Bank of New York Mellon Corp Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Bank of New York Mellon Corp lowered its position in Exxon Mobil Co. (NYSE:XOM) by 5.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 51,215,768 shares of the oil and gas company’s stock after selling 3,047,960 shares during the period. Exxon Mobil comprises about 0.6% of Bank of New York Mellon Corp’s investment portfolio, making the stock its 23rd biggest position. Bank of New York Mellon Corp’s holdings in Exxon Mobil were worth $3,230,691,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its stake in Exxon Mobil by 803.7% in the first quarter. Canada Pension Plan Investment Board now owns 4,300,407 shares of the oil and gas company’s stock valued at $240,091,000 after acquiring an additional 3,824,559 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Exxon Mobil by 25.5% in the first quarter. Nuveen Asset Management LLC now owns 18,265,750 shares of the oil and gas company’s stock valued at $1,019,777,000 after acquiring an additional 3,710,698 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Exxon Mobil by 23.5% in the first quarter. UBS Asset Management Americas Inc. now owns 17,769,207 shares of the oil and gas company’s stock valued at $992,055,000 after acquiring an additional 3,380,503 shares during the last quarter. Morgan Stanley increased its stake in Exxon Mobil by 12.8% in the first quarter. Morgan Stanley now owns 27,506,146 shares of the oil and gas company’s stock valued at $1,535,666,000 after acquiring an additional 3,114,113 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Exxon Mobil in the first quarter valued at $162,142,000. 51.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE XOM traded down $0.19 during trading on Tuesday, reaching $53.50. 566,300 shares of the company traded hands, compared to its average volume of 25,246,701. The firm has a 50 day simple moving average of $56.20 and a 200-day simple moving average of $58.39. Exxon Mobil Co. has a 52-week low of $31.11 and a 52-week high of $64.93. The stock has a market capitalization of $226.50 billion, a PE ratio of -17.26, a P/E/G ratio of 0.69 and a beta of 1.44. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.27.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Thursday, July 29th. The oil and gas company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.08. Exxon Mobil had a negative net margin of 6.07% and a positive return on equity of 3.98%. The company had revenue of $67.74 billion for the quarter, compared to analysts’ expectations of $63.96 billion. During the same quarter last year, the company posted ($0.70) earnings per share. The firm’s quarterly revenue was up 107.8% on a year-over-year basis. As a group, research analysts predict that Exxon Mobil Co. will post 4.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 13th were given a $0.87 dividend. The ex-dividend date was Thursday, August 12th. This represents a $3.48 annualized dividend and a yield of 6.50%. Exxon Mobil’s payout ratio is presently -1,054.55%.

A number of research analysts have recently issued reports on the company. DZ Bank cut Exxon Mobil from a “buy” rating to a “hold” rating and reduced their price objective for the company from $67.00 to $62.50 in a research note on Tuesday, August 3rd. Piper Sandler raised their price objective on Exxon Mobil from $63.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, July 23rd. They noted that the move was a valuation call. BMO Capital Markets initiated coverage on shares of Exxon Mobil in a report on Monday, July 12th. They set a “market perform” rating and a $69.00 target price for the company. Tudor Pickering reaffirmed a “buy” rating and set a C$48.00 price target on shares of Exxon Mobil in a research report on Friday, June 4th. Finally, lifted their price objective on Exxon Mobil from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, July 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.35.

Exxon Mobil Company Profile

Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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