Flputnam Investment Management Co. Sells 28,422 Shares of Exxon Mobil Corporation $XOM

Key Points

• Flputnam Investment Management Co. reduced its holdings in Exxon Mobil (NYSE:XOM) by 25.9% in the first quarter, now owning 81,394 shares worth approximately $9.68 million.
• Exxon Mobil reported $1.64 earnings per share for the latest quarter, exceeding analysts' expectations of $1.47, with a net revenue of $81.51 billion.
• The company recently announced a quarterly dividend of $0.99 per share, which equates to an annual yield of 3.5%, with a payout ratio of 56.25%.

Flputnam Investment Management Co. decreased its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 25.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,394 shares of the oil and gas company's stock after selling 28,422 shares during the quarter. Flputnam Investment Management Co.'s holdings in Exxon Mobil were worth $9,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in XOM. Schonfeld Strategic Advisors LLC lifted its holdings in 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 acquiring an additional 3,197 shares during the period. Accredited Wealth Management LLC purchased a new stake in shares of Exxon Mobil during the 4th quarter valued at about $55,000. Algert Global LLC lifted its stake in shares of Exxon Mobil by 10.8% in the 4th quarter. Algert Global LLC now owns 21,374 shares of the oil and gas company's stock worth $2,299,000 after purchasing an additional 2,078 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Exxon Mobil by 1.7% in the fourth 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 during the last quarter. Finally, Bearing Point Capital LLC bought a new stake in Exxon Mobil during the fourth quarter valued at approximately $1,069,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insider Activity

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

XOM has been the topic of several recent research reports. Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Sunday, August 24th. Mizuho dropped their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler lifted their price target on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Melius Research began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $125.00.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock traded up $0.55 during trading on Thursday, reaching $112.46. 12,862,646 shares of the stock traded hands, compared to its average volume of 16,618,688. 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 company has a market capitalization of $479.46 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 2.13 and a beta of 0.57. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The business has a fifty day simple moving average of $110.41 and a two-hundred day simple moving average of $109.10.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 EPS. Sell-side analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

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

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.