Nuveen LLC Acquires New Shares in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Nuveen LLC has acquired a new position in Exxon Mobil Corporation worth approximately $2.73 billion, purchasing nearly 23 million shares, making it the firm's 17th largest holding.
• Exxon Mobil recently reported earnings of $1.64 per share, surpassing analysts' expectations, with quarterly revenue of $81.51 billion but a year-over-year decline of 12.4%.
• The company has announced a quarterly dividend of $0.99 per share, with a projected annual yield of 3.7%, reflecting a dividend payout ratio of 56.25%.

Nuveen LLC acquired a new stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,958,162 shares of the oil and gas company's stock, valued at approximately $2,730,414,000. Exxon Mobil comprises about 0.8% of Nuveen LLC's investment portfolio, making the stock its 17th largest position. Nuveen LLC owned 0.53% of Exxon Mobil at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of XOM. Axis Wealth Partners LLC raised its position in shares of Exxon Mobil by 1.9% in the 1st quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock worth $591,000 after acquiring an additional 93 shares in the last quarter. Gagnon Securities LLC lifted its stake in Exxon Mobil by 1.3% in the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock valued at $860,000 after purchasing an additional 95 shares during the last quarter. WPWealth LLP raised its holdings in Exxon Mobil by 1.1% during the 4th quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company's stock valued at $990,000 after acquiring an additional 96 shares during the period. Ascent Capital Management LLC increased its holdings in shares of Exxon Mobil by 2.0% in the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock worth $584,000 after purchasing an additional 96 shares during the period. Finally, DDD Partners LLC increased its stake in Exxon Mobil by 1.4% in the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock valued at $810,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Exxon Mobil Stock Performance

XOM traded up $1.40 during trading on Wednesday, reaching $107.53. 17,950,244 shares of the company's stock were exchanged, compared to its average volume of 16,798,379. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $109.99 and a 200 day moving average price of $108.92. The company has a market capitalization of $458.43 billion, a P/E ratio of 15.27, a PEG ratio of 1.99 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 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 previous year, the business posted $2.14 earnings per share. As a group, analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.7%. Exxon Mobil's dividend payout ratio is currently 56.25%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on XOM. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Morgan Stanley boosted their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average 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.