Louisiana State Employees Retirement System Cuts Stock Holdings in Exxon Mobil Corporation $XOM

Louisiana State Employees Retirement System lowered its position in Exxon Mobil Corporation (NYSE:XOM) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 227,400 shares of the oil and gas company’s stock after selling 6,700 shares during the period. Exxon Mobil makes up about 0.4% of Louisiana State Employees Retirement System’s portfolio, making the stock its 23rd largest position. Louisiana State Employees Retirement System’s holdings in Exxon Mobil were worth $24,514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Graybill Wealth Management LTD. acquired a new stake in Exxon Mobil in the 1st quarter worth approximately $29,000. Elequin Capital LP acquired a new stake in Exxon Mobil in the 1st quarter worth approximately $31,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC boosted its stake in Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 300 shares in the last quarter. Finally, 1248 Management LLC acquired a new stake in Exxon Mobil in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on XOM. Piper Sandler set a $141.00 target price on shares of Exxon Mobil in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a research note on Wednesday. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an “overweight” rating in a research note on Thursday, June 26th. Barclays decreased their price objective on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Bank of America lifted their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.95.

Exxon Mobil Stock Performance

XOM opened at $112.90 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The firm has a fifty day moving average price of $111.30 and a 200 day moving average price of $109.52. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $124.26. The stock has a market cap of $481.32 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $81.51 billion during the quarter, compared to analysts’ expectations of $79.07 billion. During the same period in the previous year, the business posted $2.14 EPS. The business’s revenue was down 12.4% compared to the same quarter last year. Equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s payout ratio is presently 56.25%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.03% of the company’s stock.

Exxon Mobil Company Profile

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.