Stock Yards Bank & Trust Co. increased its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,083 shares of the oil and gas company’s stock after buying an additional 1,953 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Exxon Mobil were worth $7,005,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Exxon Mobil by 1.1% in the second quarter. Vanguard Group Inc. now owns 353,122,370 shares of the oil and gas company’s stock valued at $22,274,960,000 after purchasing an additional 3,683,303 shares during the last quarter. State Street Corp boosted its stake in shares of 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 acquiring an additional 4,874,643 shares in the last quarter. FMR LLC boosted its stake in shares of 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 acquiring an additional 6,141,561 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Exxon Mobil by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 65,477,448 shares of the oil and gas company’s stock worth $4,118,459,000 after acquiring an additional 2,327,554 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Exxon Mobil by 7.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 30,192,630 shares of the oil and gas company’s stock worth $1,904,553,000 after acquiring an additional 2,080,871 shares in the last quarter. 51.66% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the stock. Bank of America restated a “buy” rating and set a $95.00 price target on shares of Exxon Mobil in a research report on Monday, November 1st. DZ Bank downgraded shares of Exxon Mobil from a “buy” rating to a “hold” rating and reduced their price target for the stock from $67.00 to $62.50 in a research report on Tuesday, August 3rd. Royal Bank of Canada set a $65.00 price objective on shares of Exxon Mobil in a report on Friday, October 29th. Exane BNP Paribas downgraded shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $60.00 price objective for the company. in a report on Monday, October 11th. Finally, Truist downgraded shares of Exxon Mobil from a “hold” rating to a “sell” rating and cut their price objective for the company from $66.00 to $50.00 in a report on Tuesday, November 2nd. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.94.
Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Thursday, October 28th. The oil and gas company reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.02. The firm had revenue of $73.79 billion for the quarter, compared to analyst estimates of $72.05 billion. Exxon Mobil had a negative net margin of 2.39% and a positive return on equity of 8.66%. Exxon Mobil’s revenue for the quarter was up 59.7% compared to the same quarter last year. During the same period last year, the business earned ($0.18) EPS. As a group, equities research analysts expect 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. Shareholders of record on Friday, November 12th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, November 10th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a yield of 5.55%. Exxon Mobil’s payout ratio is currently -253.24%.
In other Exxon Mobil news, Director Michael J. Angelakis acquired 5,000 shares of the company’s stock in a transaction on Wednesday, November 3rd. The shares were bought at an average cost of $64.00 per share, for a total transaction of $320,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.
Exxon Mobil Company 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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