Grove Bank & Trust Sells 1,736 Shares of Exxon Mobil Co. (NYSE:XOM)

Grove Bank & Trust cut its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,543 shares of the oil and gas company’s stock after selling 1,736 shares during the quarter. Exxon Mobil makes up approximately 1.1% of Grove Bank & Trust’s holdings, making the stock its 17th biggest position. Grove Bank & Trust’s holdings in Exxon Mobil were worth $6,053,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. KB Financial Partners LLC bought a new position in Exxon Mobil in the 1st quarter worth approximately $27,000. IMA Wealth Inc. boosted its stake in Exxon Mobil by 720.0% in the 2nd quarter. IMA Wealth Inc. now owns 369 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 324 shares during the period. FWL Investment Management LLC bought a new position in Exxon Mobil in the 4th quarter worth approximately $43,000. Turim 21 Investimentos Ltda. raised its holdings in shares of Exxon Mobil by 222.5% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 574 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 396 shares in the last quarter. Finally, Studio Investment Management LLC purchased a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $49,000. 61.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of Exxon Mobil stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total value of $252,000.00. Following the transaction, the vice president now owns 30,189 shares in the company, valued at $3,169,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by insiders.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $118.69 on Wednesday. The firm has a market cap of $469.81 billion, a P/E ratio of 13.35, a P/E/G ratio of 4.15 and a beta of 0.96. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75. The stock’s fifty day moving average price is $110.57 and its 200-day moving average price is $106.13.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.28. Exxon Mobil had a return on equity of 18.51% and a net margin of 10.45%. The company had revenue of $84.34 billion for the quarter, compared to analyst estimates of $90.03 billion. During the same quarter in the previous year, the firm earned $3.40 earnings per share. The firm’s quarterly revenue was down 11.6% compared to the same quarter last year. On average, equities research analysts expect that Exxon Mobil Co. will post 9.61 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 14th were paid a $0.95 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.80 annualized dividend and a yield of 3.20%. Exxon Mobil’s dividend payout ratio (DPR) is presently 42.74%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on XOM. Erste Group Bank reaffirmed a “hold” rating on shares of Exxon Mobil in a report on Friday, December 22nd. Piper Sandler decreased their price objective on Exxon Mobil from $142.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price objective on shares of Exxon Mobil in a report on Monday, February 5th. Wells Fargo & Company upped their price objective on Exxon Mobil from $126.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Finally, Barclays began coverage on Exxon Mobil in a report on Wednesday, April 10th. They set an “overweight” rating and a $147.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.44.

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.