Strs Ohio Sells 92,801 Shares of ExxonMobil Corporation $XOM

Key Points

• Strs Ohio reduced its ExxonMobil stake by 4.4% in the first quarter, selling 92,801 shares and leaving it with about 1.997 million shares valued at $338.9 million.
• ExxonMobil shares rose 3.2% to $140.78, with the company carrying a market cap of $583.5 billion and a low-beta profile of 0.17.
• The company beat quarterly expectations, reporting $1.16 EPS versus $0.98 expected and $83.16 billion in revenue, while also paying a quarterly dividend of $1.03 per share for a 2.9% annual yield.

Strs Ohio cut its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,997,275 shares of the oil and gas company's stock after selling 92,801 shares during the period. ExxonMobil comprises approximately 1.3% of Strs Ohio's holdings, making the stock its 9th largest holding. Strs Ohio's holdings in ExxonMobil were worth $338,858,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of ExxonMobil during the fourth quarter worth approximately $7,625,063,000. Franklin Resources Inc. lifted its holdings in ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company's stock valued at $4,366,655,000 after buying an additional 2,660,910 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in ExxonMobil by 218.4% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company's stock valued at $155,696,000 after acquiring an additional 2,546,791 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ExxonMobil by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company's stock worth $1,925,119,000 after acquiring an additional 2,465,410 shares during the period. Finally, Van ECK Associates Corp grew its holdings in ExxonMobil by 334.4% during the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock worth $368,541,000 after acquiring an additional 2,357,467 shares during the period. Institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Up 3.2%

XOM traded up $4.33 during trading on Tuesday, reaching $140.78. The company had a trading volume of 1,441,138 shares, compared to its average volume of 20,213,465. The company has a market cap of $583.51 billion, a P/E ratio of 23.70, a PEG ratio of 0.58 and a beta of 0.17. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The business's fifty day moving average price is $147.37 and its 200 day moving average price is $144.79.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.76 earnings per share. Equities analysts anticipate that ExxonMobil Corporation will post 11.9 EPS for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, May 15th. ExxonMobil's dividend payout ratio is 69.48%.

Analyst Ratings Changes

Several research firms have recently issued reports on XOM. Morgan Stanley reduced their price target on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a research report on Monday, June 29th. Barclays upped their price objective on ExxonMobil from $163.00 to $182.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised their target price on ExxonMobil from $140.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Bank of America upgraded ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 target price for the company in a research report on Tuesday, June 16th. Finally, Sanford C. Bernstein cut their price target on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $164.70.

ExxonMobil Profile

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

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