Pzena Investment Management LLC Lowers Stake in Exxon Mobil Co. (NYSE:XOM)

Pzena Investment Management LLC lessened its stake in Exxon Mobil Co. (NYSE:XOMGet Rating) by 17.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,509,751 shares of the oil and gas company’s stock after selling 927,706 shares during the period. Exxon Mobil accounts for about 1.4% of Pzena Investment Management LLC’s portfolio, making the stock its 24th largest position. Pzena Investment Management LLC owned 0.11% of Exxon Mobil worth $372,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Exxon Mobil by 0.4% during the fourth quarter. State Street Corp now owns 253,211,345 shares of the oil and gas company’s stock valued at $15,494,002,000 after buying an additional 1,128,974 shares during the period. Geode Capital Management LLC increased its holdings in Exxon Mobil by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 70,815,006 shares of the oil and gas company’s stock valued at $4,322,078,000 after buying an additional 3,441,825 shares during the period. Norges Bank bought a new position in Exxon Mobil in the fourth quarter worth approximately $3,184,424,000. GQG Partners LLC boosted its position in Exxon Mobil by 21.8% during the 4th quarter. GQG Partners LLC now owns 32,397,153 shares of the oil and gas company’s stock valued at $1,982,114,000 after acquiring an additional 5,807,202 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Exxon Mobil by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,619,880 shares of the oil and gas company’s stock worth $1,873,632,000 after acquiring an additional 164,733 shares in the last quarter. 54.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $94.60, for a total transaction of $236,500.00. Following the transaction, the vice president now owns 27,863 shares in the company, valued at $2,635,839.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Exxon Mobil news, VP Darrin L. Talley sold 2,147 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $102.81, for a total transaction of $220,733.07. Following the completion of the sale, the vice president now directly owns 30,363 shares in the company, valued at approximately $3,121,620.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $94.60, for a total value of $236,500.00. Following the completion of the transaction, the vice president now owns 27,863 shares in the company, valued at approximately $2,635,839.80. The disclosure for this sale can be found here. Insiders have sold a total of 7,147 shares of company stock valued at $698,858 in the last ninety days. 0.04% of the stock is currently owned by corporate insiders.

Exxon Mobil Price Performance

NYSE:XOM opened at $87.19 on Friday. The firm’s fifty day moving average is $91.11 and its two-hundred day moving average is $85.81. The firm has a market cap of $367.29 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.16. Exxon Mobil Co. has a one year low of $52.10 and a one year high of $105.57.

Exxon Mobil (NYSE:XOMGet Rating) last issued its earnings results on Friday, July 29th. The oil and gas company reported $4.14 EPS for the quarter, topping analysts’ consensus estimates of $3.74 by $0.40. The firm had revenue of $115.68 billion for the quarter, compared to the consensus estimate of $111.67 billion. Exxon Mobil had a return on equity of 23.82% and a net margin of 10.67%. The company’s revenue was up 70.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. Research analysts expect that Exxon Mobil Co. will post 12.24 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 12th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, August 11th. Exxon Mobil’s dividend payout ratio (DPR) is presently 38.51%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on XOM shares. The Goldman Sachs Group raised their price objective on Exxon Mobil from $104.00 to $117.00 and gave the company a “buy” rating in a research report on Wednesday, June 8th. StockNews.com cut shares of Exxon Mobil from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Royal Bank of Canada raised shares of Exxon Mobil from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $90.00 to $100.00 in a report on Thursday, April 21st. Morgan Stanley decreased their price objective on Exxon Mobil from $107.00 to $106.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Finally, Citigroup boosted their target price on Exxon Mobil from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, May 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of “Hold” and an average target price of $96.40.

About Exxon Mobil

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Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.

See Also

Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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