Exxon Mobil Corporation (NYSE:XOM) Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in Exxon Mobil by 9.0%, now holding over 8 million shares worth approximately $960 million, making it the 8th largest position in their portfolio.
• Exxon Mobil's latest earnings report showed an EPS of $1.64, surpassing expectations, but revenue declined by 12.4% compared to the previous year.
• The company announced a quarterly dividend of $0.99 per share, reflecting an annualized yield of 3.7%, to be paid on September 10th.

HighTower Advisors LLC trimmed its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 9.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,072,641 shares of the oil and gas company's stock after selling 802,164 shares during the quarter. Exxon Mobil comprises approximately 1.3% of HighTower Advisors LLC's portfolio, making the stock its 8th biggest position. HighTower Advisors LLC owned approximately 0.19% of Exxon Mobil worth $960,079,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. 10Elms LLP acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at approximately $25,000. Graybill Wealth Management LTD. purchased a new stake in shares of Exxon Mobil during the first quarter worth approximately $29,000. Capital A Wealth Management LLC purchased a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $32,000. Cloud Capital Management LLC purchased a new stake in shares of Exxon Mobil during the first quarter worth approximately $45,000. Finally, Clarity Asset Management Inc. raised its stake in shares of 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 last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Stock Down 0.9%

Exxon Mobil stock opened at $105.87 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The firm has a market capitalization of $451.35 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The stock's fifty day moving average is $109.94 and its two-hundred day moving average is $108.94.

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. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.14 earnings per share. Analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.99 per share. 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 presently 56.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on XOM shares. Morgan Stanley upped their price target on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Mizuho cut their price objective on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Piper Sandler increased their price objective on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil presently has a consensus rating of "Hold" and a consensus price target of $125.26.

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.

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