Sit Investment Associates Inc. Cuts Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Sit Investment Associates Inc. has reduced its stake in Exxon Mobil Corporation by 17.0%, selling 9,940 shares and now holding 48,510 shares valued at $5,769,000.
• Exxon Mobil reported $1.64 earnings per share in its latest quarterly results, surpassing analysts' expectations of $1.47, despite a 12.4% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.99, to be paid on September 10th, contributing to an annualized dividend yield of 3.7%.

Sit Investment Associates Inc. decreased its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 17.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,510 shares of the oil and gas company's stock after selling 9,940 shares during the quarter. Sit Investment Associates Inc.'s holdings in Exxon Mobil were worth $5,769,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. 10Elms LLP acquired a new position in shares of Exxon Mobil in the fourth quarter worth $25,000. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil in the first quarter worth $29,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Exxon Mobil by 396.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 238 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in shares of Exxon Mobil in the fourth quarter worth $32,000. Finally, Cloud Capital Management LLC acquired a new position in shares of Exxon Mobil in the first quarter worth $45,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Price Performance

Shares of XOM opened at $107.48 on Friday. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $126.34. The stock has a market cap of $458.23 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.02 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 has a fifty day moving average price of $110.21 and a 200 day moving average price of $108.89.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same period in the previous year, the company earned $2.14 earnings per share. Exxon Mobil's quarterly revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Stockholders of record on Friday, August 15th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio is presently 56.25%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays restated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Mizuho dropped 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. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Morgan Stanley boosted their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, Piper Sandler boosted their target price on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Exxon Mobil has an average rating of "Hold" and a consensus target price of $125.26.

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.

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