Neo Ivy Capital Management Cuts Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Neo Ivy Capital Management significantly reduced its stake in Exxon Mobil by 66.9%, selling 45,301 shares and retaining only 22,400 shares, which now represent about 0.8% of its total holdings.
• Exxon Mobil's price target estimates have varied, with UBS lowering it from $135.00 to $131.00 and TD Cowen increasing it from $120.00 to $128.00, while the stock has a consensus rating of "Moderate Buy" from analysts.
• The company recently announced a quarterly dividend of $0.99 per share, which contributes to an annualized dividend of $3.96 and a yield of 3.59%.

Neo Ivy Capital Management reduced its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 66.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,400 shares of the oil and gas company's stock after selling 45,301 shares during the period. Exxon Mobil accounts for about 0.8% of Neo Ivy Capital Management's holdings, making the stock its 18th biggest position. Neo Ivy Capital Management's holdings in Exxon Mobil were worth $2,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Exxon Mobil by 1.2% during the 4th 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 period. Norges Bank purchased a new stake in shares of Exxon Mobil during the 4th quarter worth about $6,936,737,000. Northern Trust Corp grew its holdings in shares of Exxon Mobil by 7.0% during the 4th 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 period. Bank of New York Mellon Corp grew its holdings in shares of Exxon Mobil by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after purchasing an additional 1,340,343 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Exxon Mobil by 13.1% during the 4th 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 period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on XOM. UBS Group decreased their price target on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a report on Monday, April 14th. TD Cowen upped their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Barclays reissued a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, ten have given 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.com, the company has a consensus rating of "Moderate Buy" and an average price target of $125.42.

Exxon Mobil Trading Down 0.3%

XOM traded down $0.37 during midday trading on Friday, hitting $110.42. 10,547,065 shares of the company were exchanged, compared to its average volume of 14,495,533. The firm has a market capitalization of $475.87 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.08 and a beta of 0.50. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The firm's 50 day moving average price is $108.75 and its 200-day moving average price is $109.02. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (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 the consensus estimate of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm's revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.06 EPS. As a group, equities analysts forecast 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 was paid on Tuesday, June 10th. Shareholders 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 3.59%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil's dividend payout ratio is currently 52.52%.

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.