California Public Employees Retirement System Lowers Holdings in Exxon Mobil Co. (NYSE:XOM)

California Public Employees Retirement System reduced its position in shares of Exxon Mobil Co. (NYSE:XOM) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,658,714 shares of the oil and gas company’s stock after selling 209,377 shares during the period. Exxon Mobil makes up 0.6% of California Public Employees Retirement System’s portfolio, making the stock its 24th biggest holding. California Public Employees Retirement System owned about 0.20% of Exxon Mobil worth $931,418,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rockline Wealth Management LLC increased its holdings in shares of Exxon Mobil by 6.1% in the 4th quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company’s stock worth $2,788,000 after buying an additional 1,498 shares during the last quarter. Renasant Bank boosted its holdings in shares of Exxon Mobil by 5.0% in the 4th quarter. Renasant Bank now owns 10,369 shares of the oil and gas company’s stock worth $1,115,000 after purchasing an additional 493 shares in the last quarter. Helen Stephens Group LLC increased its position in shares of Exxon Mobil by 7.3% during the 4th quarter. Helen Stephens Group LLC now owns 41,637 shares of the oil and gas company’s stock valued at $4,479,000 after purchasing an additional 2,825 shares during the last quarter. Hilltop Holdings Inc. lifted its position in Exxon Mobil by 41.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 76,288 shares of the oil and gas company’s stock worth $8,942,000 after buying an additional 22,296 shares during the last quarter. Finally, Merewether Investment Management LP boosted its stake in Exxon Mobil by 3.2% in the third quarter. Merewether Investment Management LP now owns 307,243 shares of the oil and gas company’s stock worth $36,015,000 after buying an additional 9,600 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $117.66 on Friday. The firm has a market cap of $510.53 billion, a P/E ratio of 15.01, a P/E/G ratio of 3.02 and a beta of 0.83. The business’s 50 day moving average price is $110.73 and its 200 day moving average price is $113.71. Exxon Mobil Co. has a 52 week low of $103.67 and a 52 week high of $126.34. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same quarter in the previous year, the business earned $2.48 EPS. On average, sell-side analysts expect that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th were given a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $3.96 annualized dividend and a dividend yield of 3.37%. Exxon Mobil’s dividend payout ratio (DPR) is 50.51%.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the sale, the vice president now directly owns 18,087 shares of the company’s stock, valued at $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on XOM. Piper Sandler lowered their price target on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Truist Financial upped their price target on shares of Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a report on Monday, January 13th. Bernstein Bank raised their price target on Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays reduced their price objective on shares of Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Finally, HSBC reduced their price target on shares of Exxon Mobil from $125.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.05.

About Exxon Mobil

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.