Nexus Investment Management ULC Cuts Holdings in Exxon Mobil Co. (NYSE:XOM)

Nexus Investment Management ULC decreased its position in Exxon Mobil Co. (NYSE:XOM) by 8.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,855 shares of the oil and gas company’s stock after selling 1,000 shares during the period. Nexus Investment Management ULC’s holdings in Exxon Mobil were worth $1,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. Moneta Group Investment Advisors LLC increased its holdings in Exxon Mobil by 140,855.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company’s stock valued at $13,604,575,000 after buying an additional 123,254,064 shares in the last quarter. Norges Bank acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at about $5,226,390,000. Price T Rowe Associates Inc. MD grew its position in shares of Exxon Mobil by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 47,592,122 shares of the oil and gas company’s stock valued at $5,218,954,000 after purchasing an additional 6,580,247 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Exxon Mobil by 188.6% in the first quarter. Envestnet Asset Management Inc. now owns 8,740,551 shares of the oil and gas company’s stock valued at $327,573,000 after purchasing an additional 5,711,599 shares during the period. Finally, Morgan Stanley grew its position in shares of Exxon Mobil by 11.9% in the fourth quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock valued at $5,788,398,000 after purchasing an additional 5,566,797 shares during the period. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Insider Buying and Selling

In other Exxon Mobil news, Director Jeffrey W. Ubben bought 458,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were purchased at an average cost of $106.93 per share, with a total value of $48,973,940.00. Following the purchase, the director now directly owns 1,635,000 shares in the company, valued at $174,830,550. The acquisition 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 1,500 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $115.00, for a total value of $172,500.00. Following the sale, the vice president now directly owns 27,772 shares of the company’s stock, valued at approximately $3,193,780. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jeffrey W. Ubben acquired 458,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was purchased at an average cost of $106.93 per share, for a total transaction of $48,973,940.00. Following the completion of the transaction, the director now owns 1,635,000 shares in the company, valued at approximately $174,830,550. The disclosure for this purchase can be found here. 0.06% of the stock is owned by insiders.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $116.72 on Friday. The company’s 50 day simple moving average is $108.38 and its 200-day simple moving average is $108.47. The company has a market capitalization of $467.25 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.08. Exxon Mobil Co. has a 1 year low of $83.89 and a 1 year high of $119.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.48.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, July 28th. The oil and gas company reported $1.94 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.06). Exxon Mobil had a return on equity of 25.82% and a net margin of 13.72%. The business had revenue of $82.91 billion for the quarter, compared to analysts’ expectations of $81.80 billion. During the same period in the previous year, the company earned $4.14 earnings per share. Exxon Mobil’s quarterly revenue was down 28.3% on a year-over-year basis. As a group, equities research analysts expect that Exxon Mobil Co. will post 8.94 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Tuesday, August 15th. Exxon Mobil’s payout ratio is currently 29.12%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Mizuho lifted their target price on shares of Exxon Mobil from $130.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. HSBC lifted their target price on shares of Exxon Mobil from $110.00 to $116.00 in a research report on Wednesday, August 9th. Truist Financial lowered their price target on shares of Exxon Mobil from $118.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, July 24th. Wolfe Research lowered shares of Exxon Mobil from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. Finally, UBS Group boosted their price target on shares of Exxon Mobil from $135.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Eleven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.43.

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.