Bank of The West reduced its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,461 shares of the oil and gas company’s stock after selling 781 shares during the period. Bank of The West’s holdings in Exxon Mobil were worth $534,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in XOM. Atlas Capital Advisors LLC increased its holdings in Exxon Mobil by 102.9% during the first quarter. Atlas Capital Advisors LLC now owns 493 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 250 shares during the last quarter. Mizuho Securities Co. Ltd. increased its holdings in Exxon Mobil by 243.6% during the first quarter. Mizuho Securities Co. Ltd. now owns 756 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 536 shares during the last quarter. tru Independence LLC purchased a new stake in shares of Exxon Mobil in the second quarter worth $43,000. Baldrige Asset Management LLC purchased a new stake in shares of Exxon Mobil in the second quarter worth $50,000. Finally, USA Financial Portformulas Corp purchased a new stake in shares of Exxon Mobil in the second quarter worth $57,000. 51.73% of the stock is owned by institutional investors and hedge funds.
XOM has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of Exxon Mobil from $56.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, July 1st. Barclays increased their price objective on shares of Exxon Mobil from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, June 3rd. Wells Fargo & Company increased their price objective on shares of Exxon Mobil from $67.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 30th. Tudor Pickering reissued a “buy” rating and issued a C$48.00 price objective on shares of Exxon Mobil in a research note on Friday, June 4th. Finally, Piper Sandler upped their target price on shares of Exxon Mobil from $63.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, July 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Hold” and a consensus price target of $60.35.
Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Thursday, July 29th. The oil and gas company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.08. The company had revenue of $67.74 billion for the quarter, compared to the consensus estimate of $63.96 billion. Exxon Mobil had a negative net margin of 6.07% and a positive return on equity of 3.98%. The firm’s revenue was up 107.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.70) EPS. As a group, sell-side analysts predict that Exxon Mobil Co. will post 4.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 13th were paid a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 6.48%. The ex-dividend date was Thursday, August 12th. Exxon Mobil’s dividend payout ratio is presently -1,054.55%.
About Exxon Mobil
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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