Truist Financial Corp Decreases Position in Exxon Mobil Co. (NYSE:XOM)

Truist Financial Corp lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 4.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,087,646 shares of the oil and gas company’s stock after selling 98,286 shares during the period. Truist Financial Corp’s holdings in Exxon Mobil were worth $208,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of XOM. Money Concepts Capital Corp boosted its position in Exxon Mobil by 3.1% in the third quarter. Money Concepts Capital Corp now owns 3,119 shares of the oil and gas company’s stock valued at $367,000 after buying an additional 95 shares in the last quarter. Defined Wealth Management LLC boosted its holdings in shares of Exxon Mobil by 2.4% in the third quarter. Defined Wealth Management LLC now owns 4,051 shares of the oil and gas company’s stock valued at $476,000 after buying an additional 96 shares during the period. Crown Wealth Group LLC boosted its holdings in Exxon Mobil by 2.4% during the third quarter. Crown Wealth Group LLC now owns 4,154 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 97 shares during the last quarter. Auxier Asset Management boosted its holdings in Exxon Mobil by 0.8% during the third quarter. Auxier Asset Management now owns 12,963 shares of the oil and gas company’s stock worth $1,524,000 after purchasing an additional 97 shares during the last quarter. Finally, Pennsylvania Capital Management Inc. ADV lifted its stake in Exxon Mobil by 2.0% in the third quarter. Pennsylvania Capital Management Inc. ADV now owns 4,932 shares of the oil and gas company’s stock valued at $580,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 2.8 %

NYSE:XOM traded down $3.37 during midday trading on Friday, hitting $117.96. 27,289,468 shares of the company traded hands, compared to its average volume of 16,002,832. The firm’s fifty day moving average is $113.33 and its 200-day moving average is $106.67. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75. The firm has a market capitalization of $466.92 billion, a P/E ratio of 13.27, a P/E/G ratio of 4.17 and a beta of 0.96. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The business had revenue of $83.08 billion during the quarter, compared to the consensus estimate of $79.69 billion. During the same period last year, the company earned $2.83 EPS. The business’s revenue was down 4.0% compared to the same quarter last year. On average, sell-side analysts predict that Exxon Mobil Co. will post 9.7 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Tuesday, May 14th. Exxon Mobil’s payout ratio is currently 42.74%.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total value of $252,000.00. Following the completion of the sale, the vice president now directly owns 30,189 shares in the company, valued at $3,169,845. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on XOM shares. Wells Fargo & Company increased their price objective on shares of Exxon Mobil from $126.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Piper Sandler increased their price objective on shares of Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Scotiabank raised their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Redburn Atlantic upgraded shares of Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.00 to $119.00 in a research report on Tuesday, January 9th. Finally, Truist Financial raised their price target on shares of Exxon Mobil from $140.00 to $146.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.28.

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.