Stonebridge Capital Management Inc. Sells 2,368 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Stonebridge Capital Management Inc. reduced its holdings in Exxon Mobil Corporation by 11.0%, selling 2,368 shares, and now owns 19,254 shares, accounting for 1.0% of its portfolio.
• Exxon Mobil announced a quarterly dividend of $0.99 per share, which will be paid on September 10th, representing an annualized yield of 3.7%.
• Wall Street analysts have an average target price of $125.26 for Exxon Mobil, with the stock currently rated as a "Hold" by consensus.

Stonebridge Capital Management Inc. cut its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,254 shares of the oil and gas company's stock after selling 2,368 shares during the period. Exxon Mobil accounts for approximately 1.0% of Stonebridge Capital Management Inc.'s portfolio, making the stock its 28th largest holding. Stonebridge Capital Management Inc.'s holdings in Exxon Mobil were worth $2,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Exxon Mobil by 14,242.7% in the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock worth $1,124,787,000 after purchasing an additional 9,391,614 shares during the last quarter. Northern Trust Corp boosted its stake in Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after buying an additional 2,998,892 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Exxon Mobil in the fourth quarter worth approximately $240,653,000. Massachusetts Financial Services Co. MA boosted its stake in Exxon Mobil by 8.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 20,256,504 shares of the oil and gas company's stock worth $2,409,106,000 after buying an additional 1,550,248 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Exxon Mobil by 68.3% in the first quarter. Federated Hermes Inc. now owns 3,406,119 shares of the oil and gas company's stock worth $405,090,000 after buying an additional 1,382,760 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on XOM shares. Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. TD Cowen increased their price objective on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Piper Sandler raised their price target on Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. UBS Group dropped their price target on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company set a $127.00 price target on Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $125.26.

Exxon Mobil Price Performance

NYSE XOM opened at $106.79 on Friday. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The stock has a 50-day moving average of $109.89 and a 200 day moving average of $108.97. The company has a market capitalization of $455.27 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.99 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. During the same period last year, the company earned $2.14 EPS. Exxon Mobil's revenue for the quarter was down 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

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.

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