Exxon Mobil Corporation $XOM Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Exxon Mobil by 2.2%, selling over 1 million shares, now holding 45 million shares worth approximately $5.35 billion.
• Exxon Mobil's stock currently has a consensus rating of "Hold" with target prices ranging from $124 to $128, reflecting mixed analyst perspectives on its performance.
• The company announced a quarterly dividend of $0.99 per share, with a dividend yield of 3.7%, showcasing its commitment to returning value to shareholders.

Northern Trust Corp cut its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,003,295 shares of the oil and gas company's stock after selling 1,014,063 shares during the period. Exxon Mobil accounts for about 0.8% of Northern Trust Corp's portfolio, making the stock its 15th largest position. Northern Trust Corp owned about 1.04% of Exxon Mobil worth $5,352,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of XOM. Quantinno Capital Management LP lifted its stake in Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after acquiring an additional 110,772 shares during the period. Accredited Wealth Management LLC acquired a new stake in Exxon Mobil during the 4th quarter valued at approximately $55,000. Journey Strategic Wealth LLC lifted its stake in Exxon Mobil by 6.7% during the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after acquiring an additional 1,379 shares during the period. Legacy Trust lifted its stake in Exxon Mobil by 12.7% during the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after acquiring an additional 997 shares during the period. Finally, Hartford Funds Management Co LLC lifted its stake in Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after acquiring an additional 2,617 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen cut shares of Exxon Mobil from a "hold" rating to a "sell" rating in a research note on Saturday. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. TD Cowen boosted their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Mizuho decreased their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $125.26.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $106.54 on Monday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The firm has a market capitalization of $454.21 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.00 and a beta of 0.53. The company has a fifty day simple moving average of $110.25 and a 200-day simple moving average of $108.88. 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 (NYSE:XOM - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. During the same quarter in the prior year, the firm earned $2.14 earnings per share. The company's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm 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 of this dividend is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. Exxon Mobil's dividend payout ratio is presently 56.25%.

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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