Parthenon LLC Reduces Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Parthenon LLC cut its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 187,145 shares of the oil and gas company’s stock after selling 768 shares during the period. Exxon Mobil comprises about 2.7% of Parthenon LLC’s holdings, making the stock its 9th biggest position. Parthenon LLC’s holdings in Exxon Mobil were worth $21,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of XOM. Vanguard Group Inc. boosted its stake in Exxon Mobil by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after acquiring an additional 1,269,495 shares during the last quarter. Norges Bank purchased a new position in Exxon Mobil in the fourth quarter valued at approximately $5,519,753,000. Price T Rowe Associates Inc. MD increased its position in Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after buying an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after buying an additional 4,080,716 shares during the period. Finally, Capital International Investors lifted its position in shares of Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the topic of a number of research reports. Barclays lowered their price objective on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Truist Financial dropped their price target on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company reduced their price objective on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. UBS Group boosted their target price on shares of Exxon Mobil from $156.00 to $157.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Wolfe Research assumed coverage on Exxon Mobil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price target for the company. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $136.29.

Exxon Mobil Trading Down 0.1 %

Shares of Exxon Mobil stock opened at $111.15 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75. The firm has a market cap of $438.27 billion, a PE ratio of 13.62, a PEG ratio of 4.38 and a beta of 0.90. The company has a 50 day simple moving average of $115.66 and a two-hundred day simple moving average of $115.06.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts expect that Exxon Mobil Co. will post 8.36 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a dividend of $0.95 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.42%. Exxon Mobil’s dividend payout ratio is 46.57%.

Exxon Mobil Company 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.