University of Texas Texas AM Investment Management Co. Lowers Position in Exxon Mobil Corporation (NYSE:XOM)

Key Points

• The University of Texas Texas AM Investment Management Co. significantly reduced its stake in Exxon Mobil by 95.9%, selling 34,723 shares and holding only 1,503 shares at the end of the first quarter.
• Exxon Mobil's recent financial performance included earnings of $1.76 per share, which outperformed analysts' estimates, alongside a revenue of $83.13 billion for the quarter.
• The company announced a quarterly dividend of $0.99 per share, representing a dividend yield of 3.59% and a payout ratio of 52.52%.

University of Texas Texas AM Investment Management Co. decreased its holdings in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 95.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,503 shares of the oil and gas company's stock after selling 34,723 shares during the period. University of Texas Texas AM Investment Management Co.'s holdings in Exxon Mobil were worth $179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 10Elms LLP bought a new position in shares of Exxon Mobil in the 4th quarter worth $25,000. Graybill Wealth Management LTD. bought a new position in shares of Exxon Mobil in the first quarter valued at $29,000. Capital A Wealth Management LLC acquired a new stake in shares of Exxon Mobil in the 4th quarter worth about $32,000. Cloud Capital Management LLC acquired a new stake in shares of Exxon Mobil in the 1st quarter worth about $45,000. Finally, Clarity Asset Management Inc. raised its position in Exxon Mobil by 29.7% in the 4th quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after buying an additional 100 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

XOM has been the subject of a number of analyst reports. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a report on Friday, July 11th. 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. UBS Group cut their price objective on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Mizuho decreased their target price on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. 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 two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $125.42.

Exxon Mobil Trading Down 0.0%

XOM stock traded down $0.02 during trading on Thursday, hitting $111.88. 6,608,515 shares of the company traded hands, compared to its average volume of 16,737,875. The firm has a market capitalization of $482.15 billion, a PE ratio of 14.84, a P/E/G ratio of 2.12 and a beta of 0.50. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24. The company has a 50-day moving average of $109.17 and a 200-day moving average of $109.13.

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

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date was Thursday, May 15th. Exxon Mobil's payout ratio is 52.52%.

Exxon Mobil 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.