Guinness Asset Management LTD Sells 28,709 Shares of Exxon Mobil Corporation $XOM

Key Points

• Guinness Asset Management LTD has reduced its stake in Exxon Mobil Corporation by 19.5%, now holding 118,590 shares valued at approximately $14.06 million after selling 28,709 shares.
• Exxon Mobil's recent quarterly earnings report indicated an earnings per share (EPS) of $1.64, exceeding analysts' expectations, with revenue declining 12.4% year-over-year.
• The company declared a quarterly dividend of $0.99 per share, resulting in an annualized dividend of $3.96, and a dividend yield of 3.5%.

Guinness Asset Management LTD decreased its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 19.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 118,590 shares of the oil and gas company's stock after selling 28,709 shares during the period. Guinness Asset Management LTD's holdings in Exxon Mobil were worth $14,063,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Axis Wealth Partners LLC lifted its holdings in shares of Exxon Mobil by 1.9% in the 1st quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock worth $591,000 after buying an additional 93 shares during the period. Gagnon Securities LLC increased its stake in shares of Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock valued at $860,000 after buying an additional 95 shares during the period. Ascent Capital Management LLC raised its holdings in shares of Exxon Mobil by 2.0% in the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock valued at $584,000 after acquiring an additional 96 shares in the last quarter. DDD Partners LLC lifted its stake in Exxon Mobil by 1.4% in the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock worth $810,000 after acquiring an additional 96 shares during the period. Finally, Waypoint Wealth Partners Inc. lifted its stake in Exxon Mobil by 2.1% in the first quarter. Waypoint Wealth Partners Inc. now owns 4,672 shares of the oil and gas company's stock worth $556,000 after acquiring an additional 96 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Down 0.2%

Shares of Exxon Mobil stock opened at $112.26 on Friday. The firm's 50 day moving average price is $110.55 and its 200-day moving average price is $109.14. 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 52-week low of $97.80 and a 52-week high of $126.34. The company has a market cap of $478.59 billion, a P/E ratio of 15.95, a PEG ratio of 2.06 and a beta of 0.57.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The company's quarterly revenue was down 12.4% compared to the same quarter last year. On average, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil's payout ratio is presently 56.25%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred 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 transaction, the vice president owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on XOM shares. TD Cowen raised their target price on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. UBS Group raised their target price on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Wall Street Zen downgraded shares of Exxon Mobil from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Finally, Piper Sandler raised their target price on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Exxon Mobil has an average rating of "Hold" and a consensus target price of $124.81.

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.

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