DnB Asset Management AS Trims Position in Exxon Mobil Corporation $XOM

Key Points

• DnB Asset Management AS reduced its stake in Exxon Mobil Corporation by 7.1%, holding 952,764 shares valued at approximately $113.3 million after selling 72,619 shares in the first quarter.
• Exxon Mobil reported earnings per share of $1.64 for the last quarter, surpassing analysts' estimates of $1.47, despite a 12.4% decrease in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.99 per share, which will be paid to stockholders of record, reflecting a 3.5% dividend yield.

DnB Asset Management AS trimmed its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 952,764 shares of the oil and gas company's stock after selling 72,619 shares during the period. DnB Asset Management AS's holdings in Exxon Mobil were worth $113,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC lifted its position in shares of Exxon Mobil by 10.8% in the 4th quarter. Algert Global LLC now owns 21,374 shares of the oil and gas company's stock worth $2,299,000 after purchasing an additional 2,078 shares during the period. Crestline Management LP boosted its position in Exxon Mobil by 1,429.9% during the 4th quarter. Crestline Management LP now owns 52,015 shares of the oil and gas company's stock valued at $5,595,000 after acquiring an additional 48,615 shares in the last quarter. Corton Capital Inc. purchased a new position in shares of Exxon Mobil in the 4th quarter valued at $228,000. Cornerstone Select Advisors LLC bought a new position in shares of Exxon Mobil in the 4th quarter worth $638,000. Finally, Concorde Financial Corp lifted its stake in shares of Exxon Mobil by 0.6% during the 4th quarter. Concorde Financial Corp now owns 58,303 shares of the oil and gas company's stock worth $6,272,000 after purchasing an additional 338 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Insider Activity

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 transaction of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $111.94 on Thursday. 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 business has a fifty day moving average of $110.41 and a 200 day moving average of $109.10. The firm has a market capitalization of $477.23 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57. 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 released its 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 firm had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. The company's revenue was down 12.4% compared to the same quarter last year. As a group, research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil's dividend payout ratio is presently 56.25%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on XOM. Morgan Stanley lifted their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Melius assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price for the company. TD Cowen upped their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a report on Sunday, August 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $125.00.

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.

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