Exxon Mobil Co. (NYSE:XOM) Position Increased by Grove Bank & Trust

Grove Bank & Trust increased its position in shares of Exxon Mobil Co. (NYSE:XOM) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,434 shares of the oil and gas company’s stock after acquiring an additional 2,047 shares during the period. Exxon Mobil comprises approximately 1.0% of Grove Bank & Trust’s portfolio, making the stock its 22nd biggest holding. Grove Bank & Trust’s holdings in Exxon Mobil were worth $7,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick bought a new position in Exxon Mobil during the fourth quarter valued at about $789,000. Union Bancaire Privee UBP SA bought a new position in Exxon Mobil during the fourth quarter valued at about $48,348,000. SOA Wealth Advisors LLC. raised its holdings in Exxon Mobil by 29.5% during the fourth quarter. SOA Wealth Advisors LLC. now owns 6,996 shares of the oil and gas company’s stock valued at $753,000 after buying an additional 1,595 shares in the last quarter. MGB Wealth Management LLC raised its holdings in Exxon Mobil by 7.5% during the fourth quarter. MGB Wealth Management LLC now owns 8,946 shares of the oil and gas company’s stock valued at $957,000 after buying an additional 621 shares in the last quarter. Finally, Avestar Capital LLC raised its holdings in Exxon Mobil by 2.8% during the fourth quarter. Avestar Capital LLC now owns 25,300 shares of the oil and gas company’s stock valued at $2,722,000 after buying an additional 683 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on XOM. UBS Group cut their target price on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Barclays reiterated a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Royal Bank of Canada reiterated a “sector perform” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Mizuho dropped their price objective 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, Piper Sandler lowered Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.50.

Exxon Mobil Stock Performance

NYSE:XOM opened at $112.48 on Tuesday. Exxon Mobil Co. has a 1 year low of $97.80 and a 1 year high of $126.34. The firm has a 50 day moving average of $105.75 and a 200-day moving average of $108.62. 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 stock has a market capitalization of $484.73 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 3.02 and a beta of 0.49.

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

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.52%. The ex-dividend date was Thursday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is 52.52%.

Exxon Mobil Company 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.