Primecap Management Co. CA Has $739.07 Million Stake in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Primecap Management Co. reduced its stake in Exxon Mobil Corporation (NYSE:XOM) by 4.7%, holding approximately 6.2 million shares worth $739.07 million as of the latest SEC filing.
• Exxon Mobil reported a quarterly EPS of $1.64, exceeding estimates of $1.47, but its revenue fell by 12.4% year-over-year to $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, which translates to an annualized dividend yield of 3.7%, with a payout ratio of 56.25%.

Primecap Management Co. CA trimmed its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,214,344 shares of the oil and gas company's stock after selling 308,646 shares during the period. Primecap Management Co. CA owned approximately 0.14% of Exxon Mobil worth $739,072,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of XOM. 10Elms LLP bought a new position in shares of Exxon Mobil during the fourth quarter worth $25,000. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil during the 1st quarter worth approximately $29,000. Capital A Wealth Management LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $32,000. Cloud Capital Management LLC acquired a new stake in Exxon Mobil in the first quarter valued at approximately $45,000. Finally, Clarity Asset Management Inc. boosted its position in Exxon Mobil by 29.7% in the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after buying an additional 100 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on XOM. Morgan Stanley boosted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research note on Monday. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. TD Cowen upped their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Scotiabank reissued an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Mizuho decreased their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $125.26.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $107.15 on Wednesday. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The stock has a market capitalization of $461.78 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.01 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 firm's 50 day simple moving average is $109.64 and its 200-day simple moving average is $109.07.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly 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 business had revenue of $81.51 billion for 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 company's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.14 EPS. Analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.7%. Exxon Mobil's payout ratio is presently 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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