Citizens Financial Group Inc. RI Lowers Position in ExxonMobil Corporation $XOM

Citizens Financial Group Inc. RI cut its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 232,073 shares of the oil and gas company’s stock after selling 5,197 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in ExxonMobil were worth $39,373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Midwest Trust Co boosted its position in shares of ExxonMobil by 3.9% in the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock worth $120,623,000 after purchasing an additional 26,411 shares during the period. Fifth Third Bancorp raised its position in shares of ExxonMobil by 63.3% during the 1st quarter. Fifth Third Bancorp now owns 3,371,424 shares of the oil and gas company’s stock valued at $571,996,000 after purchasing an additional 1,307,465 shares during the period. Glass Wealth Management Co LLC lifted its stake in shares of ExxonMobil by 0.9% during the 1st quarter. Glass Wealth Management Co LLC now owns 73,596 shares of the oil and gas company’s stock valued at $12,486,000 after buying an additional 640 shares in the last quarter. Sovran Advisors LLC lifted its stake in shares of ExxonMobil by 32.6% during the 1st quarter. Sovran Advisors LLC now owns 16,950 shares of the oil and gas company’s stock valued at $2,616,000 after buying an additional 4,172 shares in the last quarter. Finally, Markel Group Inc. boosted its holdings in ExxonMobil by 23.7% in the 1st quarter. Markel Group Inc. now owns 47,000 shares of the oil and gas company’s stock worth $7,974,000 after buying an additional 9,000 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on XOM. BNP Paribas Exane set a $165.00 target price on ExxonMobil and gave the stock a “neutral” rating in a research report on Friday, April 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. TD Cowen cut their price objective on shares of ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Piper Sandler reduced their price objective on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Wells Fargo & Company boosted their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.45.

ExxonMobil Price Performance

Shares of ExxonMobil stock opened at $144.50 on Thursday. The stock has a market cap of $598.95 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 0.59 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The stock has a 50 day moving average price of $145.73 and a 200-day moving average price of $146.11. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same period in the prior year, the company posted $1.76 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts expect that ExxonMobil Corporation will post 11.48 EPS for the current year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. ExxonMobil’s dividend payout ratio is presently 69.48%.

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.