First Farmers & Merchants Bank Trust lessened its holdings in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 1.0% during the third quarter, HoldingsChannel.com reports. The fund owned 25,122 shares of the oil and gas company’s stock after selling 261 shares during the period. Exxon Mobil makes up about 2.9% of First Farmers & Merchants Bank Trust’s holdings, making the stock its 5th biggest holding. First Farmers & Merchants Bank Trust’s holdings in Exxon Mobil were worth $2,193,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of XOM. Asset Planning Corporation grew its holdings in shares of Exxon Mobil by 3.8% during the 3rd quarter. Asset Planning Corporation now owns 7,929 shares of the oil and gas company’s stock valued at $692,000 after purchasing an additional 287 shares during the last quarter. AR Asset Management Inc. boosted its position in Exxon Mobil by 178.6% in the third quarter. AR Asset Management Inc. now owns 11,700 shares of the oil and gas company’s stock valued at $1,022,000 after buying an additional 7,500 shares in the last quarter. Graypoint LLC grew its stake in shares of Exxon Mobil by 10.1% during the third quarter. Graypoint LLC now owns 32,635 shares of the oil and gas company’s stock worth $2,849,000 after buying an additional 2,981 shares during the last quarter. Tandem Investment Advisors Inc. increased its holdings in shares of Exxon Mobil by 148.9% during the third quarter. Tandem Investment Advisors Inc. now owns 7,288 shares of the oil and gas company’s stock worth $636,000 after buying an additional 4,360 shares in the last quarter. Finally, apricus wealth LLC lifted its stake in shares of Exxon Mobil by 17.5% in the 3rd quarter. apricus wealth LLC now owns 4,220 shares of the oil and gas company’s stock valued at $368,000 after acquiring an additional 629 shares during the last quarter. Institutional investors and hedge funds own 57.49% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Mizuho upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $140.00 in a research report on Tuesday, January 10th. Cowen boosted their price target on Exxon Mobil to $108.00 in a report on Friday, November 4th. Morgan Stanley raised their price objective on shares of Exxon Mobil from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday, October 19th. Wells Fargo & Company boosted their target price on shares of Exxon Mobil from $120.00 to $122.00 and gave the stock an “overweight” rating in a report on Tuesday, January 10th. Finally, Barclays raised their price target on shares of Exxon Mobil from $111.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.41.
Exxon Mobil Stock Performance
Exxon Mobil (NYSE:XOM – Get Rating) last posted its quarterly earnings results on Friday, October 28th. The oil and gas company reported $4.45 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.57. Exxon Mobil had a net margin of 12.86% and a return on equity of 29.52%. The business had revenue of $112.07 billion during the quarter, compared to analysts’ expectations of $102.96 billion. During the same period last year, the company posted $1.58 earnings per share. The business’s quarterly revenue was up 51.9% on a year-over-year basis. On average, equities analysts forecast that Exxon Mobil Co. will post 13.87 earnings per share for the current year.
Exxon Mobil Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Tuesday, November 15th were paid a dividend of $0.91 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Monday, November 14th. Exxon Mobil’s dividend payout ratio is 29.71%.
Insiders Place Their Bets
In other news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $110.47, for a total transaction of $276,175.00. Following the transaction, the vice president now directly owns 25,363 shares of the company’s stock, valued at $2,801,850.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.
Exxon Mobil Company Profile
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.
- Get a free copy of the StockNews.com research report on Exxon Mobil (XOM)
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