GKV Capital Management Co. Inc. Lowers Stake in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• GKV Capital Management Co. Inc. significantly reduced its stake in Exxon Mobil by 89.4%, selling over 20,000 shares and now owning only 2,397 shares valued at approximately $285,000.
• Despite some hedge funds decreasing their holdings, others like Quantinno Capital Management and Hartford Funds Management increased their stakes in Exxon Mobil by 24.1% and 51.8%, respectively, during the recent quarters.
• Exxon Mobil reported better-than-expected earnings per share of $1.64 for the last quarter, surpassing estimates, while also announcing a quarterly dividend of $0.99 per share with a 3.7% yield.

GKV Capital Management Co. Inc. reduced its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 89.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,397 shares of the oil and gas company's stock after selling 20,197 shares during the period. GKV Capital Management Co. Inc.'s holdings in Exxon Mobil were worth $285,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in XOM. Quantinno Capital Management LP lifted its stake in shares of Exxon Mobil by 24.1% in the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after purchasing an additional 110,772 shares during the period. Accredited Wealth Management LLC acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at about $55,000. Journey Strategic Wealth LLC lifted its stake in shares of Exxon Mobil by 6.7% in 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 purchasing an additional 1,379 shares during the period. Legacy Trust lifted its stake in shares of Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after purchasing an additional 997 shares during the period. Finally, Hartford Funds Management Co LLC lifted its stake in shares of Exxon Mobil by 51.8% in 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 purchasing an additional 2,617 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Trading Up 0.3%

Shares of XOM stock opened at $106.10 on Wednesday. The stock has a market cap of $452.33 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53. 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 Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The firm's 50 day moving average price is $109.99 and its two-hundred day moving average price is $108.92.

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

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's payout ratio is presently 56.25%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen raised 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. Piper Sandler raised their target price on shares of Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Morgan Stanley raised their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil presently has an average rating of "Hold" and a consensus price target of $125.26.

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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