Citizens Business Bank purchased a new position in Exxon Mobil Co. (NYSE:XOM – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,872 shares of the oil and gas company’s stock, valued at approximately $6,449,000. Exxon Mobil comprises 1.6% of Citizens Business Bank’s investment portfolio, making the stock its 14th largest position.
Other hedge funds have also recently made changes to their positions in the company. CTC Capital Management LLC bought a new position in shares of Exxon Mobil in the third quarter worth about $1,807,000. WMG Financial Advisors LLC grew its holdings in shares of Exxon Mobil by 0.9% in the third quarter. WMG Financial Advisors LLC now owns 11,899 shares of the oil and gas company’s stock worth $1,039,000 after purchasing an additional 108 shares during the last quarter. Polaris Wealth Advisory Group LLC grew its holdings in Exxon Mobil by 3,880.2% during the 3rd quarter. Polaris Wealth Advisory Group LLC now owns 205,259 shares of the oil and gas company’s stock worth $20,288,000 after acquiring an additional 200,102 shares in the last quarter. Brown Advisory Inc. grew its holdings in Exxon Mobil by 1.4% during the 2nd quarter. Brown Advisory Inc. now owns 1,803,171 shares of the oil and gas company’s stock worth $134,296,000 after acquiring an additional 24,869 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC grew its holdings in Exxon Mobil by 8.5% during the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 7,244 shares of the oil and gas company’s stock worth $620,000 after acquiring an additional 566 shares in the last quarter. 57.49% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Exxon Mobil
In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction on Friday, December 9th. The stock was sold at an average price of $105.00, for a total value of $262,500.00. Following the transaction, the vice president now owns 34,272 shares in the company, valued at approximately $3,598,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.
Exxon Mobil Price Performance
Exxon Mobil (NYSE:XOM – Get Rating) last released its quarterly earnings results on Friday, October 28th. The oil and gas company reported $4.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.88 by $0.57. Exxon Mobil had a net margin of 12.86% and a return on equity of 29.52%. The firm had revenue of $112.07 billion for the quarter, compared to analysts’ expectations of $102.96 billion. During the same quarter last year, the company earned $1.58 EPS. The firm’s revenue for the quarter was up 51.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Exxon Mobil Co. will post 13.92 earnings per share for the current fiscal year.
Exxon Mobil Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a $3.64 dividend on an annualized basis and a yield of 3.20%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.88. Exxon Mobil’s dividend payout ratio (DPR) is presently 29.71%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on XOM shares. StockNews.com cut shares of Exxon Mobil from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley increased their price target on shares of Exxon Mobil from $113.00 to $114.00 and gave the company an “overweight” rating in a research report on Wednesday, October 19th. Piper Sandler decreased their price target on shares of Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Exane BNP Paribas raised shares of Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $115.00 price target for the company in a research report on Tuesday, November 1st. Finally, Jefferies Financial Group raised shares of Exxon Mobil from a “hold” rating to a “buy” rating and increased their price target for the company from $90.00 to $133.00 in a research report on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.35.
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.
- Get a free copy of the StockNews.com research report on Exxon Mobil (XOM)
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