Fayez Sarofim & Co Has $1.16 Billion Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Fayez Sarofim & Co reduced its holdings in Exxon Mobil Corporation by 3.9%, resulting in ownership of approximately 9.78 million shares valued at around $1.16 billion.
• Exxon Mobil reported quarterly earnings of $1.64 per share, exceeding expectations, despite a 12.4% decrease in year-over-year revenue.
• The company declared a quarterly dividend of $0.99, which represents a 3.7% dividend yield, with a dividend payout ratio of 56.25%.

Fayez Sarofim & Co cut its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,781,164 shares of the oil and gas company's stock after selling 396,827 shares during the quarter. Exxon Mobil comprises about 2.9% of Fayez Sarofim & Co's investment portfolio, making the stock its 7th biggest holding. Fayez Sarofim & Co owned 0.23% of Exxon Mobil worth $1,163,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its stake in Exxon Mobil by 24.1% in the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after purchasing an additional 110,772 shares during the period. Accredited Wealth Management LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter valued at $55,000. Journey Strategic Wealth LLC grew its holdings in shares of Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after buying an additional 1,379 shares in the last quarter. Legacy Trust raised its position in Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after buying an additional 997 shares during the period. Finally, Hartford Funds Management Co LLC raised its position in Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after buying an additional 2,617 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. UBS Group decreased their price target on shares of Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a report on Monday, April 14th. TD Cowen upped their price objective 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. Barclays reissued a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Morgan Stanley boosted their price target on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $125.26.

Exxon Mobil Stock Performance

XOM opened at $106.56 on Thursday. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The firm has a market capitalization of $454.28 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 2.02 and a beta of 0.53. The stock's 50 day moving average price is $109.73 and its two-hundred day moving average price is $109.05. 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 announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Exxon Mobil's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company posted $2.14 earnings per share. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) 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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