Hodges Capital Management Inc. Lowers Position in Exxon Mobil Corporation $XOM

Key Points

• Hodges Capital Management Inc. reduced its stake in Exxon Mobil Corporation by 20.8%, now holding 85,821 shares valued at approximately $10.2 million.
• Exxon Mobil's quarterly earnings surpassed analysts' expectations, reporting $1.64 EPS and $81.51 billion in revenue, although revenue decreased by 12.4% year-over-year.
• The company's most recent quarterly dividend of $0.99 per share reflects an annualized yield of 3.5%, with a dividend payout ratio of 56.25%.

Hodges Capital Management Inc. cut its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,821 shares of the oil and gas company's stock after selling 22,496 shares during the quarter. Exxon Mobil accounts for about 1.0% of Hodges Capital Management Inc.'s portfolio, making the stock its 28th biggest position. Hodges Capital Management Inc.'s holdings in Exxon Mobil were worth $10,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its position in shares of Exxon Mobil by 300.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 14,261 shares of the oil and gas company's stock valued at $1,534,000 after acquiring an additional 10,697 shares during the last quarter. Malaga Cove Capital LLC purchased a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $333,000. Quadcap Wealth Management LLC increased its position in shares of Exxon Mobil by 13.4% during the fourth quarter. Quadcap Wealth Management LLC now owns 21,697 shares of the oil and gas company's stock valued at $2,334,000 after acquiring an additional 2,565 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Exxon Mobil by 4.0% during the fourth quarter. ProShare Advisors LLC now owns 2,343,634 shares of the oil and gas company's stock valued at $252,105,000 after acquiring an additional 90,835 shares during the last quarter. Finally, Point72 Europe London LLP purchased a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $44,166,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by insiders.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $112.26 on Friday. The stock has a fifty day simple moving average of $110.55 and a two-hundred day simple moving average of $109.14. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The firm has a market cap of $478.59 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 2.06 and a beta of 0.57. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

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

Exxon Mobil Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on XOM. Wall Street Zen downgraded Exxon Mobil from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. Barclays reissued a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, TD Cowen increased their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $124.81.

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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