Te Ahumairangi Investment Management Ltd Sells 4,300 Shares of Exxon Mobil Corporation $XOM

Key Points

• Te Ahumairangi Investment Management Ltd has reduced its stake in Exxon Mobil Corporation (NYSE:XOM) by 20.1%, now holding 17,111 shares valued at approximately $2,035,000.
• Exxon Mobil recently reported $1.64 earnings per share for the quarter, surpassing expectations, despite a 12.4% decrease in revenue year-over-year.
• The company has declared a quarterly dividend of $0.99 per share, with a dividend yield of 3.5%, to be paid on September 10th, 2023.

Te Ahumairangi Investment Management Ltd lowered its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 20.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,111 shares of the oil and gas company's stock after selling 4,300 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in Exxon Mobil were worth $2,035,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of XOM. 10Elms LLP acquired a new stake in Exxon Mobil in the fourth quarter valued at about $25,000. Graybill Wealth Management LTD. acquired a new stake in Exxon Mobil in the first quarter valued at about $29,000. Elequin Capital LP acquired a new stake in Exxon Mobil in the first quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new stake in Exxon Mobil in the fourth quarter valued at about $32,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its stake in Exxon Mobil by 396.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after buying an additional 238 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.03% of the company's stock.

Exxon Mobil Trading Up 0.8%

Shares of Exxon Mobil stock traded up $0.93 during midday trading on Friday, reaching $114.28. The company had a trading volume of 14,596,397 shares, compared to its average volume of 15,656,882. The stock has a fifty day moving average price of $110.16 and a 200 day moving average price of $108.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The firm has a market cap of $487.21 billion, a PE ratio of 16.23, a P/E/G ratio of 2.13 and a beta of 0.53. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings data 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 company 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%.The firm's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.14 earnings per share. On average, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm 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 $0.99 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.5%. Exxon Mobil's payout ratio is 56.25%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley lifted their price target on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. Melius assumed coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target on the stock. Mizuho cut their price target on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $125.00.

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.