25% in the most recent quarter. The Hedge Fund company now holds 8,062 shares of XOM which is valued at $757,909. Exxon Mobil Corporation makes up approx 0.61% of A. D. Beadell Investment Counsel’s portfolio.1st Global Advisors boosted its stake in XOM in the latest quarter, The investment management firm added 1,281 additional shares and now holds a total of 6,681 shares of Exxon Mobil Corporation which is valued at $628,081. Exxon Mobil Corporation makes up approx 0.08% of 1st Global Advisors’s portfolio.Clarkston Capital Partners reduced its stake in XOM by selling 1,873 shares or 15.22% in the most recent quarter. The Hedge Fund company now holds 10,431 shares of XOM which is valued at $980,618. Exxon Mobil Corporation makes up approx 0.05% of Clarkston Capital Partners’s portfolio.Dearborn Partners boosted its stake in XOM in the latest quarter, The investment management firm added 5,046 additional shares and now holds a total of 209,169 shares of Exxon Mobil Corporation which is valued at $19,647,244. Exxon Mobil Corporation makes up approx 1.67% of Dearborn Partners’s portfolio.Capstone Asset Management Co boosted its stake in XOM in the latest quarter, The investment management firm added 17,177 additional shares and now holds a total of 383,450 shares of Exxon Mobil Corporation which is valued at $36,381,736. Exxon Mobil Corporation makes up approx 1.07% of Capstone Asset Management Co’s portfolio.

Exxon Mobil Corporation closed down -1.25 points or -1.39% at $88.95 with 2,39,28,098 shares getting traded on Friday. Post opening the session at $87.61, the shares hit an intraday low of $86.12 and an intraday high of $89.01 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 $0.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.23 based on the information available during the earnings call on Jul 29, 2016. Analyst had a consensus of $0.64. The company had revenue of $57694.00 million for the quarter, compared to analysts expectations of $64001.29 million. The company’s revenue was down -22.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on Exxon Mobil Corporation. Exxon Mobil Corporation was Downgraded by BofA/Merrill to ” Neutral” on Jun 2, 2016. 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 .

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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