Exxon Mobil Corporation $XOM Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board reduced its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 26.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,078,623 shares of the oil and gas company’s stock after selling 384,204 shares during the period. Public Sector Pension Investment Board’s holdings in Exxon Mobil were worth $116,276,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in XOM. Elequin Capital LP purchased a new position in Exxon Mobil in the first quarter valued at about $31,000. Game Plan Financial Advisors LLC grew its holdings in shares of Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 300 shares during the period. Marshall & Sullivan Inc. WA purchased a new position in Exxon Mobil in the 2nd quarter valued at approximately $38,000. Bare Financial Services Inc raised its holdings in Exxon Mobil by 121.8% during the second quarter. Bare Financial Services Inc now owns 366 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 201 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in Exxon Mobil during the first quarter worth $40,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on XOM shares. BNP Paribas raised Exxon Mobil from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Piper Sandler lifted their target price on shares of Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Citigroup upped their price target on shares of Exxon Mobil from $115.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday. Melius assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on Exxon Mobil from $156.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $129.24.

Exxon Mobil Stock Performance

Shares of XOM opened at $118.77 on Friday. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $120.81. The company’s 50 day simple moving average is $115.60 and its 200 day simple moving average is $112.22. The company has a market capitalization of $500.88 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.50 and a beta of 0.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 1.14.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. The company had revenue of $57.55 billion during the quarter. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%. On average, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio is currently 59.88%.

About Exxon Mobil

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.