Exxon Mobil Corporation $XOM Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. reduced its stake in Exxon Mobil by 6.2%, now holding 254,319 shares worth approximately $30.25 million.
• Exxon Mobil reported $1.64 EPS for the last quarter, exceeding analysts' expectations, despite a 12.4% decline in quarterly revenue compared to the previous year.
• The company declared a quarterly dividend of $0.99, representing a yield of 3.6%, with a payout ratio of 56.25%.

Meiji Yasuda Asset Management Co Ltd. trimmed its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,319 shares of the oil and gas company's stock after selling 16,773 shares during the period. Exxon Mobil makes up approximately 1.2% of Meiji Yasuda Asset Management Co Ltd.'s portfolio, making the stock its 10th biggest position. Meiji Yasuda Asset Management Co Ltd.'s holdings in Exxon Mobil were worth $30,246,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. 10Elms LLP acquired a new position in shares of Exxon Mobil during the fourth quarter worth approximately $25,000. Graybill Wealth Management LTD. acquired a new stake in Exxon Mobil in the 1st quarter valued at $29,000. Elequin Capital LP bought a new stake in Exxon Mobil during the 1st quarter valued at $31,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after buying an additional 238 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Exxon Mobil during the fourth quarter worth $32,000. Institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Performance

XOM stock opened at $109.23 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The firm has a market cap of $465.66 billion, a PE ratio of 15.52, a P/E/G ratio of 2.04 and a beta of 0.57. The business has a 50 day moving average of $110.45 and a 200-day moving average of $109.10. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34.

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

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's payout ratio is 56.25%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on XOM shares. Piper Sandler boosted their target price on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Morgan Stanley boosted their price objective on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. TD Cowen raised their target price on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Finally, Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $125.00.

Insiders Place Their Bets

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

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.

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