Exxon Mobil Corporation (NYSE:XOM) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in Exxon Mobil by 7.7%, selling 417,293 shares, and now holds approximately $598 million worth of the stock.
• Exxon Mobil recently reported earnings of $1.76 per share, exceeding analysts' estimates, although revenues of $83.13 billion fell short of expectations.
• The company announced a quarterly dividend of $0.99 per share, resulting in an annualized yield of 3.57% and a payout ratio of 52.52%.

Pacer Advisors Inc. lowered its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 7.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,028,629 shares of the oil and gas company's stock after selling 417,293 shares during the quarter. Exxon Mobil accounts for about 1.4% of Pacer Advisors Inc.'s holdings, making the stock its 2nd largest position. Pacer Advisors Inc. owned approximately 0.12% of Exxon Mobil worth $598,055,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in XOM. Norges Bank purchased a new stake in shares of Exxon Mobil during the 4th quarter worth about $6,936,737,000. GAMMA Investing LLC increased its holdings in Exxon Mobil by 14,242.7% in the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock worth $1,124,787,000 after buying an additional 9,391,614 shares during the last quarter. Franklin Resources Inc. raised its position in Exxon Mobil by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock valued at $3,836,226,000 after acquiring an additional 4,140,046 shares in the last quarter. Northern Trust Corp lifted its stake in 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 valued at $4,950,087,000 after acquiring an additional 2,998,892 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Exxon Mobil during the 4th quarter worth $240,653,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Performance

NYSE XOM opened at $110.87 on Friday. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. The stock has a market cap of $477.80 billion, a P/E ratio of 14.70, a PEG ratio of 2.04 and a beta of 0.50. The company's 50-day simple moving average is $108.70 and its 200 day simple moving average is $109.01.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.03. The business had revenue of $83.13 billion during the quarter, compared to analysts' expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. Exxon Mobil's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 EPS. As a group, research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.99 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.57%. Exxon Mobil's payout ratio is presently 52.52%.

Analysts Set New Price Targets

Several research firms have weighed in on XOM. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an "overweight" rating in a report on Thursday, June 26th. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating on shares of Exxon Mobil in a research report on Tuesday, July 15th. Piper Sandler lifted their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $125.42.

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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