Trust Point Inc. Sells 3,330 Shares of Exxon Mobil Co. (NYSE:XOM)

Trust Point Inc. reduced its stake in Exxon Mobil Co. (NYSE:XOM - Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,162 shares of the oil and gas company's stock after selling 3,330 shares during the quarter. Exxon Mobil comprises approximately 0.8% of Trust Point Inc.'s portfolio, making the stock its 19th biggest holding. Trust Point Inc.'s holdings in Exxon Mobil were worth $8,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Exxon Mobil in the 4th quarter worth approximately $6,936,737,000. GAMMA Investing LLC raised its position in Exxon Mobil by 14,242.7% in the 1st quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock worth $1,124,787,000 after purchasing an additional 9,391,614 shares during the period. Bank of New York Mellon Corp raised its position in Exxon Mobil by 14.4% in the 4th 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 during the period. Franklin Resources Inc. lifted 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 worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Exxon Mobil by 7.0% during the fourth 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 buying an additional 2,998,892 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Scotiabank reduced 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 report on Friday, April 11th. UBS Group cut their price objective 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. Piper Sandler downgraded Exxon Mobil from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 28th. Morgan Stanley lowered their target price on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Royal Bank of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $125.50.

Exxon Mobil Stock Performance

NYSE:XOM traded up $0.36 during trading hours on Monday, reaching $112.48. The company had a trading volume of 22,874,304 shares, compared to its average volume of 15,720,077. The firm's 50 day moving average price is $105.51 and its 200-day moving average price is $108.66. The firm has a market cap of $484.73 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 3.02 and a beta of 0.49. 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 Co. has a 52 week low of $97.80 and a 52 week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The company had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. During the same quarter in the previous year, the company posted $2.06 earnings per share. Exxon Mobil's revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil's payout ratio is 52.52%.

Exxon Mobil 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.