Midwest Trust Co Takes $68.85 Million Position in Exxon Mobil Corporation $XOM

Midwest Trust Co bought a new position in Exxon Mobil Corporation (NYSE:XOM) during the second quarter, HoldingsChannel reports. The fund bought 638,707 shares of the oil and gas company’s stock, valued at approximately $68,853,000. Exxon Mobil accounts for 1.0% of Midwest Trust Co’s investment portfolio, making the stock its 22nd biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in shares of Exxon Mobil by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock worth $5,023,298,000 after buying an additional 1,274,860 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Exxon Mobil by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after acquiring an additional 512,860 shares during the period. Ameriprise Financial Inc. increased its holdings in Exxon Mobil by 10.8% in the 1st quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock worth $3,213,848,000 after acquiring an additional 2,639,797 shares in the last quarter. Amundi raised its stake in Exxon Mobil by 9.7% during the 1st quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock worth $2,966,598,000 after acquiring an additional 2,329,964 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Exxon Mobil by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock valued at $3,028,968,000 after purchasing an additional 909,386 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $117.19 on Friday. The company has a market cap of $494.19 billion, a P/E ratio of 16.65, a P/E/G ratio of 2.06 and a beta of 0.49. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $123.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The firm’s fifty day moving average is $113.45 and its two-hundred day moving average is $110.28.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The firm had revenue of $57.55 billion during the quarter. As a group, analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, November 14th. This represents a $4.12 annualized dividend and a yield of 3.5%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is 59.88%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Wells Fargo & Company initiated coverage on shares of Exxon Mobil in a report on Friday, October 17th. They issued an “overweight” rating and a $156.00 target price for the company. Piper Sandler set a $141.00 price target on Exxon Mobil in a report on Tuesday, October 7th. Barclays lowered their price objective on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.50.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the sale, the vice president owned 13,829 shares of the company’s stock, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.03% of the stock is currently owned by insiders.

About Exxon Mobil

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.