OVERSEA CHINESE BANKING Corp Ltd Reduces Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Exxon Mobil Corporation by 42.1%, owning 9,428 shares after selling 6,857 shares during the first quarter.
• Exxon Mobil's most recent quarterly earnings showed $1.64 earnings per share, exceeding analysts' expectations by $0.17, despite a 12.4% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.99 per share, resulting in an annualized dividend yield of 3.6%.

OVERSEA CHINESE BANKING Corp Ltd reduced its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 42.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,428 shares of the oil and gas company's stock after selling 6,857 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Exxon Mobil were worth $1,090,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. Northern Trust Corp grew its stake in shares of Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after acquiring an additional 2,998,892 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Exxon Mobil by 3.0% in the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock valued at $5,390,318,000 after acquiring an additional 1,340,343 shares during the period. Capital Research Global Investors raised its stake in shares of Exxon Mobil by 3.9% during the 4th quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company's stock worth $3,739,465,000 after buying an additional 1,293,111 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Exxon Mobil by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,256,504 shares of the oil and gas company's stock worth $2,409,106,000 after buying an additional 1,550,248 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of Exxon Mobil by 10.1% during the 4th quarter. Deutsche Bank AG now owns 11,612,582 shares of the oil and gas company's stock worth $1,249,165,000 after buying an additional 1,066,374 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on XOM shares. Piper Sandler upped their target price on Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Barclays restated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Mizuho dropped their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Morgan Stanley upped their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a report on Monday. Finally, UBS Group dropped their target price on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $125.26.

Exxon Mobil Stock Down 0.8%

Shares of XOM traded down $0.81 during mid-day trading on Tuesday, reaching $106.56. The company's stock had a trading volume of 3,264,054 shares, compared to its average volume of 16,748,389. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The stock has a market cap of $459.25 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 2.06 and a beta of 0.53. 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 company's 50 day moving average is $109.56 and its 200 day moving average is $109.08.

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, topping analysts' consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion for 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 last year, the business posted $2.14 EPS. Equities analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

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