ICONIQ Capital LLC Lowers Stock Position in Exxon Mobil Corporation $XOM

Key Points

• ICONIQ Capital LLC has reduced its holdings in Exxon Mobil Corporation by 18.4%, selling 3,587 shares and leaving it with 15,919 shares valued at approximately $1.89 million.
• Other institutional investors have also modified their positions in Exxon Mobil, with notable increases from Northern Trust Corp (7.0%) and Ameriprise Financial Inc. (10.8%) in the first quarter.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, reflecting a 3.6% yield and a payout ratio of 56.25%.

ICONIQ Capital LLC lessened its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 18.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,919 shares of the oil and gas company's stock after selling 3,587 shares during the quarter. ICONIQ Capital LLC's holdings in Exxon Mobil were worth $1,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Northern Trust Corp lifted its position in shares of Exxon Mobil by 7.0% during the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares during the period. Bank of New York Mellon Corp raised its position in shares of Exxon Mobil by 3.0% during the 1st 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Exxon Mobil by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock valued at $3,850,167,000 after acquiring an additional 512,860 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock valued at $3,213,848,000 after acquiring an additional 2,639,797 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Exxon Mobil by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock valued at $3,028,968,000 after acquiring an additional 909,386 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on XOM. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Sunday. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Melius began coverage on shares of Exxon Mobil in a report on Wednesday. They issued a "hold" rating and a $111.00 price objective on the stock. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, Melius Research started coverage on shares of Exxon Mobil in a research note on Wednesday. They issued a "hold" rating and a $111.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $125.00.

Exxon Mobil Trading Up 1.7%

Exxon Mobil stock opened at $111.1220 on Friday. The firm has a 50 day simple moving average of $110.24 and a 200-day simple moving average of $108.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The stock has a market capitalization of $473.74 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 2.08 and a beta of 0.53. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion during 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 business's revenue was down 12.4% on a year-over-year basis. During the same period last year, the firm posted $2.14 earnings per share. As a group, equities research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm 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 3.6%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

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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