Exxon Mobil Co. (NYSE:XOM) Position Lowered by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its position in Exxon Mobil Co. (NYSE:XOM) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,852 shares of the oil and gas company’s stock after selling 989 shares during the quarter. Independence Bank of Kentucky’s holdings in Exxon Mobil were worth $4,264,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 10Elms LLP bought a new position in Exxon Mobil in the fourth quarter worth about $25,000. Fairway Wealth LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $32,000. Keystone Financial Group Inc. bought a new stake in shares of Exxon Mobil in the 4th quarter worth approximately $36,000. Finally, Compass Planning Associates Inc acquired a new position in Exxon Mobil during the 4th quarter valued at approximately $47,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM opened at $104.29 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. The firm’s 50 day moving average is $105.42 and its 200-day moving average is $109.19. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The stock has a market capitalization of $449.45 billion, a P/E ratio of 13.30, a P/E/G ratio of 3.02 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last issued 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. 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%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $2.06 earnings per share. Equities research analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, May 15th. Exxon Mobil’s dividend payout ratio is 52.52%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on XOM. Scotiabank dropped their target price on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. UBS Group lowered their price target on shares of Exxon Mobil from $135.00 to $131.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays reiterated a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Piper Sandler cut shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Finally, Royal Bank of Canada restated a “sector perform” rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, ten have given 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.com, the company has an average 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.