Driehaus Capital Management LLC Cuts Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Driehaus Capital Management LLC reduced its holdings in Exxon Mobil Corporation by 20.4%, selling 2,595 shares during the 1st quarter, leaving them with 10,132 shares valued at approximately $1,205,000.
• Meanwhile, other large investors like the Canada Pension Plan Investment Board increased their holdings in Exxon Mobil significantly, with a 69.8% boost to own over 5 million shares.
• Exxon Mobil recently declared a quarterly dividend of $0.99 per share, representing an annualized amount of about $3.96 and a yield of 3.5%.

Driehaus Capital Management LLC lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 20.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,132 shares of the oil and gas company's stock after selling 2,595 shares during the period. Driehaus Capital Management LLC's holdings in Exxon Mobil were worth $1,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 10Elms LLP purchased a new stake in shares of Exxon Mobil during the 4th quarter valued at about $25,000. Graybill Wealth Management LTD. purchased a new stake in Exxon Mobil in the 1st quarter worth approximately $29,000. Elequin Capital LP purchased a new stake in Exxon Mobil in the 1st quarter worth approximately $31,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 238 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in Exxon Mobil in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president directly owned 13,829 shares in the company, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.03% of the company's stock.

Exxon Mobil Price Performance

Shares of NYSE XOM traded up $0.55 during midday trading on Thursday, reaching $112.46. 12,862,646 shares of the stock traded hands, compared to its average volume of 16,618,688. The stock has a market capitalization of $479.46 billion, a PE ratio of 15.98, a P/E/G ratio of 2.13 and a beta of 0.57. The company's 50 day moving average is $110.41 and its 200 day moving average is $109.10. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

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, topping analysts' consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.Exxon Mobil's revenue was down 12.4% on a year-over-year basis. During the same period last year, the company earned $2.14 earnings per share. On average, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current 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 given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is 56.25%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on XOM shares. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Melius Research began coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective for the company. Mizuho cut their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, Piper Sandler increased their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.