Central Pacific Bank Trust Division Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Central Pacific Bank Trust Division trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,452 shares of the oil and gas company's stock after selling 2,483 shares during the period. Exxon Mobil comprises 0.7% of Central Pacific Bank Trust Division's portfolio, making the stock its 26th largest position. Central Pacific Bank Trust Division's holdings in Exxon Mobil were worth $5,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of XOM. 10Elms LLP bought a new position in shares of Exxon Mobil during the fourth quarter valued at about $25,000. Fairway Wealth LLC bought a new position in Exxon Mobil in the fourth quarter worth about $31,000. Capital A Wealth Management LLC bought a new position in Exxon Mobil in the fourth quarter worth about $32,000. Keystone Financial Group Inc. bought a new position in Exxon Mobil in the fourth quarter worth about $36,000. Finally, Compass Planning Associates Inc bought a new position in Exxon Mobil in the fourth quarter worth about $47,000. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Stock Up 0.7%

Shares of NYSE:XOM traded up $0.71 during trading on Monday, reaching $103.01. 17,286,652 shares of the stock traded hands, compared to its average volume of 15,555,457. The stock has a 50-day moving average of $106.65 and a two-hundred day moving average of $109.50. Exxon Mobil Co. has a 52-week low of $97.80 and a 52-week high of $126.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market cap of $443.95 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 3.02 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.03. Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. The firm had revenue of $83.13 billion for the quarter, compared to analysts' expectations of $86.11 billion. During the same quarter in the prior year, the company posted $2.06 earnings per share. The business's revenue for the quarter was up .1% on a year-over-year basis. As a group, sell-side analysts expect that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Thursday, May 15th. Exxon Mobil's payout ratio is 52.52%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on XOM shares. Argus raised shares of Exxon Mobil to a "strong-buy" rating in a research note on Tuesday, February 4th. Piper Sandler downgraded shares of Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 28th. Morgan Stanley decreased their price target on shares of Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. UBS Group decreased their price target on shares of Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Barclays reissued a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $125.50.

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.