Hilltop National Bank Makes New Investment in Exxon Mobil Corporation $XOM

Key Points

• Hilltop National Bank has invested approximately $3.73 million in Exxon Mobil Corporation by purchasing 34,566 shares, making it the bank's 18th largest holding.
• Recent upgrades from analysts have increased the price target for Exxon Mobil, with Bank of America raising their target from $113 to $120 and Piper Sandler moving it from $134 to $145.
• Exxon Mobil's latest earnings report showed an EPS of $1.64, beating estimates, but revenue declined by 12.4% year-over-year, totaling $81.51 billion.

Hilltop National Bank purchased a new position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,566 shares of the oil and gas company's stock, valued at approximately $3,726,000. Exxon Mobil makes up about 1.0% of Hilltop National Bank's portfolio, making the stock its 18th biggest holding.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Melius Research assumed coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective on the stock. Bank of America upped their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the company a "neutral" rating in a report on Wednesday, September 10th. TD Cowen upped their price objective 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. Piper Sandler upped their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, UBS Group upped their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $125.00.

Exxon Mobil Trading Up 1.8%

XOM stock opened at $113.25 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The company's 50-day simple moving average is $111.15 and its 200 day simple moving average is $109.52. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The company has a market capitalization of $482.81 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 2.06 and a beta of 0.51.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results 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. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $81.51 billion for the quarter, compared to the consensus estimate of $79.07 billion. During the same period in the prior year, the company posted $2.14 earnings per share. Exxon Mobil's revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed 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 was Friday, August 15th. Exxon Mobil's dividend payout ratio is presently 56.25%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.03% of the stock is owned by insiders.

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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