Grove Bank & Trust Has $7.66 Million Holdings in Exxon Mobil Co. (NYSE:XOM)

Grove Bank & Trust increased its stake in Exxon Mobil Co. (NYSE:XOM) by 3.3% in the first quarter, Holdings Channel.com reports. The firm owned 64,434 shares of the oil and gas company’s stock after purchasing an additional 2,047 shares during the quarter. Exxon Mobil makes up approximately 1.0% of Grove Bank & Trust’s investment portfolio, making the stock its 22nd largest position. Grove Bank & Trust’s holdings in Exxon Mobil were worth $7,663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Beacon Capital Management LLC boosted its stake in shares of Exxon Mobil by 1.1% during the 4th quarter. Beacon Capital Management LLC now owns 8,582 shares of the oil and gas company’s stock worth $923,000 after buying an additional 93 shares during the last quarter. Altus Wealth Group LLC boosted its stake in shares of Exxon Mobil by 0.9% during the 4th quarter. Altus Wealth Group LLC now owns 10,130 shares of the oil and gas company’s stock worth $1,090,000 after buying an additional 94 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Exxon Mobil by 11.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 918 shares of the oil and gas company’s stock worth $99,000 after buying an additional 94 shares during the last quarter. WPWealth LLP boosted its stake in shares of Exxon Mobil by 1.1% during the 4th quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company’s stock worth $990,000 after buying an additional 96 shares during the last quarter. Finally, Financial Management Network Inc. boosted its stake in shares of Exxon Mobil by 1.2% during the 4th quarter. Financial Management Network Inc. now owns 8,441 shares of the oil and gas company’s stock worth $910,000 after buying an additional 97 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Stock Up 0.3%

Shares of XOM opened at $112.48 on Tuesday. Exxon Mobil Co. has a 12 month low of $97.80 and a 12 month high of $126.34. The firm’s 50 day moving average is $105.75 and its 200-day moving average is $108.62. The stock has a market capitalization of $484.73 billion, a PE ratio of 14.35, a P/E/G ratio of 3.02 and a beta of 0.49. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. The company had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. During the same period last year, the firm earned $2.06 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. Exxon Mobil’s dividend payout ratio is 52.52%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on XOM shares. Mizuho reduced their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Scotiabank dropped their target price on shares of Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. UBS Group dropped their target price on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Morgan Stanley dropped their target price on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, Barclays reaffirmed a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

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.