Grove Bank & Trust Lowers Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Grove Bank & Trust decreased its position in Exxon Mobil Co. (NYSE:XOM) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,686 shares of the oil and gas company’s stock after selling 1,367 shares during the period. Exxon Mobil comprises 1.0% of Grove Bank & Trust’s portfolio, making the stock its 19th largest holding. Grove Bank & Trust’s holdings in Exxon Mobil were worth $6,996,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Exxon Mobil by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after purchasing an additional 2,676,652 shares during the period. Bank of New York Mellon Corp increased its stake in Exxon Mobil by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after purchasing an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares during the last quarter. Legal & General Group Plc boosted its position in Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Finally, Capital International Investors grew its holdings in Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $124.11 on Tuesday. The business has a 50 day simple moving average of $117.09 and a 200-day simple moving average of $116.40. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The company has a market capitalization of $489.37 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 5.02 and a beta of 0.89. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the company earned $1.94 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts expect that Exxon Mobil Co. will post 8.11 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.06%. Exxon Mobil’s payout ratio is currently 46.57%.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Mizuho boosted their price target on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. UBS Group decreased their price objective on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company lifted their target price on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, BMO Capital Markets raised their price objective on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $131.88.

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.