Cypress Capital Group Sells 3,075 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Cypress Capital Group has reduced its holdings in Exxon Mobil by 2.2%, now owning 135,042 shares valued at approximately $16 million, making it the fund's 9th largest holding.
• Exxon Mobil reported earnings of $1.64 EPS, exceeding estimates, but saw a 12.4% decline in revenue year-over-year to $81.51 billion.
• The company declared a quarterly dividend of $0.99 per share, representing an annualized dividend yield of 3.7% and a payout ratio of 56.25%.

Cypress Capital Group reduced its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 135,042 shares of the oil and gas company's stock after selling 3,075 shares during the period. Exxon Mobil makes up about 2.1% of Cypress Capital Group's portfolio, making the stock its 9th biggest holding. Cypress Capital Group's holdings in Exxon Mobil were worth $16,061,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. 10Elms LLP acquired a new position in Exxon Mobil in the 4th quarter valued at $25,000. Graybill Wealth Management LTD. bought a new position in shares of Exxon Mobil in the first quarter worth $29,000. Capital A Wealth Management LLC bought a new position in shares of Exxon Mobil in the fourth quarter worth $32,000. Cloud Capital Management LLC acquired a new position in Exxon Mobil in the first quarter valued at about $45,000. Finally, Clarity Asset Management Inc. lifted its position in Exxon Mobil by 29.7% during the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock worth $47,000 after purchasing an additional 100 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on XOM. Morgan Stanley raised their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, August 4th. UBS Group decreased their price objective on shares of Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Mizuho reduced their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $125.26.

Exxon Mobil Trading Up 0.3%

Shares of Exxon Mobil stock traded up $0.27 on Tuesday, hitting $106.10. The stock had a trading volume of 14,104,424 shares, compared to its average volume of 15,610,114. The stock has a 50 day moving average of $109.99 and a 200 day moving average of $108.92. The firm has a market capitalization of $452.33 billion, a P/E ratio of 15.07, a PEG ratio of 1.99 and a beta of 0.53. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25.

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 for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same period in the previous year, the firm posted $2.14 EPS. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th. Exxon Mobil's payout ratio is 56.25%.

Exxon Mobil 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.