Barings LLC Sells 58,376 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Barings LLC reduced its holdings in Exxon Mobil by 31.9%, owning 124,369 shares after selling 58,376 shares, valued at approximately $14.79 million.
• Exxon Mobil's recent quarterly earnings reported $1.64 EPS, surpassing expectations and reflecting a 12.4% decline in revenue year-over-year at $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, with an annualized yield of 3.6%, set to be paid on September 10th.

Barings LLC cut its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 31.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 124,369 shares of the oil and gas company's stock after selling 58,376 shares during the quarter. Barings LLC's holdings in Exxon Mobil were worth $14,791,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in XOM. Axis Wealth Partners LLC raised its stake in Exxon Mobil by 1.9% in the 1st quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock valued at $591,000 after acquiring an additional 93 shares during the period. WPWealth LLP raised its stake in Exxon Mobil by 1.1% in the 4th quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company's stock valued at $990,000 after acquiring an additional 96 shares during the period. Ascent Capital Management LLC raised its stake in Exxon Mobil by 2.0% in the 1st quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock valued at $584,000 after acquiring an additional 96 shares during the period. DDD Partners LLC raised its stake in Exxon Mobil by 1.4% in the 1st quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock valued at $810,000 after acquiring an additional 96 shares during the period. Finally, Clarity Asset Management Inc. raised its stake in Exxon Mobil by 29.7% in the 4th quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after acquiring an additional 100 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

XOM has been the topic of a number of research analyst reports. Mizuho dropped their price target on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Barclays restated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. TD Cowen raised their price objective on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $125.42.

Exxon Mobil Trading Down 1.8%

Shares of NYSE:XOM traded down $2.03 during trading on Friday, reaching $109.61. The stock had a trading volume of 19,647,904 shares, compared to its average volume of 14,938,472. The firm's fifty day moving average is $109.48 and its 200 day moving average is $109.11. 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 Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The stock has a market cap of $472.38 billion, a price-to-earnings ratio of 15.57, a P/E/G ratio of 2.06 and a beta of 0.53.

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 EPS for the quarter, beating 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 company had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same period in the prior year, the firm posted $2.14 EPS. The company's quarterly revenue was down 12.4% on a year-over-year basis. As a group, equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

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. This represents a $3.96 annualized dividend and a dividend yield of 3.6%. Exxon Mobil's dividend payout ratio is currently 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.