First American Bank Cuts Stake in Exxon Mobil Corporation $XOM

First American Bank lessened its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,487 shares of the oil and gas company’s stock after selling 4,362 shares during the period. Exxon Mobil makes up about 1.0% of First American Bank’s portfolio, making the stock its 21st biggest holding. First American Bank’s holdings in Exxon Mobil were worth $16,516,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Axis Wealth Partners LLC grew its stake in shares of Exxon Mobil by 1.8% during the second quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company’s stock worth $545,000 after acquiring an additional 90 shares during the last quarter. Sagace Wealth Management LLC boosted its stake in Exxon Mobil by 2.7% in the 3rd quarter. Sagace Wealth Management LLC now owns 3,445 shares of the oil and gas company’s stock worth $388,000 after purchasing an additional 90 shares in the last quarter. Park Edge Advisors LLC grew its position in Exxon Mobil by 0.3% during the 2nd quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company’s stock worth $3,453,000 after purchasing an additional 91 shares during the last quarter. Willow Creek Wealth Management Inc. increased its stake in Exxon Mobil by 3.6% during the 2nd quarter. Willow Creek Wealth Management Inc. now owns 2,640 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 91 shares in the last quarter. Finally, Capstone Wealth Management LLC raised its holdings in shares of Exxon Mobil by 3.8% in the third quarter. Capstone Wealth Management LLC now owns 2,527 shares of the oil and gas company’s stock worth $285,000 after buying an additional 92 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 3,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $117.19, for a total transaction of $351,570.00. Following the transaction, the vice president owned 28,584 shares in the company, valued at approximately $3,349,758.96. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several research reports. Mizuho upped their target price on Exxon Mobil from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Jefferies Financial Group boosted their price target on Exxon Mobil from $146.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Bank of America reduced their price objective on Exxon Mobil from $119.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, December 11th. Piper Sandler upped their target price on Exxon Mobil from $141.00 to $144.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. Finally, TD Cowen increased their price target on shares of Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus price target of $129.45.

Exxon Mobil Price Performance

NYSE:XOM opened at $120.36 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.14 and a quick ratio of 0.79. The company has a 50 day moving average price of $117.18 and a 200-day moving average price of $113.49. Exxon Mobil Corporation has a 1-year low of $97.80 and a 1-year high of $121.80. The firm has a market cap of $507.58 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 7.56 and a beta of 0.37.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. Exxon Mobil had a net margin of 8.99% and a return on equity of 11.22%. The company had revenue of $57.55 billion for the quarter. Equities research analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were paid a $1.03 dividend. The ex-dividend date was Friday, November 14th. This represents a $4.12 annualized dividend and a dividend yield of 3.4%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is presently 59.88%.

Exxon Mobil Profile

Exxon Mobil 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.