Cairn Investment Group Inc. Sells 5,482 Shares of Exxon Mobil Corporation $XOM

Key Points

• Cairn Investment Group Inc. reduced its holdings in Exxon Mobil Corporation by 53.4%, selling 5,482 shares during the second quarter, leaving them with 4,784 shares valued at approximately $516,000.
• Exxon Mobil reported a EPS of $1.64 for the last quarter, exceeding analysts' estimates by $0.17, with total revenue of $81.51 billion, down 12.4% year-over-year.
• The company announced a quarterly dividend of $0.99, translating to an annualized yield of 3.5%, with a dividend payout ratio of 56.25%.

Cairn Investment Group Inc. reduced its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 53.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,784 shares of the oil and gas company's stock after selling 5,482 shares during the quarter. Cairn Investment Group Inc.'s holdings in Exxon Mobil were worth $516,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in XOM. Nuveen LLC purchased a new stake in Exxon Mobil during the first quarter valued at $2,730,414,000. GQG Partners LLC raised its holdings in shares of Exxon Mobil by 15,135.7% in the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock worth $1,197,753,000 after buying an additional 10,004,975 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Exxon Mobil in the second quarter worth approximately $607,621,000. Ameriprise Financial Inc. increased its holdings in Exxon Mobil by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Exxon Mobil by 72.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,549,909 shares of the oil and gas company's stock valued at $598,280,000 after acquiring an additional 2,332,293 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Price Performance

XOM opened at $112.78 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The company has a 50-day moving average of $111.04 and a 200-day moving average of $109.57. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The company has a market capitalization of $480.81 billion, a P/E ratio of 16.02, a PEG ratio of 2.08 and a beta of 0.57.

Exxon Mobil (NYSE:XOM - Get Free Report) 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 analysts' consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Exxon Mobil's revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.14 EPS. Equities analysts expect 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 was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil's dividend payout ratio is currently 56.25%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the 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 owned 13,829 shares in the company, valued at $1,527,413.05. This represents a 13.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler raised their price objective on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Melius Research began coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective on the stock. UBS Group upped their price objective on Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Mizuho decreased their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a research note on Monday, September 15th. Finally, Morgan Stanley increased their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of "Hold" and a consensus price target 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.

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