State of Michigan Retirement System Decreases Stock Position in Exxon Mobil Corporation (NYSE:XOM)

State of Michigan Retirement System cut its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,180,918 shares of the oil and gas company's stock after selling 12,000 shares during the quarter. Exxon Mobil accounts for 0.8% of State of Michigan Retirement System's portfolio, making the stock its 19th largest position. State of Michigan Retirement System's holdings in Exxon Mobil were worth $140,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in XOM. Norges Bank purchased a new position in shares of Exxon Mobil in the fourth quarter valued at $6,936,737,000. GAMMA Investing LLC increased its holdings in Exxon Mobil by 14,242.7% during the 1st quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock worth $1,124,787,000 after purchasing an additional 9,391,614 shares during the last quarter. Franklin Resources Inc. increased its holdings in Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the last quarter. Northern Trust Corp increased its holdings in Exxon Mobil by 7.0% during the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after purchasing an additional 2,998,892 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Exxon Mobil during the 4th quarter worth approximately $240,653,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of XOM opened at $115.40 on Friday. The company has a market cap of $497.33 billion, a P/E ratio of 15.31, a PEG ratio of 2.21 and a beta of 0.50. The stock has a fifty day moving average price of $108.01 and a 200 day moving average price of $108.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 0.90. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.03. The firm had revenue of $83.13 billion during the quarter, compared to the consensus estimate of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business earned $2.06 EPS. On average, research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.43%. Exxon Mobil's dividend payout ratio (DPR) is presently 52.52%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Scotiabank lifted their price objective on Exxon Mobil from $115.00 to $125.00 and gave the stock a "sector outperform" rating in a report on Friday. Piper Sandler lifted their price objective on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday. Barclays restated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, TD Cowen boosted their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Exxon Mobil presently has a consensus rating of "Moderate Buy" and an average price target of $126.05.

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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