State of New Jersey Common Pension Fund D Sells 152,977 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Exxon Mobil by 9.3%, selling 152,977 shares to hold a total of 1,488,140 shares valued at approximately $177 million.
• Exxon Mobil's latest earnings report revealed $1.64 earnings per share, surpassing analysts' estimates, despite a 12.4% year-over-year revenue decline to $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, with a dividend yield of 3.7%, scheduled for payment on September 10th.

State of New Jersey Common Pension Fund D reduced its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,488,140 shares of the oil and gas company's stock after selling 152,977 shares during the period. Exxon Mobil accounts for approximately 0.8% of State of New Jersey Common Pension Fund D's holdings, making the stock its 18th biggest position. State of New Jersey Common Pension Fund D's holdings in Exxon Mobil were worth $176,984,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. 10Elms LLP acquired a new position in Exxon Mobil during the 4th quarter valued at $25,000. Graybill Wealth Management LTD. acquired a new position in shares of Exxon Mobil in the 1st quarter valued at $29,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after buying an additional 238 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in shares of Exxon Mobil in the 4th quarter valued at $32,000. Finally, Cloud Capital Management LLC acquired a new position in shares of Exxon Mobil in the 1st quarter valued at $45,000. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $107.48 on Friday. The company has a market capitalization of $458.23 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 2.02 and a beta of 0.53. The firm's 50 day simple moving average is $110.21 and its 200 day simple moving average is $108.89. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34.

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. The business had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Exxon Mobil's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period last year, the company posted $2.14 EPS. As a group, sell-side analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Cowen increased 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 reaffirmed an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. Piper Sandler upped their target price on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Barclays reissued a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $125.26.

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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