Pzena Investment Management LLC decreased its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 17.1% during the 1st quarter, HoldingsChannel reports. The fund owned 4,509,751 shares of the oil and gas company’s stock after selling 927,706 shares during the quarter. Exxon Mobil comprises approximately 1.4% of Pzena Investment Management LLC’s portfolio, making the stock its 24th biggest holding. Pzena Investment Management LLC’s holdings in Exxon Mobil were worth $372,460,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Qube Research & Technologies Ltd purchased a new stake in Exxon Mobil in the fourth quarter valued at $35,101,000. AGF Investments LLC increased its position in shares of Exxon Mobil by 1,012.1% during the 4th quarter. AGF Investments LLC now owns 6,239 shares of the oil and gas company’s stock worth $382,000 after purchasing an additional 5,678 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Exxon Mobil by 1.8% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 37,419 shares of the oil and gas company’s stock valued at $2,290,000 after buying an additional 652 shares during the period. Sterling Financial Planning Inc. lifted its position in Exxon Mobil by 4.3% in the fourth quarter. Sterling Financial Planning Inc. now owns 9,768 shares of the oil and gas company’s stock valued at $598,000 after buying an additional 402 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Exxon Mobil by 10.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 160,129 shares of the oil and gas company’s stock worth $9,798,000 after buying an additional 14,952 shares during the period. 54.07% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Exxon Mobil
In other Exxon Mobil news, VP Darrin L. Talley sold 2,147 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $102.81, for a total value of $220,733.07. Following the completion of the transaction, the vice president now owns 30,363 shares in the company, valued at $3,121,620.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Exxon Mobil news, VP Darrin L. Talley sold 2,147 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $102.81, for a total value of $220,733.07. Following the completion of the transaction, the vice president now owns 30,363 shares in the company, valued at $3,121,620.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $96.65, for a total transaction of $241,625.00. Following the completion of the transaction, the vice president now owns 32,510 shares of the company’s stock, valued at approximately $3,142,091.50. The disclosure for this sale can be found here. Insiders sold 7,147 shares of company stock worth $698,858 over the last 90 days. Corporate insiders own 0.04% of the company’s stock.
Exxon Mobil Stock Performance
Exxon Mobil (NYSE:XOM – Get 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 during the quarter, compared to the consensus estimate of $111.67 billion. Exxon Mobil had a net margin of 10.67% and a return on equity of 23.82%. The company’s revenue was up 70.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Sell-side analysts predict that Exxon Mobil Co. will post 12.24 earnings per share for the current fiscal year.
Exxon Mobil Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Friday, August 12th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.04%. Exxon Mobil’s payout ratio is currently 38.51%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. Cowen boosted their price target on shares of Exxon Mobil from $77.00 to $90.00 in a research note on Monday, May 2nd. Bank of America raised their price target on Exxon Mobil from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com downgraded Exxon Mobil from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Truist Financial lowered their target price on Exxon Mobil from $86.00 to $83.00 and set a “hold” rating for the company in a report on Tuesday, July 19th. Finally, Credit Suisse Group upgraded shares of Exxon Mobil from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $115.00 to $125.00 in a research note on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has an average rating of “Hold” and an average price target of $96.40.
Exxon Mobil Profile
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.
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