Essex Savings Bank Has $19.25 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Essex Savings Bank trimmed its stake in Exxon Mobil Co. (NYSE:XOM) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 178,976 shares of the oil and gas company’s stock after selling 468 shares during the period. Exxon Mobil accounts for about 4.8% of Essex Savings Bank’s investment portfolio, making the stock its 3rd largest position. Essex Savings Bank’s holdings in Exxon Mobil were worth $19,252,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Exxon Mobil by 0.3% during the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after acquiring an additional 395,218 shares during the period. Geode Capital Management LLC lifted its position in shares of Exxon Mobil by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock worth $10,777,735,000 after purchasing an additional 1,622,064 shares during the last quarter. Legal & General Group Plc boosted its stake in Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. Franklin Resources Inc. grew its holdings in Exxon Mobil by 16.3% in the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after buying an additional 4,415,012 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Exxon Mobil by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,160,117 shares of the oil and gas company’s stock worth $3,652,589,000 after buying an additional 146,374 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on XOM shares. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price objective on shares of Exxon Mobil in a research report on Thursday, December 12th. TD Cowen decreased their target price on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Finally, Morgan Stanley cut their price target on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.84.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $111.32 on Friday. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The firm’s 50-day moving average price is $112.93 and its two-hundred day moving average price is $115.55. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $489.27 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 2.70 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The firm had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business’s revenue was down .8% on a year-over-year basis. During the same period last year, the firm posted $2.27 EPS. On average, equities analysts predict that Exxon Mobil Co. will post 7.86 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.56%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

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.