Wellington Management Group LLP Trims Holdings in Exxon Mobil Corporation $XOM

Key Points

• Wellington Management Group LLP has reduced its stake in Exxon Mobil by 5.4%, now owning approximately 0.66% of the company, valued at around $3.37 billion.
• Several hedge funds increased their stakes in Exxon Mobil, with Quantinno Capital Management LP raising its investment by 24.1% in the last quarter.
• Exxon Mobil reported a quarterly earnings per share of $1.64, surpassing analysts' estimates and announcing a dividend of $0.99 per share, reflecting a yield of 3.7%.

Wellington Management Group LLP trimmed its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 5.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,295,926 shares of the oil and gas company's stock after selling 1,611,021 shares during the quarter. Wellington Management Group LLP owned approximately 0.66% of Exxon Mobil worth $3,365,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its stake in Exxon Mobil by 24.1% in the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after purchasing an additional 110,772 shares during the period. Accredited Wealth Management LLC bought a new position in shares of Exxon Mobil during the 4th quarter valued at approximately $55,000. Journey Strategic Wealth LLC boosted its position in shares of Exxon Mobil by 6.7% during the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after acquiring an additional 1,379 shares during the last quarter. Legacy Trust boosted its position in shares of Exxon Mobil by 12.7% during the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after acquiring an additional 997 shares during the last quarter. Finally, Hartford Funds Management Co LLC boosted its position in shares of Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after acquiring an additional 2,617 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen downgraded Exxon Mobil from a "hold" rating to a "sell" rating in a research report on Saturday. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the company an "overweight" rating in a research report on Thursday, June 26th. Morgan Stanley increased their target price on Exxon Mobil from $134.00 to $135.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Piper Sandler increased their target price on Exxon Mobil from $131.00 to $134.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a research report on Friday, July 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Exxon Mobil presently has a consensus rating of "Hold" and an average target price of $125.26.

Exxon Mobil Stock Performance

XOM stock opened at $106.54 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The business's fifty day simple moving average is $110.25 and its two-hundred day simple moving average is $108.88. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The firm has a market cap of $454.21 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.00 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The business 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. The business's revenue was down 12.4% compared to the same quarter last year. Analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.99 per share. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.7%. Exxon Mobil's dividend payout ratio (DPR) is currently 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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