Exxon Mobil Corporation (NYSE:XOM) Position Trimmed by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. reduced its stake in Exxon Mobil Corporation by 28.8%, bringing its total shares to 268,749, valued at approximately $31.96 million.
• Exxon Mobil recently reported a $1.64 EPS for the last quarter, exceeding estimates by $0.17, although revenue was down 12.4% year-over-year.
• The company announced a quarterly dividend of $0.99 per share, resulting in an annualized dividend yield of 3.7%.

iA Global Asset Management Inc. trimmed its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 28.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 268,749 shares of the oil and gas company's stock after selling 108,794 shares during the quarter. iA Global Asset Management Inc.'s holdings in Exxon Mobil were worth $31,962,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. 10Elms LLP bought a new stake in Exxon Mobil in the fourth quarter valued at about $25,000. Graybill Wealth Management LTD. bought a new stake in shares of Exxon Mobil in the 1st quarter valued at approximately $29,000. Capital A Wealth Management LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter valued at approximately $32,000. Cloud Capital Management LLC bought a new position in Exxon Mobil during the first quarter worth $45,000. Finally, Clarity Asset Management Inc. lifted its stake in Exxon Mobil by 29.7% during the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock worth $47,000 after purchasing an additional 100 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Price Performance

Shares of NYSE:XOM traded down $0.52 during trading on Thursday, reaching $105.99. The company had a trading volume of 13,455,331 shares, compared to its average volume of 15,527,678. The firm's fifty day moving average is $109.79 and its 200 day moving average is $109.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The firm has a market capitalization of $451.85 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 2.00 and a beta of 0.53. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.14 earnings per share. On average, equities analysts forecast 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. Investors of record on Friday, August 15th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's payout ratio is presently 56.25%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Morgan Stanley increased their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday. Barclays reissued a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, TD Cowen raised their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average 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.