Exxon Mobil Corporation (NYSE:XOM) Stake Cut by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,458,067 shares of the oil and gas company's stock after selling 22,117 shares during the quarter. Exxon Mobil accounts for about 0.7% of Retirement Systems of Alabama's investment portfolio, making the stock its 22nd largest holding. Retirement Systems of Alabama's holdings in Exxon Mobil were worth $173,408,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Exxon Mobil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock worth $10,023,875,000 after purchasing an additional 1,104,617 shares during the last quarter. Norges Bank bought a new position in Exxon Mobil during the fourth quarter worth $6,936,737,000. Northern Trust Corp lifted its stake in Exxon Mobil by 7.0% during 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 purchasing an additional 2,998,892 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company's stock worth $4,731,263,000 after purchasing an additional 5,538,694 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake 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 worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on XOM shares. Scotiabank reduced their price objective on Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Mizuho dropped their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. UBS Group dropped their target price on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley dropped their target price on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil has an average rating of "Moderate Buy" and an average target price of $125.50.

Exxon Mobil Price Performance

Shares of XOM opened at $114.81 on Friday. The firm has a market capitalization of $494.77 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 2.26 and a beta of 0.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The stock's fifty day moving average is $106.56 and its 200-day moving average is $108.64.

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

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Thursday, May 15th. Exxon Mobil's payout ratio is currently 52.52%.

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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