Korea Investment CORP Has $388.88 Million Stake in Exxon Mobil Corporation $XOM

Key Points

• Korea Investment CORP reduced its stake in Exxon Mobil by 3.8%, owning 3,269,809 shares, which amounts to approximately $388.88 million, making it the firm's 15th largest holding.
• Exxon Mobil recently reported quarterly earnings of $1.64 earnings per share, exceeding estimates, with revenue totaling $81.51 billion, down 12.4% from the previous year.
• The company declared a quarterly dividend of $0.99 per share, reflecting a 3.7% dividend yield and a payout ratio of 56.25%.

Korea Investment CORP trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,269,809 shares of the oil and gas company's stock after selling 128,238 shares during the quarter. Exxon Mobil accounts for 0.9% of Korea Investment CORP's investment portfolio, making the stock its 15th largest holding. Korea Investment CORP owned 0.08% of Exxon Mobil worth $388,878,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of XOM. XTX Topco Ltd acquired a new position in shares of Exxon Mobil during the fourth quarter worth approximately $552,000. MML Investors Services LLC raised its position in shares of Exxon Mobil by 3.4% during the fourth quarter. MML Investors Services LLC now owns 564,918 shares of the oil and gas company's stock worth $60,768,000 after purchasing an additional 18,707 shares during the period. Landing Point Financial Group LLC acquired a new position in shares of Exxon Mobil during the fourth quarter worth approximately $888,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Exxon Mobil by 5.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 10,541 shares of the oil and gas company's stock worth $1,134,000 after purchasing an additional 541 shares during the period. Finally, Sharpepoint LLC acquired a new position in shares of Exxon Mobil during the fourth quarter worth approximately $1,098,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on XOM shares. Wall Street Zen lowered Exxon Mobil from a "hold" rating to a "sell" rating in a research report on Saturday. TD Cowen increased their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Piper Sandler increased their price target on Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Mizuho lowered their price target on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of "Hold" and an average target price of $125.26.

Exxon Mobil Stock Down 0.8%

XOM stock opened at $106.54 on Monday. 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 company has a market capitalization of $454.21 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.00 and a beta of 0.53. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The stock has a fifty day moving average of $110.25 and a 200-day moving average of $108.88.

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 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17. The company 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 quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.14 EPS. As a group, equities research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.99 per share. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.7%. Exxon Mobil's dividend payout ratio 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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