Sumitomo Mitsui Trust Group Inc. Sells 296,543 Shares of ExxonMobil Corporation $XOM

Key Points

• Sumitomo Mitsui Trust Group reduced its ExxonMobil stake by 3.3%, selling 296,543 shares and retaining 8.78 million shares worth approximately $1.43 billion. Institutional investors collectively own about 61.8% of ExxonMobil.
• ExxonMobil reported quarterly revenue of $110.5 billion and earnings per share of $4.23, exceeding analyst expectations. The stock traded near its 52-week high, with a market capitalization of roughly $775 billion.
• ExxonMobil raised its quarterly dividend from $1.03 to $1.07 per share, implying an annualized payout of $4.28 and a yield of about 2.3%. Analysts maintain a “Moderate Buy” consensus, with an average price target of $167.70.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,782,979 shares of the oil and gas company's stock after selling 296,543 shares during the quarter. ExxonMobil accounts for about 0.8% of Sumitomo Mitsui Trust Group Inc.'s holdings, making the stock its 17th biggest holding. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of ExxonMobil worth $1,429,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ExxonMobil in the 3rd quarter worth $201,518,000. Aviance Capital Partners LLC raised its position in ExxonMobil by 1.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 70,400 shares of the oil and gas company's stock worth $11,458,000 after purchasing an additional 795 shares during the period. SFE Investment Counsel bought a new stake in shares of ExxonMobil in the 3rd quarter valued at about $264,000. Stevens Capital Partners lifted its position in ExxonMobil by 46.0% in the third quarter. Stevens Capital Partners now owns 3,341 shares of the oil and gas company's stock valued at $544,000 after purchasing an additional 1,053 shares during the last quarter. Finally, Vise Technologies Inc. boosted its position in ExxonMobil by 15.6% during the 3rd quarter. Vise Technologies Inc. now owns 363,521 shares of the oil and gas company's stock valued at $59,163,000 after buying an additional 48,983 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Price Performance

NYSE XOM opened at $187.03 on Monday. The business's fifty day moving average is $167.76 and its 200 day moving average is $154.35. The company has a market capitalization of $775.23 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.94 and a beta of 0.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19. ExxonMobil Corporation has a fifty-two week low of $112.51 and a fifty-two week high of $188.50.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $4.12 by $0.11. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. The business had revenue of $110.50 billion for the quarter, compared to the consensus estimate of $104.89 billion. During the same period in the previous year, the business earned $1.88 earnings per share. Sell-side analysts predict that ExxonMobil Corporation will post 13.58 earnings per share for the current year.

ExxonMobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 16th will be issued a dividend of $1.07 per share. This is a positive change from ExxonMobil's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.3%. ExxonMobil's payout ratio is currently 42.34%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XOM. Wells Fargo & Company downgraded shares of ExxonMobil from an "overweight" rating to an "equal weight" rating and set a $182.00 price objective on the stock. in a research report on Thursday, October 1st. Weiss Ratings raised shares of ExxonMobil from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, September 29th. HSBC reiterated a "hold" rating and set a $90.00 price target on shares of ExxonMobil in a research report on Friday, September 25th. The Goldman Sachs Group reissued a "neutral" rating and issued a $178.00 target price on shares of ExxonMobil in a research report on Tuesday, October 20th. Finally, Argus boosted their price objective on shares of ExxonMobil from $169.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $167.70.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Strong Q3 earnings supported the rally. ExxonMobil generated approximately $15.4 billion in GAAP net income, or $3.72 in basic earnings per share, on $110.5 billion of revenue. Results exceeded expectations, with refining margins providing the main boost. ExxonMobil Q3 earnings article
• Positive Sentiment: Dividend growth reinforces ExxonMobil’s income appeal. The company raised its quarterly dividend 3.9% to $1.07 per share, equivalent to $4.28 annually and a yield of roughly 2.3%. The increase reportedly marks the 44th consecutive annual dividend increase. ExxonMobil Q3 earnings takeaways
• Positive Sentiment: Cash generation and capital returns remain strong. Free cash flow reportedly surged 90% year to date. ExxonMobil spent $5.1 billion on share repurchases during the quarter, more than its $4.3 billion in dividend payments, and reduced net debt by nearly $11 billion during the first nine months. ExxonMobil dividend and free cash flow article
• Positive Sentiment: Analysts and financial commentators continue to describe XOM as a blue-chip energy holding, citing its low beta, scale and diversified upstream portfolio. Elevated geopolitical tensions have also supported oil-company profits and investor interest in the sector. ExxonMobil blue-chip energy investment article
• Neutral Sentiment: Heavy trading in ExxonMobil call options and a reported 2.3% increase in Childress Capital Advisors’ stake suggest bullish positioning, but neither necessarily reflects long-term fundamental demand.
• Negative Sentiment: Investors should watch earnings quality and valuation. Upstream earnings declined, refining margins drove much of the quarterly beat, and some reports characterized sales as below analyst estimates. With shares near their 52-week high, future gains may depend on sustained commodity prices and refining strength. ExxonMobil refining profits article

ExxonMobil Company Profile

Exxon Mobil Corporation, doing business as ExxonMobil NYSE: XOM, is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.