Zurich Insurance Group Ltd FI Lowers Position in Exxon Mobil Co. (NYSE:XOM)

Zurich Insurance Group Ltd FI lowered its holdings in Exxon Mobil Co. (NYSE:XOM - Free Report) by 42.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 612,919 shares of the oil and gas company's stock after selling 454,315 shares during the period. Zurich Insurance Group Ltd FI's holdings in Exxon Mobil were worth $65,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in shares of Exxon Mobil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock valued at $10,023,875,000 after acquiring an additional 1,104,617 shares in the last quarter. Norges Bank purchased a new position in shares of Exxon Mobil during the 4th quarter valued at about $6,936,737,000. Northern Trust Corp raised its holdings in shares of Exxon Mobil by 7.0% during the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock valued at $4,950,087,000 after buying an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Exxon Mobil by 14.4% during the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company's stock valued at $4,731,263,000 after buying an additional 5,538,694 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock valued at $3,836,226,000 after buying an additional 4,140,046 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Exxon Mobil Price Performance

Shares of XOM stock opened at $106.40 on Tuesday. The firm has a market cap of $458.55 billion, a P/E ratio of 13.57, a P/E/G ratio of 3.02 and a beta of 0.51. Exxon Mobil Co. has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The business's 50 day moving average price is $108.92 and its 200-day moving average price is $110.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business's quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company earned $2.06 EPS. On average, equities research analysts anticipate that Exxon Mobil Co. 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 Tuesday, June 10th. Investors of record on Thursday, May 15th will be given a dividend of $0.99 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.72%. Exxon Mobil's dividend payout ratio is presently 52.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Exxon Mobil from $136.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Barclays decreased their price objective on Exxon Mobil from $130.00 to $127.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Bernstein Bank raised their price objective on Exxon Mobil from $138.00 to $144.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group decreased their price objective on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler decreased their price objective on Exxon Mobil from $127.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil has an average rating of "Moderate Buy" and a consensus target price of $125.50.

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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