Exxon Mobil Co. (NYSE:XOM) Stock Position Increased by Grove Bank & Trust

Grove Bank & Trust raised its position in shares of Exxon Mobil Co. (NYSE:XOM) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,053 shares of the oil and gas company’s stock after purchasing an additional 852 shares during the period. Exxon Mobil accounts for approximately 1.1% of Grove Bank & Trust’s holdings, making the stock its 20th biggest position. Grove Bank & Trust’s holdings in Exxon Mobil were worth $7,028,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in XOM. FPC Investment Advisory Inc. bought a new position in Exxon Mobil in the 1st quarter valued at about $25,000. First Pacific Financial acquired a new position in shares of Exxon Mobil during the first quarter valued at approximately $34,000. Lynx Investment Advisory bought a new stake in Exxon Mobil during the second quarter worth approximately $47,000. Partnership Wealth Management LLC acquired a new stake in Exxon Mobil in the fourth quarter worth approximately $46,000. Finally, Vima LLC bought a new position in Exxon Mobil during the 4th quarter valued at $50,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Up 1.4 %

Shares of NYSE:XOM traded up $1.59 during midday trading on Friday, hitting $116.32. 10,381,431 shares of the stock were exchanged, compared to its average volume of 17,064,939. The business’s fifty day simple moving average is $115.14 and its two-hundred day simple moving average is $113.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75. The company has a market capitalization of $458.65 billion, a PE ratio of 14.25, a P/E/G ratio of 4.51 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The company had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, research analysts predict that Exxon Mobil Co. will post 8.65 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Thursday, August 15th. Exxon Mobil’s dividend payout ratio is 46.57%.

Analyst Ratings Changes

Several brokerages have recently weighed in on XOM. Sanford C. Bernstein cut their price objective on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. Morgan Stanley restated an “overweight” rating and set a $145.00 target price on shares of Exxon Mobil in a report on Wednesday, May 15th. Wolfe Research started coverage on Exxon Mobil in a report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price target on the stock. Finally, Truist Financial reduced their price objective on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $134.56.

About Exxon Mobil

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.