Investment Management Corp of Ontario Trims Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Investment Management Corp of Ontario cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 24.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 211,489 shares of the oil and gas company’s stock after selling 67,565 shares during the quarter. Exxon Mobil makes up approximately 0.8% of Investment Management Corp of Ontario’s holdings, making the stock its 23rd largest holding. Investment Management Corp of Ontario’s holdings in Exxon Mobil were worth $22,750,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in XOM. Geode Capital Management LLC raised its holdings in Exxon Mobil by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after acquiring an additional 1,104,617 shares in the last quarter. Norges Bank bought a new stake in shares of Exxon Mobil in the 4th quarter worth about $6,936,737,000. Northern Trust Corp lifted its position in shares of Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after purchasing an additional 2,998,892 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Exxon Mobil by 14.4% in the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock worth $4,731,263,000 after purchasing an additional 5,538,694 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock valued at $3,836,226,000 after buying an additional 4,140,046 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on XOM. Argus upgraded Exxon Mobil to a “strong-buy” rating in a research report on Tuesday, February 4th. Truist Financial lifted their price objective on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a report on Monday, January 13th. The Goldman Sachs Group reduced their price target on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Scotiabank decreased their price target on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Finally, Bernstein Bank increased their price objective on shares of Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.85.

Exxon Mobil Trading Up 1.2 %

Exxon Mobil stock opened at $107.38 on Friday. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The stock has a market capitalization of $464.45 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 3.02 and a beta of 0.51. The firm has a 50 day simple moving average of $108.97 and a 200-day simple moving average of $111.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. The firm had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $2.06 EPS. As a group, equities research analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.69%. The ex-dividend date is Thursday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 52.52%.

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.