Texas Bank & Trust Co Invests $7.79 Million in Exxon Mobil Co. (NYSE:XOM)

Texas Bank & Trust Co acquired a new position in shares of Exxon Mobil Co. (NYSE:XOM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 72,380 shares of the oil and gas company’s stock, valued at approximately $7,786,000. Exxon Mobil accounts for 3.2% of Texas Bank & Trust Co’s investment portfolio, making the stock its 3rd biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $6,936,737,000. Bank of New York Mellon Corp boosted its stake in Exxon Mobil by 14.4% in the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares during the period. Pacer Advisors Inc. grew its holdings in Exxon Mobil by 1,524.1% in the 4th quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company’s stock valued at $585,818,000 after buying an additional 5,110,603 shares in the last quarter. Franklin Resources Inc. increased its position in Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after buying an additional 4,140,046 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Exxon Mobil by 7.0% during 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. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Trading Down 0.4%

XOM opened at $108.13 on Friday. The company has a market cap of $466.01 billion, a P/E ratio of 13.79, a PEG ratio of 3.02 and a beta of 0.51. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $108.98 and its 200-day moving average is $110.81. Exxon Mobil Co. has a 1-year low of $97.80 and a 1-year high of $126.34.

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

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be issued a $0.99 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.66%. Exxon Mobil’s payout ratio is presently 52.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Bernstein Bank raised their price target on shares of Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. BMO Capital Markets lowered their target price on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a report on Friday, January 31st. Piper Sandler cut their price target on Exxon Mobil from $127.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. UBS Group reduced their price target on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Scotiabank dropped their price objective on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus target price of $125.50.

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.