Bridgeway Capital Management LLC Sells 12,828 Shares of Exxon Mobil Corporation $XOM

Key Points

• Bridgeway Capital Management LLC reduced its stake in Exxon Mobil Corporation by 7.4%, selling 12,828 shares and retaining a total of 160,751 shares valued at approximately $19.1 million.
• Several other hedge funds have significantly increased their positions in Exxon Mobil, including GQG Partners and GAMMA Investing, demonstrating strong institutional interest in the company.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, reflecting a 3.5% dividend yield, signaling ongoing financial health despite a decline in quarterly revenue.

Bridgeway Capital Management LLC decreased its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 7.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 160,751 shares of the oil and gas company's stock after selling 12,828 shares during the quarter. Bridgeway Capital Management LLC's holdings in Exxon Mobil were worth $19,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of XOM. Bank of New York Mellon Corp grew its holdings in shares of Exxon Mobil by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after purchasing an additional 1,340,343 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock worth $3,850,167,000 after acquiring an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock valued at $3,213,848,000 after buying an additional 2,639,797 shares during the last quarter. Amundi raised its position in Exxon Mobil by 9.7% in the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock worth $2,966,598,000 after purchasing an additional 2,329,964 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Exxon Mobil by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock valued at $3,028,968,000 after purchasing an additional 909,386 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.03% of the company's stock.

Exxon Mobil Trading Down 2.8%

XOM traded down $3.17 during midday trading on Friday, hitting $109.23. 16,823,996 shares of the company were exchanged, compared to its average volume of 14,092,043. The firm's 50 day moving average price is $110.46 and its 200-day moving average price is $109.13. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The firm has a market capitalization of $465.66 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.10 and a beta of 0.57.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly 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. The firm had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company's revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.14 earnings per share. As a group, equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's payout ratio is currently 56.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on XOM. UBS Group upped their price target on Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Melius began coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target for the company. Melius Research started coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective on the stock. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Finally, Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Exxon Mobil has a consensus rating of "Hold" and a consensus target price of $125.00.

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.