Exxon Mobil Corporation $XOM Shares Sold by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department reduced its holdings in Exxon Mobil Corporation by 11.3%, now owning 82,998 shares valued at approximately $8,947,000.
• Various hedge funds, including Bank of New York Mellon and Ameriprise Financial, increased their stakes in Exxon Mobil, contributing to a total 61.80% institutional ownership of the company’s stock.
• Exxon Mobil recently announced a quarterly dividend of $0.99 per share, representing a 3.5% yield, with a payout ratio of 56.25%.

Mechanics Bank Trust Department lessened its holdings in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 11.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 82,998 shares of the oil and gas company's stock after selling 10,599 shares during the period. Exxon Mobil comprises approximately 1.3% of Mechanics Bank Trust Department's holdings, making the stock its 19th biggest holding. Mechanics Bank Trust Department's holdings in Exxon Mobil were worth $8,947,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in shares of Exxon Mobil by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock valued at $5,390,318,000 after acquiring an additional 1,340,343 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Exxon Mobil by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company's stock valued at $3,850,167,000 after acquiring an additional 512,860 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company's stock valued at $3,213,848,000 after acquiring an additional 2,639,797 shares during the period. Amundi raised its stake in shares of Exxon Mobil by 9.7% in the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company's stock valued at $2,966,598,000 after acquiring an additional 2,329,964 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Exxon Mobil by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company's stock worth $3,028,968,000 after buying an additional 909,386 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Exxon Mobil from $130.00 to $143.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Piper Sandler lifted their price target on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $124.76.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by insiders.

Exxon Mobil Trading Down 0.7%

Exxon Mobil stock opened at $112.05 on Tuesday. 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 firm has a 50-day moving average price of $110.50 and a two-hundred day moving average price of $109.37. The firm has a market capitalization of $477.70 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 2.06 and a beta of 0.57. 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 posted its earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Exxon Mobil's revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.14 EPS. Sell-side analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

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

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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