Arvest Bank Trust Division Reduces Stock Holdings in Exxon Mobil Corporation $XOM

Arvest Bank Trust Division cut its holdings in Exxon Mobil Corporation (NYSE:XOM) by 20.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,440 shares of the oil and gas company’s stock after selling 5,404 shares during the quarter. Arvest Bank Trust Division’s holdings in Exxon Mobil were worth $2,203,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Journey Strategic Wealth LLC raised its holdings in Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock worth $2,608,000 after purchasing an additional 1,379 shares during the period. Linscomb Wealth Inc. grew its holdings in Exxon Mobil by 1.4% in the second quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock valued at $42,017,000 after purchasing an additional 5,527 shares during the period. Jones Financial Companies Lllp increased its position in shares of Exxon Mobil by 52.3% in the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after buying an additional 131,600 shares in the last quarter. OneAscent Wealth Management LLC raised its stake in shares of Exxon Mobil by 116.7% during the 2nd quarter. OneAscent Wealth Management LLC now owns 7,657 shares of the oil and gas company’s stock worth $825,000 after buying an additional 4,123 shares during the period. Finally, Hartford Funds Management Co LLC lifted its position in shares of Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company’s stock valued at $912,000 after buying an additional 2,617 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the subject of a number of research reports. Mizuho cut their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. Piper Sandler boosted their price objective on Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Exxon Mobil in a report on Wednesday, October 8th. UBS Group lifted their price target on Exxon Mobil from $143.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, Morgan Stanley increased their price objective on Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.67.

Exxon Mobil Price Performance

XOM stock opened at $118.70 on Friday. Exxon Mobil Corporation has a 1 year low of $97.80 and a 1 year high of $123.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The firm has a market capitalization of $500.57 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49. The business has a 50 day simple moving average of $113.87 and a 200-day simple moving average of $110.56.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. The firm had revenue of $57.55 billion for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. Equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a $1.03 dividend. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, November 14th. Exxon Mobil’s payout ratio is currently 59.88%.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president directly owned 13,829 shares of the company’s stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Company Profile

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.