Arbor Trust Wealth Advisors LLC Reduces Position in Exxon Mobil Corporation (NYSE:XOM)

Arbor Trust Wealth Advisors LLC decreased its holdings in Exxon Mobil Corporation (NYSE:XOM) by 41.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,777 shares of the oil and gas company’s stock after selling 6,168 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Exxon Mobil were worth $1,044,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Exxon Mobil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock worth $10,023,875,000 after purchasing an additional 1,104,617 shares in the last quarter. Norges Bank purchased a new stake in shares of Exxon Mobil in the fourth quarter worth about $6,936,737,000. Northern Trust Corp lifted its holdings in shares of Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after buying an additional 2,998,892 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock valued at $3,836,226,000 after acquiring an additional 4,140,046 shares during the period. Finally, Capital Research Global Investors grew its stake in Exxon Mobil by 3.9% during the fourth quarter. Capital Research Global Investors now owns 34,763,179 shares of the oil and gas company’s stock valued at $3,739,465,000 after acquiring an additional 1,293,111 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

XOM has been the topic of several recent analyst reports. Piper Sandler upgraded shares of Exxon Mobil from a “hold” rating to a “strong-buy” rating and increased their target price for the stock from $125.00 to $131.00 in a research note on Wednesday. Scotiabank lowered their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Mizuho decreased their target price on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, TD Cowen raised their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a “buy” rating in a report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus target price of $125.40.

Exxon Mobil Trading Up 1.0%

XOM stock opened at $112.15 on Friday. The company has a market capitalization of $483.33 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 2.15 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 1.24. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The company’s 50 day moving average price is $107.25 and its two-hundred day moving average price is $108.48.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. The company had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 EPS. As a group, analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were issued a $0.99 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.53%. Exxon Mobil’s dividend payout ratio is currently 52.52%.

Exxon Mobil 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.