Exxon Mobil Co. (NYSE:XOM) Stake Reduced by Utah Retirement Systems

Utah Retirement Systems reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 4.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 813,172 shares of the oil and gas company’s stock after selling 35,700 shares during the period. Exxon Mobil makes up about 0.6% of Utah Retirement Systems’ holdings, making the stock its 23rd largest holding. Utah Retirement Systems’ holdings in Exxon Mobil were worth $45,400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Exxon Mobil by 9.5% in the first quarter. Bank of New York Mellon Corp now owns 54,263,728 shares of the oil and gas company’s stock worth $3,029,544,000 after purchasing an additional 4,703,848 shares in the last quarter. Norges Bank bought a new position in shares of Exxon Mobil in the fourth quarter worth $1,648,683,000. Morgan Stanley grew its stake in shares of Exxon Mobil by 12.8% in the first quarter. Morgan Stanley now owns 27,506,146 shares of the oil and gas company’s stock worth $1,535,666,000 after purchasing an additional 3,114,113 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Exxon Mobil by 25.5% in the first quarter. Nuveen Asset Management LLC now owns 18,265,750 shares of the oil and gas company’s stock worth $1,019,777,000 after purchasing an additional 3,710,698 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Exxon Mobil by 23.5% in the first quarter. UBS Asset Management Americas Inc. now owns 17,769,207 shares of the oil and gas company’s stock worth $992,055,000 after purchasing an additional 3,380,503 shares in the last quarter. Hedge funds and other institutional investors own 51.38% of the company’s stock.

Exxon Mobil stock traded down $0.70 during mid-day trading on Thursday, hitting $57.06. The company’s stock had a trading volume of 238,107 shares, compared to its average volume of 20,239,602. The stock’s 50 day moving average is $60.95. The company has a current ratio of 0.80, a quick ratio of 0.50 and a debt-to-equity ratio of 0.28. Exxon Mobil Co. has a 52-week low of $31.11 and a 52-week high of $64.93.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Thursday, April 29th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. Exxon Mobil had a negative return on equity of 0.48% and a negative net margin of 10.35%. The firm had revenue of $59.15 billion during the quarter, compared to the consensus estimate of $55.36 billion. During the same period in the prior year, the business earned ($0.14) EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Exxon Mobil Co. will post 4.01 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 10th. Stockholders of record on Thursday, May 13th were paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date was Wednesday, May 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently -1,054.55%.

Several research analysts have recently issued reports on XOM shares. Truist increased their price target on Exxon Mobil from $60.00 to $64.00 in a research note on Monday, May 3rd. Morgan Stanley raised Exxon Mobil to a “strong-buy” rating and set a $72.00 target price for the company in a research note on Friday, June 18th. DZ Bank raised Exxon Mobil from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Wednesday, May 5th. Mizuho raised their target price on Exxon Mobil from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, May 17th. Finally, Wells Fargo & Company raised their target price on Exxon Mobil from $67.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, June 30th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $59.21.

Exxon Mobil Company Profile

Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.

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

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