Rafferty Asset Management LLC Lowers Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Rafferty Asset Management LLC reduced its stock position in Exxon Mobil Corporation by 15.8%, selling 135,296 shares and ending with 722,537 shares worth approximately $85.93 million.
• Exxon Mobil recently reported $1.64 EPS for the quarter, exceeding the expected $.1.47, while revenue was $81.51 billion, surpassing analyst estimates.
• The company announced a quarterly dividend of $0.99 per share, translating to an annualized dividend of $3.96 and a yield of 3.5%.

Rafferty Asset Management LLC lowered its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 15.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 722,537 shares of the oil and gas company's stock after selling 135,296 shares during the quarter. Rafferty Asset Management LLC's holdings in Exxon Mobil were worth $85,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boothbay Fund Management LLC increased its holdings in Exxon Mobil by 53.9% in the 4th quarter. Boothbay Fund Management LLC now owns 3,812 shares of the oil and gas company's stock worth $410,000 after buying an additional 1,335 shares in the last quarter. Berger Financial Group Inc lifted its stake in shares of Exxon Mobil by 4.9% during the 4th quarter. Berger Financial Group Inc now owns 17,122 shares of the oil and gas company's stock valued at $1,842,000 after buying an additional 803 shares in the last quarter. Quarry LP lifted its position in shares of Exxon Mobil by 123.8% in the fourth quarter. Quarry LP now owns 998 shares of the oil and gas company's stock valued at $107,000 after acquiring an additional 552 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Exxon Mobil in the fourth quarter valued at about $258,000. Finally, Beacon Pointe Advisors LLC lifted its position in shares of Exxon Mobil by 8.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 458,510 shares of the oil and gas company's stock valued at $49,322,000 after acquiring an additional 34,194 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on XOM. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Morgan Stanley boosted their price objective on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Sunday. Mizuho cut their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. 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 assigned a Sell rating to the company. According to MarketBeat, Exxon Mobil currently has an average rating of "Hold" and an average price target of $125.00.

Exxon Mobil Trading Up 0.5%

Exxon Mobil stock opened at $111.80 on Tuesday. 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 12 month low of $97.80 and a 12 month high of $126.34. The stock's 50 day simple moving average is $110.23 and its two-hundred day simple moving average is $108.91. The firm has a market cap of $476.63 billion, a PE ratio of 15.88, a P/E/G ratio of 2.08 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 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 business's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.14 EPS. Analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio is presently 56.25%.

Insider Activity

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the sale, the vice president directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.

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.

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