Washington Trust Bank Has $8.45 Million Stock Holdings in Exxon Mobil Corporation (NYSE:XOM)

Washington Trust Bank cut its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 6.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,019 shares of the oil and gas company's stock after selling 4,841 shares during the period. Washington Trust Bank's holdings in Exxon Mobil were worth $8,446,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. 10Elms LLP bought a new position in Exxon Mobil in the 4th quarter valued at about $25,000. Fairway Wealth LLC bought a new position in Exxon Mobil in the 4th quarter valued at about $31,000. Capital A Wealth Management LLC bought a new position in Exxon Mobil in the 4th quarter valued at about $32,000. Cloud Capital Management LLC bought a new position in Exxon Mobil in the 1st quarter valued at about $45,000. Finally, Clarity Asset Management Inc. grew its position in Exxon Mobil by 29.7% in the 4th quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after buying an additional 100 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Up 0.4%

NYSE:XOM traded up $0.47 during mid-day trading on Friday, reaching $115.40. The stock had a trading volume of 11,683,034 shares, compared to its average volume of 15,814,693. The business's 50 day moving average is $108.01 and its 200 day moving average is $108.79. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The stock has a market cap of $497.33 billion, a P/E ratio of 15.31, a PEG ratio of 2.22 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 0.90.

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, topping analysts' consensus estimates of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. The company had revenue of $83.13 billion during the quarter, compared to analysts' expectations of $86.11 billion. During the same quarter in the previous year, the firm earned $2.06 earnings per share. The business's quarterly revenue was up .1% compared to the same quarter last year. As a group, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 annualized dividend and a yield of 3.43%. Exxon Mobil's dividend payout ratio (DPR) is presently 52.52%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on XOM. Royal Bank Of Canada reissued a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. TD Cowen upped their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Morgan Stanley cut their price target on shares of Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Mizuho reduced their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.05.

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.