Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 9.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,541 shares of the oil and gas company’s stock after selling 13,148 shares during the quarter. Exxon Mobil accounts for about 1.1% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, making the stock its 14th largest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Exxon Mobil were worth $15,419,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Exxon Mobil by 6.3% during 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 acquiring an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Exxon Mobil by 11.3% during 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 last quarter. Dimensional Fund Advisors LP increased its stake in shares of Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after buying an additional 5,330,887 shares during the period. Legal & General Group Plc raised its position in Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares during the last quarter. Finally, Capital International Investors raised its holdings in Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

XOM has been the topic of a number of analyst reports. TD Cowen dropped their price target on Exxon Mobil from $130.00 to $127.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Truist Financial reduced their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Redburn Atlantic reissued a “neutral” rating and issued a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Wells Fargo & Company increased their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets raised their price target on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Trading Down 1.0 %

Shares of Exxon Mobil stock opened at $119.35 on Friday. The business’s fifty day moving average is $118.49 and its two-hundred day moving average is $116.40. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The firm has a market cap of $524.56 billion, a PE ratio of 14.86, a P/E/G ratio of 5.09 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.91 by $0.01. The firm had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.27 earnings per share. Analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.32%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is currently 47.32%.

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.