Tortoise Investment Management Lowers stake in Exxon Mobil Corporation (XOM)

Exxon Mobil Corporation (XOM) : Tortoise Investment Management reduced its stake in Exxon Mobil Corporation by 35.74% during the most recent quarter end. The investment management company now holds a total of 3,645 shares of Exxon Mobil Corporation which is valued at $318,901 after selling 2,027 shares in Exxon Mobil Corporation , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Exxon Mobil Corporation makes up approximately 0.11% of Tortoise Investment Management’s portfolio.

Other Hedge Funds, Including , Matrix Asset Advisors Incny boosted its stake in XOM in the latest quarter, The investment management firm added 296 additional shares and now holds a total of 58,784 shares of Exxon Mobil Corporation which is valued at $5,143,012. Exxon Mobil Corporation makes up approx 0.96% of Matrix Asset Advisors Incny’s portfolio.Old Dominion Capital Management Inc reduced its stake in XOM by selling 383 shares or 10.37% in the most recent quarter. The Hedge Fund company now holds 3,312 shares of XOM which is valued at $289,767. Exxon Mobil Corporation makes up approx 0.34% of Old Dominion Capital Management Inc’s portfolio.Advisory Services Network boosted its stake in XOM in the latest quarter, The investment management firm added 15,026 additional shares and now holds a total of 118,229 shares of Exxon Mobil Corporation which is valued at $10,748,198. Exxon Mobil Corporation makes up approx 2.38% of Advisory Services Network’s portfolio.Highland Capital Management reduced its stake in XOM by selling 3,648 shares or 1.27% in the most recent quarter. The Hedge Fund company now holds 284,725 shares of XOM which is valued at $26,744,219. Exxon Mobil Corporation makes up approx 2.23% of Highland Capital Management’s portfolio.First National Bank Of Mount Dora Trust Investment Services reduced its stake in XOM by selling 80 shares or 0.22% in the most recent quarter. The Hedge Fund company now holds 36,735 shares of XOM which is valued at $3,450,519. Exxon Mobil Corporation makes up approx 1.91% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.

Exxon Mobil Corporation opened for trading at $88.05 and hit $88.89 on the upside on Monday, eventually ending the session at $88.59, with a gain of 1.18% or 1.03 points. The heightened volatility saw the trading volume jump to 1,04,92,709 shares. Company has a market cap of $367,352 M.

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.

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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