The Manufacturers Life Insurance Company lowered its position in Exxon Mobil Co. (NYSE:XOM) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,366,974 shares of the oil and gas company’s stock after selling 123,391 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of Exxon Mobil worth $275,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of XOM. Bank of New York Mellon Corp grew its stake in shares of Exxon Mobil by 9.5% during the first quarter. Bank of New York Mellon Corp now owns 54,263,728 shares of the oil and gas company’s stock valued at $3,029,544,000 after buying an additional 4,703,848 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Exxon Mobil by 803.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,300,407 shares of the oil and gas company’s stock valued at $240,091,000 after acquiring an additional 3,824,559 shares during the period. Nuveen Asset Management LLC grew its position in Exxon Mobil by 25.5% during the 1st quarter. Nuveen Asset Management LLC now owns 18,265,750 shares of the oil and gas company’s stock worth $1,019,777,000 after acquiring an additional 3,710,698 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Exxon Mobil by 23.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 17,769,207 shares of the oil and gas company’s stock worth $992,055,000 after purchasing an additional 3,380,503 shares during the period. Finally, Morgan Stanley lifted its position in Exxon Mobil by 12.8% in the first quarter. Morgan Stanley now owns 27,506,146 shares of the oil and gas company’s stock valued at $1,535,666,000 after purchasing an additional 3,114,113 shares during the last quarter. Institutional investors and hedge funds own 51.73% of the company’s stock.
Several brokerages recently commented on XOM. Credit Suisse Group decreased their target price on shares of Exxon Mobil from $73.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, August 2nd. BMO Capital Markets began coverage on shares of Exxon Mobil in a research report on Monday, July 12th. They issued a “market perform” rating and a $69.00 price objective on the stock. Piper Sandler increased their target price on shares of Exxon Mobil from $63.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, July 23rd. They noted that the move was a valuation call. DZ Bank lowered Exxon Mobil from a “buy” rating to a “hold” rating and lowered their price target for the company from $67.00 to $62.50 in a research report on Tuesday, August 3rd. Finally, HSBC cut their price objective on Exxon Mobil from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 22nd. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.94.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.08. The company had revenue of $67.74 billion for the quarter, compared to analysts’ expectations of $63.96 billion. Exxon Mobil had a negative net margin of 6.07% and a positive return on equity of 3.98%. Exxon Mobil’s revenue was up 107.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.70) EPS. On average, equities research analysts predict that Exxon Mobil Co. will post 4.55 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 13th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend was Thursday, August 12th. Exxon Mobil’s dividend payout ratio (DPR) is currently -1,054.55%.
Exxon Mobil Profile
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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