Exxon Mobil Corporation $XOM Shares Sold by First Eagle Investment Management LLC

First Eagle Investment Management LLC reduced its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 10.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,793,152 shares of the oil and gas company’s stock after selling 913,185 shares during the quarter. Exxon Mobil makes up 1.6% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 20th largest position. First Eagle Investment Management LLC owned approximately 0.18% of Exxon Mobil worth $840,102,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Exxon Mobil by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock worth $5,023,298,000 after purchasing an additional 1,274,860 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Exxon Mobil by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock worth $3,850,167,000 after buying an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock worth $3,213,848,000 after acquiring an additional 2,639,797 shares during the last quarter. Amundi raised its holdings in shares of Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock worth $2,966,598,000 after acquiring an additional 2,329,964 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Exxon Mobil by 3.7% in the first 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. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on XOM shares. Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a report on Monday. Bank of America boosted their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. UBS Group upped their price objective on shares of Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Barclays lowered their target price on shares of Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Melius initiated coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $128.50.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

XOM opened at $114.47 on Friday. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $123.21. The company has a 50 day moving average of $113.39 and a two-hundred day moving average of $110.19. The company has a market cap of $487.99 billion, a P/E ratio of 16.26, a P/E/G ratio of 2.06 and a beta of 0.49. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $57.55 billion for the quarter. On average, analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. The ex-dividend date is Friday, November 14th. Exxon Mobil’s payout ratio is 59.88%.

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.