Louisiana State Employees Retirement System Trims Position in Exxon Mobil Corporation $XOM

Key Points

• The Louisiana State Employees Retirement System reduced its position in Exxon Mobil by 2.9% in the second quarter, holding 227,400 shares valued at approximately $24.5 million.
• Exxon Mobil's recent quarterly earnings exceeded expectations, with an EPS of $1.64 against a consensus estimate of $1.47, despite a 12.4% decrease in revenue compared to the same quarter last year.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, reflecting an annualized yield of 3.5% and a payout ratio of 56.25%.

Louisiana State Employees Retirement System cut its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,400 shares of the oil and gas company's stock after selling 6,700 shares during the period. Exxon Mobil comprises 0.4% of Louisiana State Employees Retirement System's portfolio, making the stock its 23rd largest holding. Louisiana State Employees Retirement System's holdings in Exxon Mobil were worth $24,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Graybill Wealth Management LTD. purchased a new position in Exxon Mobil during the first quarter valued at $29,000. Elequin Capital LP purchased a new position in Exxon Mobil during the first quarter valued at $31,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 238 shares in the last quarter. Game Plan Financial Advisors LLC grew its stake in Exxon Mobil by 1,500.0% during the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock valued at $38,000 after acquiring an additional 300 shares in the last quarter. Finally, 1248 Management LLC bought a new position in Exxon Mobil during the first quarter valued at $40,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Trading Down 1.0%

XOM stock opened at $112.90 on Friday. The company has a market capitalization of $481.32 billion, a PE ratio of 16.04, a P/E/G ratio of 2.06 and a beta of 0.51. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $124.26. The firm's 50-day moving average is $111.30 and its 200 day moving average is $109.52. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

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 EPS for the quarter, topping the consensus estimate of $1.47 by $0.17. The company had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm's revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 EPS. On average, research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research report on Thursday. Melius assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective for the company. Bank of America increased their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a research report on Wednesday, September 10th. Mizuho lowered their price objective on shares of Exxon Mobil from $124.00 to $123.00 and set a "neutral" rating for the company in a research report on Monday, September 15th. Finally, Barclays lowered their price objective on shares of Exxon Mobil from $127.00 to $126.00 and set an "overweight" rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.95.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.03% of the company's stock.

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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