OVERSEA CHINESE BANKING Corp Ltd Lowers Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 42.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,428 shares of the oil and gas company’s stock after selling 6,857 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Exxon Mobil were worth $1,090,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of XOM. GAMMA Investing LLC lifted its stake in shares of Exxon Mobil by 14,242.7% during the 1st quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company’s stock valued at $1,124,787,000 after buying an additional 9,391,614 shares in the last quarter. Northern Trust Corp lifted its stake 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. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Exxon Mobil during the 4th quarter valued at $240,653,000. Massachusetts Financial Services Co. MA increased its holdings in Exxon Mobil by 8.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,256,504 shares of the oil and gas company’s stock valued at $2,409,106,000 after acquiring an additional 1,550,248 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Exxon Mobil by 291.5% in the 4th quarter. Federated Hermes Inc. now owns 2,023,359 shares of the oil and gas company’s stock valued at $217,653,000 after acquiring an additional 1,506,600 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on XOM. Piper Sandler lifted their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Mizuho reduced their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Barclays reaffirmed a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a research note on Friday, July 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Exxon Mobil in a research note on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $125.42.

Exxon Mobil Stock Down 1.8%

Shares of Exxon Mobil stock opened at $109.61 on Friday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The company has a 50 day moving average of $109.48 and a 200 day moving average of $109.13. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $472.38 billion, a P/E ratio of 15.57, a P/E/G ratio of 2.06 and a beta of 0.53.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to analysts’ expectations of $79.07 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The company’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. As a group, research analysts forecast that Exxon Mobil Corporation will post 7.43 EPS 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 dividend yield of 3.6%. Exxon Mobil’s dividend payout ratio is presently 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.