Associated Banc Corp Sells 22,960 Shares of Exxon Mobil Co. (NYSE:XOM)

Associated Banc Corp decreased its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 505,799 shares of the oil and gas company’s stock after selling 22,960 shares during the period. Exxon Mobil makes up 1.6% of Associated Banc Corp’s investment portfolio, making the stock its 13th largest holding. Associated Banc Corp’s holdings in Exxon Mobil were worth $54,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Rockline Wealth Management LLC boosted its stake in Exxon Mobil by 6.1% during the fourth quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company’s stock worth $2,788,000 after acquiring an additional 1,498 shares in the last quarter. Renasant Bank boosted its stake in Exxon Mobil by 5.0% during the fourth quarter. Renasant Bank now owns 10,369 shares of the oil and gas company’s stock worth $1,115,000 after acquiring an additional 493 shares in the last quarter. Helen Stephens Group LLC boosted its stake in Exxon Mobil by 7.3% during the fourth quarter. Helen Stephens Group LLC now owns 41,637 shares of the oil and gas company’s stock worth $4,479,000 after acquiring an additional 2,825 shares in the last quarter. Brooklyn Investment Group boosted its stake in Exxon Mobil by 36.8% during the third quarter. Brooklyn Investment Group now owns 25,127 shares of the oil and gas company’s stock worth $2,945,000 after acquiring an additional 6,753 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in Exxon Mobil by 41.3% during the third quarter. Hilltop Holdings Inc. now owns 76,288 shares of the oil and gas company’s stock worth $8,942,000 after acquiring an additional 22,296 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler dropped their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley upped their target price on shares of Exxon Mobil from $139.00 to $140.00 in a research note on Friday, January 31st. Scotiabank dropped their target price on shares of Exxon Mobil from $145.00 to $140.00 in a research note on Friday, January 31st. BMO Capital Markets dropped their target price on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a research note on Friday, January 31st. Finally, Argus upgraded shares of Exxon Mobil to a “strong-buy” rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average price target of $129.25.

Insider Activity

In related news, VP Darrin L. Talley sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total value of $231,000.00. Following the transaction, the vice president now owns 18,087 shares of the company’s stock, valued at $1,989,570. This trade represents a 10.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Trading Up 3.0 %

Shares of XOM opened at $111.98 on Friday. Exxon Mobil Co. has a twelve month low of $103.67 and a twelve month high of $126.34. The company has a market cap of $485.90 billion, a P/E ratio of 14.28, a P/E/G ratio of 3.02 and a beta of 0.83. 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 company’s fifty day simple moving average is $109.34 and its 200-day simple moving average is $113.68.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same quarter in the previous year, the company posted $2.48 earnings per share. As a group, analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.54%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil’s dividend payout ratio is currently 50.51%.

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.