Comerica Bank Trims Stake in Exxon Mobil Co. (NYSE:XOM)

Comerica Bank lessened its holdings in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,488,457 shares of the oil and gas company's stock after selling 82,915 shares during the period. Exxon Mobil comprises approximately 0.6% of Comerica Bank's investment portfolio, making the stock its 20th biggest position. Comerica Bank's holdings in Exxon Mobil were worth $160,113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Exxon Mobil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock worth $10,023,875,000 after buying an additional 1,104,617 shares in the last quarter. Norges Bank purchased a new stake in shares of Exxon Mobil in the 4th quarter worth approximately $6,936,737,000. Northern Trust Corp increased its holdings in shares of Exxon Mobil by 7.0% in the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares during the period. Bank of New York Mellon Corp raised its holdings 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. boosted its stake 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 acquiring an additional 4,140,046 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,100 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the transaction, the vice president now owns 18,087 shares in the company, valued at approximately $1,989,570. This represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on XOM shares. UBS Group cut their target price on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. BMO Capital Markets dropped their price target on shares of Exxon Mobil from $130.00 to $123.00 and set a "market perform" rating on the stock in a research report on Friday, January 31st. HSBC reduced their target price on Exxon Mobil from $125.00 to $123.00 and set a "hold" rating for the company in a research note 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 on the stock in a research note on Friday, April 11th. Finally, Bernstein Bank upped their target price on shares of Exxon Mobil from $138.00 to $144.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $126.50.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $108.37 on Wednesday. The business has a 50 day simple moving average of $109.64 and a 200-day simple moving average of $112.00. Exxon Mobil Co. has a twelve month low of $97.80 and a twelve month high of $126.34. The company has a market capitalization of $468.73 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 3.02 and a beta of 0.61. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 EPS 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 last year, the business earned $2.48 earnings per share. As a group, equities research 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 disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 12th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.65%. Exxon Mobil's dividend payout ratio is currently 50.51%.

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.

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