Synovus Financial Corp Has $41.88 Million Stock Holdings in Exxon Mobil Corporation $XOM

Key Points

• Synovus Financial Corp has reduced its holdings in Exxon Mobil Corporation by 0.9%, owning 352,106 shares worth approximately $41.88 million, making it the firm's 27th largest position.
• Exxon Mobil reported earnings of $1.64 per share for the last quarter, exceeding estimates, while its quarterly revenue fell 12.4% year-over-year.
• The company declared a quarterly dividend of $0.99 per share, representing a yield of 3.6% with a dividend payout ratio of 56.25%.

Synovus Financial Corp lowered its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 352,106 shares of the oil and gas company's stock after selling 3,354 shares during the quarter. Exxon Mobil accounts for 0.5% of Synovus Financial Corp's holdings, making the stock its 27th biggest position. Synovus Financial Corp's holdings in Exxon Mobil were worth $41,876,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. 10Elms LLP acquired a new position in Exxon Mobil during the 4th quarter worth approximately $25,000. Graybill Wealth Management LTD. acquired a new position in Exxon Mobil during the 1st quarter worth approximately $29,000. Elequin Capital LP acquired a new position in Exxon Mobil during the 1st quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new position in Exxon Mobil during the 4th quarter worth approximately $32,000. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in 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 worth $35,000 after acquiring an additional 238 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on XOM shares. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Morgan Stanley upped their price target on Exxon Mobil from $134.00 to $135.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Piper Sandler upped their price objective on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. UBS Group increased their price objective on Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Mizuho cut their price objective on Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $125.00.

Exxon Mobil Trading Up 1.7%

NYSE XOM opened at $111.1220 on Friday. The company has a market cap of $473.74 billion, a PE ratio of 15.78, a PEG ratio of 2.08 and a beta of 0.53. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $126.34. The stock has a 50 day moving average of $110.24 and a 200-day moving average of $108.88.

Exxon Mobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. During the same quarter last year, the firm posted $2.14 EPS. The company's quarterly revenue was down 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.6%. Exxon Mobil's dividend payout ratio (DPR) is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.