Voleon Capital Management LP Reduces Holdings in Exxon Mobil Corporation $XOM

Key Points

• Voleon Capital Management LP reduced its stake in Exxon Mobil Corporation by 49.6% in the first quarter, holding 30,741 shares valued at approximately $3.66 million after selling 30,288 shares.
• Other institutional investors also adjusted their positions, with Bank of New York Mellon Corp increasing its holdings by 3.0%, now owning over $5.39 billion worth of Exxon Mobil shares.
• Exxon Mobil reported $1.64 EPS for the last quarter, exceeding expectations, while also declaring a quarterly dividend of $0.99 per share with a yield of 3.6%.

Voleon Capital Management LP cut its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 49.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,741 shares of the oil and gas company's stock after selling 30,288 shares during the period. Voleon Capital Management LP's holdings in Exxon Mobil were worth $3,656,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Axis Wealth Partners LLC grew its stake in Exxon Mobil by 1.9% in the 1st quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company's stock valued at $591,000 after acquiring an additional 93 shares during the last quarter. Gagnon Securities LLC boosted its stake in shares of Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company's stock valued at $860,000 after acquiring an additional 95 shares during the last quarter. Ascent Capital Management LLC boosted its stake in shares of Exxon Mobil by 2.0% during the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company's stock valued at $584,000 after acquiring an additional 96 shares during the last quarter. DDD Partners LLC boosted its stake in shares of Exxon Mobil by 1.4% during the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company's stock valued at $810,000 after acquiring an additional 96 shares during the last quarter. Finally, Waypoint Wealth Partners Inc. boosted its stake in shares of Exxon Mobil by 2.1% during the 1st quarter. Waypoint Wealth Partners Inc. now owns 4,672 shares of the oil and gas company's stock worth $556,000 after purchasing an additional 96 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the sale, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. This trade represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Melius assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target on the stock. Mizuho decreased their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. TD Cowen raised their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $125.00.

Exxon Mobil Trading Up 0.7%

Shares of Exxon Mobil stock traded up $0.74 during trading hours on Monday, reaching $109.97. The stock had a trading volume of 15,437,960 shares, compared to its average volume of 14,212,491. The firm has a 50 day simple moving average of $110.49 and a two-hundred day simple moving average of $109.09. The firm has a market capitalization of $468.82 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 2.04 and a beta of 0.57. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. 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 EPS for the quarter, beating the consensus estimate of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same quarter last year, the firm posted $2.14 earnings per share. Exxon Mobil's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) 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.