First Manhattan CO. LLC. Reduces Holdings in Exxon Mobil Corporation $XOM

Key Points

• First Manhattan CO. LLC has reduced its stake in Exxon Mobil by 6.8%, selling 13,653 shares and bringing their total holdings to $22,165,000.
• Exxon Mobil declared a quarterly dividend of $0.99 per share, which will be paid on September 10th, representing a dividend yield of 3.5%.
• Analysts generally have a consensus rating of "Hold" on the stock, with a consensus price target set at $125.00.

First Manhattan CO. LLC. cut its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,369 shares of the oil and gas company's stock after selling 13,653 shares during the quarter. First Manhattan CO. LLC.'s holdings in Exxon Mobil were worth $22,165,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of XOM. Schonfeld Strategic Advisors LLC boosted its stake in shares of Exxon Mobil by 23.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 17,078 shares of the oil and gas company's stock valued at $1,837,000 after buying an additional 3,197 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in Exxon Mobil in the fourth quarter valued at $55,000. Algert Global LLC increased its position in shares of Exxon Mobil by 10.8% in the fourth quarter. Algert Global LLC now owns 21,374 shares of the oil and gas company's stock valued at $2,299,000 after buying an additional 2,078 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Exxon Mobil by 1.7% in the 4th quarter. Benjamin Edwards Inc. now owns 501,172 shares of the oil and gas company's stock worth $53,916,000 after buying an additional 8,437 shares in the last quarter. Finally, Bearing Point Capital LLC acquired a new stake in Exxon Mobil in the 4th quarter valued at about $1,069,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Trading Up 0.5%

Exxon Mobil stock traded up $0.55 during midday trading on Thursday, reaching $112.46. The stock had a trading volume of 12,862,646 shares, compared to its average volume of 16,618,688. The stock's 50-day simple moving average is $110.41 and its 200 day simple moving average is $109.10. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The stock has a market capitalization of $479.46 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57.

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

Exxon Mobil Announces Dividend

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 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 dividend yield of 3.5%. Exxon Mobil's payout ratio is presently 56.25%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on XOM. Piper Sandler upped their price target on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Melius began coverage on Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target for the company. UBS Group upped their price objective on Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, TD Cowen upped their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $125.00.

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.