Sumitomo Mitsui Trust Holdings Inc. Trims Stake in Exxon Mobil Co. (NYSE:XOM)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,827,329 shares of the oil and gas company’s stock after selling 55,618 shares during the quarter. Exxon Mobil comprises about 0.9% of Sumitomo Mitsui Trust Holdings Inc.’s holdings, making the stock its 14th largest position. Sumitomo Mitsui Trust Holdings Inc. owned 0.27% of Exxon Mobil worth $1,258,569,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter worth about $46,000. Vima LLC purchased a new position in Exxon Mobil during the fourth quarter worth about $50,000. Orion Capital Management LLC bought a new stake in Exxon Mobil during the third quarter worth about $91,000. Keener Financial Planning LLC bought a new stake in Exxon Mobil during the fourth quarter worth about $80,000. Finally, Neo Ivy Capital Management bought a new stake in Exxon Mobil during the fourth quarter worth about $80,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Trading Up 0.6 %

XOM opened at $114.81 on Thursday. The business has a 50 day simple moving average of $115.00 and a two-hundred day simple moving average of $109.91. The firm has a market capitalization of $452.70 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 4.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $123.75.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The business had revenue of $83.08 billion for the quarter, compared to the consensus estimate of $79.69 billion. During the same period in the previous year, the company earned $2.83 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts predict that Exxon Mobil Co. will post 9.28 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.95 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.31%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on XOM shares. Mizuho lifted their price target on Exxon Mobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Piper Sandler lifted their price target on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. UBS Group lifted their price target on Exxon Mobil from $152.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Wells Fargo & Company lifted their price target on Exxon Mobil from $138.00 to $142.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Finally, Truist Financial reaffirmed a “hold” rating and set a $124.00 price target (down previously from $146.00) on shares of Exxon Mobil in a research note on Friday, June 7th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average price target of $133.82.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $119.01, for a total value of $288,718.26. Following the sale, the vice president now owns 25,363 shares in the company, valued at approximately $3,018,450.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

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.