Cooper Financial Group Sells 5,184 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Cooper Financial Group has decreased its holdings in Exxon Mobil by 12.9%, now owning 35,106 shares valued at approximately $4.18 million after selling 5,184 shares in the first quarter.
• Despite Cooper Financial's reduction, GAMMA Investing LLC significantly increased its stake in Exxon Mobil by over 14,000%, acquiring nearly 9.5 million shares worth over $1.1 billion.
• Exxon Mobil reported quarterly earnings of $1.64 EPS, exceeding expectations, along with a recently announced dividend of $0.99 per share, representing a yield of 3.7%.

Cooper Financial Group lessened its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,106 shares of the oil and gas company's stock after selling 5,184 shares during the quarter. Cooper Financial Group's holdings in Exxon Mobil were worth $4,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in XOM. Quantinno Capital Management LP raised its stake in Exxon Mobil by 24.1% in the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after buying an additional 110,772 shares in the last quarter. Accredited Wealth Management LLC bought a new position in Exxon Mobil in the 4th quarter worth about $55,000. Journey Strategic Wealth LLC boosted its stake in shares of Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after purchasing an additional 1,379 shares in the last quarter. Legacy Trust raised its holdings in shares of Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after buying an additional 997 shares during the last quarter. Finally, Hartford Funds Management Co LLC raised its holdings in shares of Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after purchasing an additional 2,617 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Performance

Shares of XOM stock traded down $0.20 during trading hours on Thursday, reaching $107.40. 7,402,504 shares of the company's stock were exchanged, compared to its average volume of 16,736,072. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The stock has a market capitalization of $457.88 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.99 and a beta of 0.53. The business has a fifty day moving average price of $110.09 and a 200-day moving average price of $108.91. 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 (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The company had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The company's quarterly revenue was down 12.4% compared to the same quarter last year. Analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend payout ratio is presently 56.25%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho reduced their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. TD Cowen upped their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Barclays reissued a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Morgan Stanley raised their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $125.26.

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.