Exxon Mobil Corporation (NYSE:XOM) Shares Sold by Prudential PLC

Key Points

• Prudential PLC has significantly reduced its stake in Exxon Mobil Corporation by 80.1% during the first quarter, now holding 11,967 shares valued at approximately $1.4 million.
• Exxon Mobil recently reported an earnings per share (EPS) of $1.64 for the last quarter, exceeding analysts' expectations of $1.47, despite a 12.4% decline in quarterly revenue year-over-year.
• The company plans to pay a $0.99 quarterly dividend on September 10th, representing a 3.7% dividend yield and a payout ratio of 56.25%.

Prudential PLC reduced its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 80.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,967 shares of the oil and gas company's stock after selling 48,130 shares during the period. Prudential PLC's holdings in Exxon Mobil were worth $1,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Quantinno Capital Management LP raised its holdings in shares of Exxon Mobil by 24.1% during the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after purchasing an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC purchased a new position in Exxon Mobil in the fourth quarter valued at $55,000. Journey Strategic Wealth LLC increased its holdings in Exxon Mobil by 6.7% in the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after buying an additional 1,379 shares in the last quarter. Legacy Trust increased its holdings in Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after buying an additional 997 shares in the last quarter. Finally, Hartford Funds Management Co LLC increased its holdings in Exxon Mobil by 51.8% in the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after buying an additional 2,617 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on XOM shares. Wall Street Zen cut shares of Exxon Mobil from a "hold" rating to a "sell" rating in a report on Saturday. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Mizuho cut their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Finally, TD Cowen lifted their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $125.26.

Exxon Mobil Trading Down 0.8%

XOM traded down $0.84 during trading on Friday, hitting $106.54. 19,264,554 shares of the company's stock were exchanged, compared to its average volume of 16,134,398. 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 Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The stock has a 50 day moving average price of $110.25 and a 200 day moving average price of $108.88. The firm has a market cap of $454.21 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 2.00 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. Exxon Mobil's revenue for the quarter was down 12.4% on a year-over-year basis. As a group, analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.7%. Exxon Mobil's dividend payout ratio is currently 56.25%.

About Exxon Mobil

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.