Hartford Investment Management Co. Lowers Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Hartford Investment Management Co. reduced its holdings in Exxon Mobil by 2.2%, leaving them with 265,627 shares worth approximately $31.59 million, accounting for 1.1% of their total portfolio.
• Exxon Mobil reported strong quarterly earnings with an EPS of $1.64, surpassing analyst expectations, and also announced a quarterly dividend of $0.99, resulting in a yield of 3.5%.
• Currently, Exxon Mobil has a market capitalization of $482.25 billion and a consensus rating of "Moderate Buy" among analysts, with a price target set at $125.42.

Hartford Investment Management Co. trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,627 shares of the oil and gas company's stock after selling 5,838 shares during the quarter. Exxon Mobil accounts for approximately 1.1% of Hartford Investment Management Co.'s investment portfolio, making the stock its 14th biggest position. Hartford Investment Management Co.'s holdings in Exxon Mobil were worth $31,591,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp grew its stake in shares of Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after purchasing an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Exxon Mobil by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after purchasing an additional 1,340,343 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Exxon Mobil by 3.9% during the fourth quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company's stock worth $3,739,465,000 after purchasing an additional 1,293,111 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Exxon Mobil by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 20,256,504 shares of the oil and gas company's stock worth $2,409,106,000 after purchasing an additional 1,550,248 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Exxon Mobil by 10.1% during the fourth quarter. Deutsche Bank AG now owns 11,612,582 shares of the oil and gas company's stock worth $1,249,165,000 after purchasing an additional 1,066,374 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of XOM opened at $111.90 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24. The company has a market capitalization of $482.25 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.10 and a beta of 0.50. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The firm has a 50-day simple moving average of $109.35 and a 200-day simple moving average of $109.15.

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 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. On average, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.5%. Exxon Mobil's payout ratio is currently 52.52%.

Analysts Set New Price Targets

A number of equities analysts recently commented on XOM shares. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Morgan Stanley reiterated an "overweight" rating on shares of Exxon Mobil in a research note on Tuesday, July 15th. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. 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 note on Tuesday, May 13th. Finally, Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of "Moderate Buy" and a consensus price target of $125.42.

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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