FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 64,763 shares of the oil and gas company’s stock after purchasing an additional 1,036 shares during the period. Exxon Mobil makes up approximately 1.0% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 22nd largest position. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Exxon Mobil were worth $3,809,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of XOM. Amundi bought a new stake in shares of Exxon Mobil in the 2nd quarter valued at approximately $986,290,000. GQG Partners LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter valued at $899,097,000. FMR LLC raised its stake in Exxon Mobil by 7.2% during the 2nd quarter. FMR LLC now owns 91,323,495 shares of the oil and gas company’s stock worth $5,760,686,000 after buying an additional 6,141,561 shares during the period. State Street Corp raised its stake in Exxon Mobil by 2.0% during the 2nd quarter. State Street Corp now owns 252,449,984 shares of the oil and gas company’s stock worth $15,924,545,000 after buying an additional 4,874,643 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Exxon Mobil by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 353,122,370 shares of the oil and gas company’s stock worth $22,274,960,000 after purchasing an additional 3,683,303 shares in the last quarter. 51.66% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on the company. Truist Securities downgraded Exxon Mobil from a “hold” rating to a “sell” rating and reduced their target price for the stock from $66.00 to $50.00 in a research note on Tuesday, November 2nd. Credit Suisse Group reissued a “neutral” rating on shares of Exxon Mobil in a report on Thursday, October 21st. Truist lowered Exxon Mobil from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $66.00 to $50.00 in a research report on Tuesday, November 2nd. The Goldman Sachs Group set a $71.00 price target on Exxon Mobil in a research report on Monday, November 1st. Finally, Bank of America reiterated a “buy” rating and issued a $95.00 price target on shares of Exxon Mobil in a research report on Monday, November 1st. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.94.
Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $1.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.02. Exxon Mobil had a positive return on equity of 8.66% and a negative net margin of 2.39%. The company had revenue of $73.79 billion for the quarter, compared to the consensus estimate of $72.05 billion. During the same quarter last year, the business posted ($0.18) earnings per share. The firm’s revenue was up 59.7% compared to the same quarter last year. On average, research analysts forecast that Exxon Mobil Co. will post 5.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Friday, November 12th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend is Wednesday, November 10th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.87. Exxon Mobil’s dividend payout ratio (DPR) is -253.24%.
In other Exxon Mobil news, Director Michael J. Angelakis acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, November 3rd. The shares were bought at an average price of $64.00 per share, for a total transaction of $320,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.05% of the company’s stock.
Exxon Mobil Profile
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
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