Exxon Mobil Corporation (NYSE:XOM) Shares Sold by Heritage Trust Co

Key Points

• Heritage Trust Co decreased its holdings in Exxon Mobil by 4.8%, selling 3,176 shares, which now account for 0.9% of its portfolio, valued at approximately $7.57 million.
• Exxon Mobil reported better-than-expected earnings of $1.64 per share for the last quarter, surpassing analysts' average estimate of $1.47, with revenue of $81.51 billion.
• The company also declared a quarterly dividend of $0.99 per share, reflecting a yield of 3.6% and a payout ratio of 52.52%.

Heritage Trust Co cut its position in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,684 shares of the oil and gas company's stock after selling 3,176 shares during the quarter. Exxon Mobil accounts for 0.9% of Heritage Trust Co's holdings, making the stock its 25th largest holding. Heritage Trust Co's holdings in Exxon Mobil were worth $7,574,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Prudential PLC boosted its holdings in Exxon Mobil by 16.9% in the fourth quarter. Prudential PLC now owns 60,097 shares of the oil and gas company's stock valued at $6,465,000 after purchasing an additional 8,698 shares during the period. Integrated Quantitative Investments LLC purchased a new position in Exxon Mobil in the fourth quarter valued at $267,000. Pioneer Trust Bank N A OR boosted its holdings in Exxon Mobil by 3.7% in the fourth quarter. Pioneer Trust Bank N A OR now owns 57,986 shares of the oil and gas company's stock valued at $6,238,000 after purchasing an additional 2,067 shares during the period. Islay Capital Management LLC boosted its holdings in Exxon Mobil by 6.6% in the fourth quarter. Islay Capital Management LLC now owns 14,969 shares of the oil and gas company's stock valued at $1,610,000 after purchasing an additional 921 shares during the period. Finally, Resona Asset Management Co. Ltd. purchased a new position in Exxon Mobil in the fourth quarter valued at $145,256,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XOM has been the subject of a number of recent research reports. TD Cowen lifted their target price on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Piper Sandler lifted their price target on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, UBS Group decreased their price target on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $125.42.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $109.61 on Friday. The stock has a market capitalization of $472.38 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.06 and a beta of 0.53. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The stock's 50-day moving average price is $109.48 and its 200 day moving average price is $109.13. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.17. The firm had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The firm's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.14 EPS. As a group, equities research analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) is presently 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.

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