Exxon Mobil Corporation $XOM Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has reduced its stake in Exxon Mobil Corporation by 2.6%, now holding 607,549 shares worth approximately $72.26 million.
• Exxon Mobil reported earnings per share (EPS) of $1.64 for the last quarter, exceeding the estimate of $1.47, despite a 12.4% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.99 per share with an annual yield of 3.5%, and a payout ratio of 56.25%.

Panagora Asset Management Inc. trimmed its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 607,549 shares of the oil and gas company's stock after selling 16,500 shares during the quarter. Panagora Asset Management Inc.'s holdings in Exxon Mobil were worth $72,256,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of XOM. Bank of New York Mellon Corp raised its holdings in shares of Exxon Mobil by 3.0% during the 1st 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 buying an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock valued at $3,850,167,000 after buying an additional 512,860 shares during the period. Ameriprise Financial Inc. increased its holdings in Exxon Mobil by 10.8% during the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock worth $3,213,848,000 after purchasing an additional 2,639,797 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Exxon Mobil by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock worth $3,028,968,000 after purchasing an additional 909,386 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Exxon Mobil during the 1st quarter worth approximately $2,730,414,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

XOM has been the topic of several analyst reports. UBS Group lifted their price objective on Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Melius initiated coverage on Exxon Mobil in a report on Wednesday, August 20th. They set a "hold" rating and a $111.00 price objective on the stock. Barclays restated 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. Finally, Piper Sandler lifted their target price on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $125.00.

Exxon Mobil Stock Performance

Shares of XOM traded up $0.93 during mid-day trading on Friday, hitting $114.28. The stock had a trading volume of 14,596,397 shares, compared to its average volume of 15,404,174. The company has a market cap of $487.21 billion, a PE ratio of 16.23, a PEG ratio of 2.13 and a beta of 0.57. The company's fifty day simple moving average is $110.16 and its two-hundred day simple moving average is $109.00. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The business's revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. On average, equities analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given 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 yield of 3.5%. Exxon Mobil's 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.