Amalgamated Bank Lowers Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Amalgamated Bank lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 0.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 866,263 shares of the oil and gas company's stock after selling 3,058 shares during the period. Exxon Mobil makes up approximately 0.9% of Amalgamated Bank's investment portfolio, making the stock its 14th largest position. Amalgamated Bank's holdings in Exxon Mobil were worth $103,025,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. 10Elms LLP acquired a new stake in shares of Exxon Mobil during the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in Exxon Mobil during the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new stake in Exxon Mobil during the 4th quarter worth approximately $32,000. Synergy Investment Management LLC purchased a new position in Exxon Mobil in the 4th quarter valued at approximately $47,000. Finally, Clarity Asset Management Inc. grew its stake in shares of Exxon Mobil by 29.7% in the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on XOM shares. Scotiabank reduced their price objective on 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. Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. Piper Sandler increased their price target on Exxon Mobil from $125.00 to $131.00 and gave the company an "overweight" rating in a research report on Wednesday. TD Cowen boosted their price objective on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Mizuho cut their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $125.40.

Exxon Mobil Stock Up 1.6%

Shares of NYSE:XOM traded up $1.78 during trading on Wednesday, hitting $111.02. 11,880,163 shares of the company were exchanged, compared to its average volume of 15,735,467. The firm's 50 day moving average price is $107.10 and its 200-day moving average price is $108.44. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 0.90. The stock has a market capitalization of $478.46 billion, a P/E ratio of 14.72, a PEG ratio of 2.09 and a beta of 0.50.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating analysts' consensus estimates of $1.73 by $0.03. The firm had revenue of $83.13 billion during the quarter, compared to analysts' expectations of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. Exxon Mobil's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.06 earnings per share. On average, research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a $0.99 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.57%. Exxon Mobil's dividend payout ratio (DPR) is presently 52.52%.

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.