Bank of New York Mellon Corp Acquires 1,274,860 Shares of Exxon Mobil Corporation $XOM

Bank of New York Mellon Corp boosted its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,598,313 shares of the oil and gas company’s stock after buying an additional 1,274,860 shares during the quarter. Exxon Mobil makes up approximately 0.9% of Bank of New York Mellon Corp’s portfolio, making the stock its 12th largest holding. Bank of New York Mellon Corp owned about 1.08% of Exxon Mobil worth $5,023,298,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in XOM. Graybill Wealth Management LTD. bought a new stake in shares of Exxon Mobil in the 1st quarter worth approximately $29,000. Elequin Capital LP purchased a new stake in Exxon Mobil in the first quarter worth $31,000. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Exxon Mobil by 396.7% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 238 shares during the period. Game Plan Financial Advisors LLC lifted its position in shares of Exxon Mobil by 1,500.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 300 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new position in shares of Exxon Mobil during the 2nd quarter worth $38,000. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

XOM opened at $114.52 on Monday. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average price of $113.26 and a 200-day moving average price of $110.03. The stock has a market capitalization of $488.21 billion, a P/E ratio of 16.27, a PEG ratio of 2.06 and a beta of 0.51.

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

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, November 14th. This represents a $4.12 dividend on an annualized basis and a yield of 3.6%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is currently 57.56%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on XOM. Barclays lowered their price objective on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Scotiabank restated an “outperform” rating on shares of Exxon Mobil in a research note on Thursday, October 9th. Piper Sandler set a $141.00 price target on Exxon Mobil in a research report on Tuesday, October 7th. Melius Research started coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price objective for the company. Finally, Wall Street Zen upgraded Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and an average price target of $127.00.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president owned 13,829 shares in the company, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.

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.