Invesco Ltd. Lowers Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Invesco Ltd. reduced its stake in Exxon Mobil by 10.5%, selling over 2 million shares, which now represents 0.4% of Invesco's portfolio.
• Exxon Mobil reported earnings of $1.64 per share, exceeding expectations, but its revenue decreased 12.4% year-over-year to $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, which will be paid on September 10th, resulting in an annual yield of 3.7%.

Invesco Ltd. decreased its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,303,640 shares of the oil and gas company's stock after selling 2,153,324 shares during the period. Exxon Mobil accounts for approximately 0.4% of Invesco Ltd.'s investment portfolio, making the stock its 27th largest position. Invesco Ltd. owned 0.42% of Exxon Mobil worth $2,176,852,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. 10Elms LLP purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $25,000. Graybill Wealth Management LTD. purchased a new position in shares of Exxon Mobil during the 1st quarter worth approximately $29,000. Capital A Wealth Management LLC purchased a new position in shares of Exxon Mobil during the 4th quarter worth approximately $32,000. Cloud Capital Management LLC purchased a new position in shares of Exxon Mobil during the 1st quarter worth approximately $45,000. Finally, Clarity Asset Management Inc. boosted its position in shares of Exxon Mobil by 29.7% during the 4th 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. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on XOM. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Piper Sandler increased their target price on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Finally, Scotiabank reiterated 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 given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $125.26.

Exxon Mobil Stock Up 0.6%

NYSE:XOM traded up $0.63 during midday trading on Wednesday, hitting $106.76. 1,231,729 shares of the company were exchanged, compared to its average volume of 16,687,092. The company has a fifty day simple moving average of $109.99 and a 200 day simple moving average of $108.92. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $455.14 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $79.07 billion. During the same period last year, the firm posted $2.14 EPS. Exxon Mobil's revenue for the quarter was down 12.4% on a year-over-year basis. As a group, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 3.7%. Exxon Mobil's payout ratio is presently 56.25%.

Exxon Mobil Company 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.