Ninety One UK Ltd Reduces Exxon Mobil Co Share Position. (NYSE:XOM)

VaselineAugust 21, 2024

0 4 minutes read

Ninety One UK Ltd reduced its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 29.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,790,567 shares of the oil and gas company’s stock after selling 1,176,041 shares during the quarter. Ninety One UK Ltd owned about 0.07% of Exxon Mobil worth $321,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 buying an additional 1,269,495 shares during the last quarter. Norges Bank bought a new position in shares of Exxon Mobil in the 4th quarter valued at $5,519,753,000. Price T Rowe Associates Inc. MD boosted its holdings 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 purchasing an additional 2,676,652 shares in the last quarter. Capital International Investors boosted its stake in Exxon Mobil by 25.1% in the first 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 acquiring an additional 5,523,429 shares during the period. Finally, Capital Research Global Investors boosted its holdings in Exxon Mobil by 6.0% during the fourth quarter. Capital Research Global Investors now owns 18,388,299 shares of the oil and gas company’s stock valued at $1,838,462,000 after buying an additional 1,037,226 shares in the last quarter. 61.80% of shares are owned by hedge funds and other institutional investors.

The Wall Street analyst weighs in

A number of analysts recently commented on XOM shares. Royal Bank of Canada restated a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a research note on Tuesday, July 9th. HSBC boosted their price objective on Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Barclays cut their price target on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Finally, Sanford C. Bernstein cut their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th . Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.56, according to MarketBeat.com.

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Read our latest research report on XOM

Exxon Mobil stocks rose 0.3%

Shares of Exxon Mobil stock traded up $0.31 during midday trading on Wednesday, hitting $114.89. The company had a trading volume of 616,764 shares, compared to its average volume of 17,077,803. Exxon Mobil Co. it has a 52-week low of $95.77 and a 52-week high of $123.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06, and a current ratio of 1.38. The stock has a market cap of $453.01 billion, a P/E ratio of 14.04, a P/E/G ratio of 4.51 and a beta of 0.91. The company has a 50-day moving average of $114.85 and a 200-day moving average of $113.67.

Exxon Mobil (NYSE:XOM – Get Your Free Report ) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The firm had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s quarterly revenue was up 12.2% year over year. In the same period last year, the company posted earnings of $1.94 per share. On average, equities analysts predict that Exxon Mobil Co. will post 8.65 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.95 dividend. The ex-dividend date is Thursday, August 15. This represents an annualized dividend of $3.80 and a yield of 3.31%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Exxon Mobil Profile

(Free Report)

Exxon Mobil Corporation is engaged in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through the Upstream, Energy Products, Chemicals and Specialty Products segments. The Upstream segment explores and produces crude oil and natural gas.