Lord Abbett & CO. LLC Sells 103,020 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Lord Abbett & CO. LLC reduced its stake in Exxon Mobil Corporation by 3.4%, now holding approximately 2.9 million shares, making it the firm's 9th biggest holding.
• Exxon Mobil recently reported earnings of $1.64 EPS, beating analysts' expectations, but noted a 12.4% decline in quarterly revenue year-over-year.
• The company announced a quarterly dividend of $0.99, yielding 3.7% annually, with a dividend payout ratio of 56.25%.

Lord Abbett & CO. LLC cut its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,920,780 shares of the oil and gas company's stock after selling 103,020 shares during the period. Exxon Mobil makes up 1.2% of Lord Abbett & CO. LLC's investment portfolio, making the stock its 9th biggest holding. Lord Abbett & CO. LLC owned 0.07% of Exxon Mobil worth $347,368,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its position in shares of Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after buying an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC acquired a new position in shares of Exxon Mobil during the fourth quarter valued at about $55,000. Journey Strategic Wealth LLC raised its position in shares of Exxon Mobil by 6.7% during the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after buying an additional 1,379 shares during the last quarter. Legacy Trust raised its position in shares of Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after buying an additional 997 shares during the last quarter. Finally, Hartford Funds Management Co LLC raised its position in shares of Exxon Mobil by 51.8% during the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after buying an additional 2,617 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on XOM shares. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. TD Cowen increased their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Mizuho dropped their price target on shares of 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, Barclays reissued a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil currently has an average rating of "Hold" and a consensus price target of $125.26.

Exxon Mobil Price Performance

Shares of XOM traded down $0.84 during mid-day trading on Friday, hitting $106.54. 19,264,554 shares of the company traded hands, compared to its average volume of 16,134,398. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $110.25 and a 200 day moving average of $108.88. The stock 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 (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. During the same period in the prior year, the firm earned $2.14 earnings per share. Exxon Mobil's revenue was down 12.4% compared to the same quarter last year. As a group, equities analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, August 15th. Exxon Mobil's dividend payout ratio is currently 56.25%.

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.