Berkshire Bank Reduces Holdings in Exxon Mobil Corporation (NYSE:XOM)

Berkshire Bank cut its stake in Exxon Mobil Corporation (NYSE:XOM) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,549 shares of the oil and gas company’s stock after selling 1,400 shares during the period. Exxon Mobil comprises approximately 1.4% of Berkshire Bank’s portfolio, making the stock its 15th largest position. Berkshire Bank’s holdings in Exxon Mobil were worth $5,893,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. 10Elms LLP purchased a new stake in Exxon Mobil in the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new position in Exxon Mobil in the fourth quarter valued at $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter valued at about $32,000. Compass Planning Associates Inc acquired a new stake in shares of Exxon Mobil during the fourth quarter worth about $47,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Trading Up 1.4%

Shares of XOM opened at $114.07 on Wednesday. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $126.34. The firm has a market capitalization of $491.58 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 2.25 and a beta of 0.49. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $105.91 and its 200 day simple moving average is $108.66.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The company had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. During the same quarter in the prior year, the business earned $2.06 earnings per share. The business’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.47%. Exxon Mobil’s payout ratio is currently 52.52%.

Analysts Set New Price Targets

A number of research firms recently weighed in on XOM. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Barclays reiterated a “hold” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Mizuho reduced their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. UBS Group lowered their price objective on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Scotiabank cut their target price on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.