Adage Capital Partners GP L.L.C. Sells 442,500 Shares of Exxon Mobil Corporation $XOM

Key Points

• Adage Capital Partners GP L.L.C. sold 442,500 shares of Exxon Mobil, reducing its stake by 9.8%, resulting in ownership of 4,055,165 shares valued at approximately $482.3 million.
• Major investors such as Bank of New York Mellon and Ameriprise Financial have increased their holdings in Exxon Mobil, contributing to 61.80% of the stock being owned by institutional investors.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, with an annualized yield of 3.5%, while its latest earnings report showed a decrease in revenue compared to the previous year.

Adage Capital Partners GP L.L.C. trimmed its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 9.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,055,165 shares of the oil and gas company's stock after selling 442,500 shares during the period. Exxon Mobil accounts for approximately 0.9% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 15th biggest position. Adage Capital Partners GP L.L.C. owned 0.09% of Exxon Mobil worth $482,281,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of XOM. 10Elms LLP bought a new position in Exxon Mobil during the 4th quarter worth $25,000. Graybill Wealth Management LTD. bought a new position in Exxon Mobil during the 1st quarter worth $29,000. Elequin Capital LP bought a new position in Exxon Mobil during the 1st quarter worth $31,000. Capital A Wealth Management LLC bought a new position in Exxon Mobil during the 4th quarter worth $32,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 238 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Exxon Mobil Stock Up 0.5%

XOM stock traded up $0.55 during mid-day trading on Thursday, reaching $112.46. 12,862,646 shares of the company traded hands, compared to its average volume of 16,618,688. The stock has a market cap of $479.46 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 2.13 and a beta of 0.57. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The firm's 50 day moving average price is $110.41 and its 200 day moving average price is $109.10.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.14 EPS. As a group, equities research analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.99 per share. The ex-dividend date is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil's payout ratio is 56.25%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho lowered 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. Piper Sandler lifted their price objective on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Melius Research started coverage on Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of "Hold" and a consensus target price of $125.00.

About Exxon Mobil

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.