Gulf International Bank UK Ltd Lowers Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Exxon Mobil Corporation by 26.4%, now owning 252,191 shares, which accounts for 1.1% of its total portfolio.
• Exxon Mobil reported $1.64 earnings per share in its latest quarterly results, surpassing analysts' expectations of $1.47, but revenue has declined by 12.4% year-over-year.
• The company has announced a quarterly dividend of $0.99, providing stockholders with an annualized dividend yield of 3.7%.

Gulf International Bank UK Ltd reduced its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 26.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 252,191 shares of the oil and gas company's stock after selling 90,305 shares during the quarter. Exxon Mobil accounts for 1.1% of Gulf International Bank UK Ltd's holdings, making the stock its 14th largest position. Gulf International Bank UK Ltd's holdings in Exxon Mobil were worth $29,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. National Pension Service grew its stake in shares of Exxon Mobil by 1.8% during the 1st quarter. National Pension Service now owns 8,490,353 shares of the oil and gas company's stock worth $1,009,758,000 after purchasing an additional 153,529 shares during the period. Fox Hill Wealth Management lifted its stake in shares of Exxon Mobil by 4.4% in the 1st quarter. Fox Hill Wealth Management now owns 3,723 shares of the oil and gas company's stock valued at $443,000 after purchasing an additional 158 shares during the period. Dagco Inc. purchased a new stake in Exxon Mobil during the first quarter worth $182,000. LGT Group Foundation grew its position in Exxon Mobil by 17.2% during the first quarter. LGT Group Foundation now owns 270,237 shares of the oil and gas company's stock valued at $32,139,000 after buying an additional 39,591 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Exxon Mobil by 3.2% during the first quarter. Russell Investments Group Ltd. now owns 2,953,758 shares of the oil and gas company's stock valued at $351,245,000 after buying an additional 92,784 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Up 0.3%

XOM stock opened at $106.10 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $109.99 and a two-hundred day moving average of $108.92. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The company has a market cap of $452.33 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.99 and a beta of 0.53.

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 the consensus estimate 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%. The company's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.14 EPS. As a group, analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business 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 $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 is currently 56.25%.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. Mizuho decreased their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. 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. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Piper Sandler raised their price objective on Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, TD Cowen upped their target price on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. One 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's stock. According to MarketBeat.com, Exxon Mobil has an average rating of "Hold" and a consensus target price of $125.26.

Exxon Mobil 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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