Vanguard Group Inc. Sells 1,405,220 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Vanguard Group Inc. reduced its stake in Exxon Mobil Corporation by selling 1,405,220 shares, now holding 429,947,644 shares, which constitutes 0.9% of its portfolio.
• Analysts currently have a consensus rating of "Hold" for Exxon Mobil with an average price target of $125.26, reflecting a range of views with some upgrades and downgrades in recent reports.
• Exxon Mobil's latest quarterly earnings report showed a beat in EPS at $1.64 compared to expectations of $1.47, although revenue decreased by 12.4% year-over-year.

Vanguard Group Inc. trimmed its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429,947,644 shares of the oil and gas company's stock after selling 1,405,220 shares during the period. Exxon Mobil accounts for 0.9% of Vanguard Group Inc.'s portfolio, making the stock its 14th largest position. Vanguard Group Inc. owned 9.94% of Exxon Mobil worth $51,133,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. 10Elms LLP purchased a new stake in Exxon Mobil during the 4th quarter valued at about $25,000. Graybill Wealth Management LTD. purchased a new stake in Exxon Mobil during the 1st quarter valued at about $29,000. Capital A Wealth Management LLC purchased a new stake in Exxon Mobil during the 4th quarter valued at about $32,000. Cloud Capital Management LLC purchased a new stake in Exxon Mobil during the 1st quarter valued at about $45,000. Finally, Clarity Asset Management Inc. grew its stake in Exxon Mobil by 29.7% during the 4th quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after purchasing an additional 100 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on XOM. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Morgan Stanley upped their target price on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday. Piper Sandler upped their price target on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $125.26.

Exxon Mobil Price Performance

XOM stock opened at $107.15 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The business has a 50 day simple moving average of $109.64 and a 200-day simple moving average of $109.07. The firm has a market capitalization of $461.78 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The business's revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 earnings per share. Equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.99 dividend. 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 is presently 56.25%.

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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