Ninety One UK Ltd reduced its position in Exxon Mobil Co. (NYSE:XOM – Free Report) by 13.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,649,981 shares of the oil and gas company’s stock after selling 696,884 shares during the period. Exxon Mobil accounts for approximately 1.6% of Ninety One UK Ltd’s portfolio, making the stock its 19th largest holding. Ninety One UK Ltd owned approximately 0.11% of Exxon Mobil worth $509,917,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new stake in shares of Exxon Mobil during the first quarter valued at about $25,000. Dark Forest Capital Management LP bought a new position in shares of Exxon Mobil in the fourth quarter worth approximately $27,000. Corrado Advisors LLC bought a new position in shares of Exxon Mobil in the fourth quarter worth approximately $28,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Exxon Mobil in the fourth quarter worth approximately $36,000. Finally, Financial Connections Group Inc. increased its position in shares of Exxon Mobil by 1,207.1% in the fourth quarter. Financial Connections Group Inc. now owns 366 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 338 shares during the last quarter. 58.59% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
XOM has been the topic of several research analyst reports. The Goldman Sachs Group cut shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research report on Monday, May 1st. Truist Financial upped their target price on Exxon Mobil from $116.00 to $118.00 in a research note on Monday, May 1st. Piper Sandler reduced their price target on shares of Exxon Mobil from $145.00 to $127.00 in a research report on Tuesday, June 13th. Morgan Stanley reduced their price target on shares of Exxon Mobil from $122.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Wolfe Research cut shares of Exxon Mobil from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of “Hold” and a consensus target price of $124.66.
Exxon Mobil Stock Performance
Exxon Mobil (NYSE:XOM – Get Free Report) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.18. The business had revenue of $86.56 billion during the quarter, compared to the consensus estimate of $90.07 billion. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. On average, equities analysts forecast that Exxon Mobil Co. will post 9.45 earnings per share for the current fiscal year.
Exxon Mobil Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, May 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.52%. Exxon Mobil’s dividend payout ratio is currently 24.64%.
Insider Activity at Exxon Mobil
In related news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $116.11, for a total transaction of $290,275.00. Following the completion of the transaction, the vice president now directly owns 29,272 shares in the company, valued at approximately $3,398,771.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.
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.
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