Price T Rowe Associates Inc. MD Lowers Holdings in Exxon Mobil Corporation $XOM

Key Points

• Price T Rowe Associates Inc. MD reduced its holdings in Exxon Mobil by 7.2%, now owning 44,284,155 shares, which comprise about 0.6% of its total investments.
• Exxon Mobil's quarterly earnings report revealed EPS of $1.64, exceeding analyst expectations of $1.47, despite a year-over-year revenue decline of 12.4%.
• The company announced a quarterly dividend of $0.99 per share, reflecting a yield of 3.6%, with the next payment scheduled for September 10th.

Price T Rowe Associates Inc. MD trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 7.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 44,284,155 shares of the oil and gas company's stock after selling 3,421,515 shares during the quarter. Exxon Mobil comprises about 0.6% of Price T Rowe Associates Inc. MD's holdings, making the stock its 22nd biggest holding. Price T Rowe Associates Inc. MD owned 1.03% of Exxon Mobil worth $5,266,716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in XOM. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Exxon Mobil by 5.4% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 10,541 shares of the oil and gas company's stock valued at $1,134,000 after purchasing an additional 541 shares in the last quarter. MGO One Seven LLC lifted its stake in Exxon Mobil by 19.6% during the 4th quarter. MGO One Seven LLC now owns 107,529 shares of the oil and gas company's stock valued at $11,567,000 after acquiring an additional 17,610 shares during the period. Syon Capital LLC boosted its holdings in shares of Exxon Mobil by 2.6% during the 4th quarter. Syon Capital LLC now owns 80,884 shares of the oil and gas company's stock valued at $8,701,000 after acquiring an additional 2,063 shares during the last quarter. Burling Wealth Partners LLC purchased a new position in shares of Exxon Mobil during the fourth quarter valued at approximately $1,649,000. Finally, Integrated Wealth Concepts LLC lifted its position in Exxon Mobil by 1.6% during the fourth quarter. Integrated Wealth Concepts LLC now owns 247,780 shares of the oil and gas company's stock valued at $26,654,000 after purchasing an additional 3,998 shares during the period. Institutional investors own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Melius initiated coverage on shares of Exxon Mobil in a research report on Wednesday. They issued a "hold" rating and a $111.00 target price for the company. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Piper Sandler boosted their price target on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Barclays restated a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Exxon Mobil has an average rating of "Hold" and a consensus price target of $125.00.

Exxon Mobil Trading Up 1.0%

Shares of NYSE:XOM opened at $108.5440 on Thursday. The stock has a 50 day moving average of $110.27 and a 200 day moving average of $108.87. The company has a market cap of $462.75 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. The company had revenue of $81.51 billion for the quarter, compared to analysts' expectations 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 business earned $2.14 EPS. As a group, equities research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) 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.

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