Fulton Bank N.A. Buys 8,686 Shares of Exxon Mobil Corporation $XOM

Key Points

• Fulton Bank N.A. increased its stake in Exxon Mobil by 15.2% in Q2, owning 65,848 shares valued at approximately $7.1 million.
• Exxon Mobil reported $1.64 earnings per share for the latest quarter, exceeding analysts' expectations and achieving revenues of $81.51 billion.
• The company announced a quarterly dividend of $0.99 per share, reflecting a 3.5% yield, with a payout ratio of 56.25%.

Fulton Bank N.A. grew its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 15.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,848 shares of the oil and gas company's stock after buying an additional 8,686 shares during the period. Fulton Bank N.A.'s holdings in Exxon Mobil were worth $7,098,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 10Elms LLP purchased a new position in shares of Exxon Mobil during the 4th quarter valued at $25,000. Graybill Wealth Management LTD. bought a new stake in shares of Exxon Mobil during the 1st quarter valued at $29,000. Elequin Capital LP bought a new stake in shares of Exxon Mobil during the 1st quarter valued at $31,000. Capital A Wealth Management LLC bought a new stake in shares of Exxon Mobil during the 4th quarter valued at $32,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after purchasing an additional 238 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.03% of the stock is owned by corporate insiders.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock traded down $1.11 during trading on Friday, hitting $112.82. 38,732,208 shares of the stock traded hands, compared to its average volume of 13,609,037. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The stock has a market cap of $480.98 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.08 and a beta of 0.57. The firm's fifty day moving average is $110.54 and its 200-day moving average is $109.31. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 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 analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company's revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.14 EPS. Research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a dividend of $0.99 per share. The ex-dividend date was Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.5%. Exxon Mobil's dividend payout ratio is currently 56.25%.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of analyst reports. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Piper Sandler boosted their price objective on Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the company an "overweight" rating in a research note on Thursday, June 26th. Scotiabank restated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Finally, Morgan Stanley upped their target price on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $124.76.

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.