PNC Financial Services Group Inc. Sells 89,499 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• PNC Financial Services Group Inc. reduced its holding in Exxon Mobil by 0.8%, now owning over 10.6 million shares valued at approximately $1.26 billion, making it the 13th largest position in its portfolio.
• Exxon Mobil reported an EPS of $1.64 for the last quarter, exceeding estimates by $0.17, but quarterly revenue fell by 12.4% year-over-year.
• The company announced a quarterly dividend of $0.99 per share, with a dividend yield of 3.6% and a payout ratio of 52.52%.

PNC Financial Services Group Inc. reduced its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,629,938 shares of the oil and gas company's stock after selling 89,499 shares during the quarter. Exxon Mobil comprises about 0.7% of PNC Financial Services Group Inc.'s portfolio, making the stock its 13th biggest position. PNC Financial Services Group Inc. owned 0.25% of Exxon Mobil worth $1,264,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Exxon Mobil by 14,242.7% in the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock valued at $1,124,787,000 after acquiring an additional 9,391,614 shares during the last quarter. Northern Trust Corp boosted its stake in Exxon Mobil by 7.0% during the 4th 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. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Exxon Mobil during the 4th quarter worth approximately $240,653,000. Massachusetts Financial Services Co. MA boosted its stake in 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 acquiring an additional 1,550,248 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Exxon Mobil by 291.5% during the fourth quarter. Federated Hermes Inc. now owns 2,023,359 shares of the oil and gas company's stock worth $217,653,000 after purchasing an additional 1,506,600 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Stock Performance

XOM traded down $2.03 during trading hours on Friday, reaching $109.61. The company's stock had a trading volume of 19,647,904 shares, compared to its average volume of 14,938,472. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The company's 50-day moving average is $109.48 and its 200-day moving average is $109.11. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The firm has a market cap of $472.38 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.06 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 the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion during 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current 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 $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on XOM shares. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday, June 26th. TD Cowen lifted 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. Mizuho lowered their price objective 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, Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil has a consensus rating of "Moderate Buy" and a consensus target price of $125.42.

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.