Corebridge Financial Inc. Has $115.47 Million Position in Exxon Mobil Corporation $XOM

Key Points

• Corebridge Financial Inc. reduced its stake in Exxon Mobil by 3.9% during Q1, holding 970,871 shares valued at approximately $115.47 million, which represents 0.7% of its portfolio.
• Wall Street analysts have varying opinions on Exxon Mobil, with a consensus rating of "Hold" and a price target averaging $125.00, despite some analysts issuing Buy ratings.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, which will be paid on September 10th, yielding 3.6% based on its current stock price.

Corebridge Financial Inc. lowered its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 970,871 shares of the oil and gas company's stock after selling 39,259 shares during the period. Exxon Mobil accounts for 0.7% of Corebridge Financial Inc.'s portfolio, making the stock its 18th largest holding. Corebridge Financial Inc.'s holdings in Exxon Mobil were worth $115,466,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in XOM. 10Elms LLP acquired a new position in Exxon Mobil in the fourth quarter worth approximately $25,000. Graybill Wealth Management LTD. acquired a new position in Exxon Mobil during the first quarter valued at approximately $29,000. Elequin Capital LP acquired a new position in Exxon Mobil during the first quarter valued at approximately $31,000. Capital A Wealth Management LLC acquired a new position in Exxon Mobil during the fourth quarter valued at approximately $32,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 238 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on XOM shares. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the company an "overweight" rating in a report on Thursday, June 26th. Piper Sandler increased their price target on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a report on Sunday. UBS Group increased their price target on Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, TD Cowen increased their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $125.00.

Exxon Mobil Trading Up 1.7%

Shares of Exxon Mobil stock opened at $111.1220 on Monday. The company's fifty day simple moving average is $110.24 and its 200-day simple moving average is $108.88. The company has a market cap of $473.74 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 2.08 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.88 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.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Exxon Mobil's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company posted $2.14 earnings per share. As a group, sell-side analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

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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