Korea Investment CORP Reduces Stake in Exxon Mobil Corporation $XOM

by · The Cerbat Gem

Korea Investment CORP decreased its stake in shares of Exxon Mobil Corporation (NYSE:XOM – Free Report) by 3.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,269,809 shares of the oil and gas company’s stock after selling 128,238 shares during the period. Exxon Mobil accounts for 0.9% of Korea Investment CORP’s investment portfolio, making the stock its 15th largest position. Korea Investment CORP’s holdings in Exxon Mobil were worth $388,878,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Exxon Mobil by 7.0% in the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Exxon Mobil by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock valued at $5,390,318,000 after acquiring an additional 1,340,343 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Exxon Mobil by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after acquiring an additional 512,860 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Exxon Mobil by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock valued at $3,028,968,000 after acquiring an additional 909,386 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Exxon Mobil in the 1st quarter valued at about $2,730,414,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM stock opened at $106.54 on Monday. The firm has a market cap of $454.21 billion, a P/E ratio of 15.13, a P/E/G ratio of 2.00 and a beta of 0.53. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The business’s 50 day moving average price is $110.25 and its 200-day moving average price is $108.88. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25.

Exxon Mobil (NYSE:XOM – Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The business’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company earned $2.14 EPS. On average, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 56.25%.

Analysts Set New Price Targets

Several research firms have weighed in on XOM. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the company an “overweight” rating in a report on Thursday, June 26th. Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a report on Friday, July 11th. Barclays reissued a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Finally, Mizuho decreased their price objective on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $125.26.

View Our Latest Analysis on XOM

Exxon Mobil Profile

(Free Report)

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.

Further Reading

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