Webster Bank N. A. lessened its stake in Exxon Mobil Co. (NYSE:XOM - Free Report) by 13.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,448 shares of the oil and gas company's stock after selling 6,522 shares during the quarter. Webster Bank N. A.'s holdings in Exxon Mobil were worth $5,167,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Exxon Mobil during the 4th quarter worth $6,936,737,000. Bank of New York Mellon Corp grew its stake 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 valued at $4,731,263,000 after acquiring an additional 5,538,694 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Exxon Mobil by 1,524.1% during the 4th quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company's stock valued at $585,818,000 after acquiring an additional 5,110,603 shares in the last quarter. Franklin Resources Inc. raised its position in Exxon Mobil by 13.1% during 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 acquiring an additional 4,140,046 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Exxon Mobil by 7.0% in 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 purchasing an additional 2,998,892 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently commented on XOM. Scotiabank lowered 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. Royal Bank of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Morgan Stanley cut their price target on Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Mizuho decreased their price objective on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Piper Sandler cut Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $125.50.
View Our Latest Stock Analysis on XOM
Exxon Mobil Trading Up 0.5%
Shares of XOM traded up $0.54 during mid-day trading on Monday, hitting $102.84. The company had a trading volume of 6,623,589 shares, compared to its average volume of 15,514,102. Exxon Mobil Co. has a 1-year low of $97.80 and a 1-year 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. The business's 50-day simple moving average is $106.95 and its 200-day simple moving average is $109.62. The stock has a market cap of $443.22 billion, a PE ratio of 13.11, a P/E/G ratio of 3.02 and a beta of 0.51.
Exxon Mobil (NYSE:XOM - Get Free Report) last issued its 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. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The firm had revenue of $83.13 billion for the quarter, compared to analysts' expectations of $86.11 billion. During the same quarter last year, the firm earned $2.06 earnings per share. The firm's revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current year.
Exxon Mobil Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.99 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.85%. Exxon Mobil's dividend payout ratio is currently 52.52%.
About Exxon Mobil
(
Free Report)
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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