Exxon Mobil Corporation (NYSE:XOM) Position Reduced by AGF Management Ltd.

Key Points

• AGF Management Ltd. has reduced its stake in Exxon Mobil by 8.7% in the first quarter, now holding 301,336 shares valued at approximately $35.8 million.
• Despite a year-over-year revenue decrease of 12.4%, Exxon Mobil reported better-than-expected earnings of $1.64 per share compared to the consensus estimate of $1.47.
• The company declared a quarterly dividend of $0.99, translating to an annualized rate of $3.96 and a dividend yield of 3.7%, with a payout ratio of 56.25%.

AGF Management Ltd. decreased its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,336 shares of the oil and gas company's stock after selling 28,546 shares during the period. AGF Management Ltd.'s holdings in Exxon Mobil were worth $35,838,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Northern Trust Corp increased its stake in shares of Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after acquiring an additional 2,998,892 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after acquiring an additional 1,340,343 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Exxon Mobil by 3.9% in the fourth quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company's stock worth $3,739,465,000 after acquiring an additional 1,293,111 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Exxon Mobil by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock worth $3,850,167,000 after purchasing an additional 512,860 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock worth $3,028,968,000 after purchasing an additional 909,386 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Performance

NYSE XOM opened at $105.87 on Tuesday. The firm has a market cap of $451.35 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 2.01 and a beta of 0.53. The company has a 50 day moving average of $109.94 and a 200-day moving average of $108.94. 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 posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company's revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $2.14 earnings per share. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Morgan Stanley upped their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Mizuho decreased 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, Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil currently has a consensus rating of "Hold" and a consensus 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.

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