Synovus Financial Corp Acquires 295,988 Shares of Exxon Mobil Co. (NYSE:XOM)

Synovus Financial Corp increased its stake in Exxon Mobil Co. (NYSE:XOM) by 78.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 671,376 shares of the oil and gas company’s stock after purchasing an additional 295,988 shares during the quarter. Exxon Mobil makes up approximately 0.9% of Synovus Financial Corp’s investment portfolio, making the stock its 18th largest position. Synovus Financial Corp’s holdings in Exxon Mobil were worth $78,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in XOM. Eagle Capital Management LLC lifted its stake in Exxon Mobil by 4.9% in the 2nd quarter. Eagle Capital Management LLC now owns 2,460 shares of the oil and gas company’s stock valued at $283,000 after purchasing an additional 114 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Exxon Mobil by 4.6% in the second quarter. Wedge Capital Management L L P NC now owns 6,951 shares of the oil and gas company’s stock valued at $800,000 after buying an additional 306 shares during the last quarter. Montecito Bank & Trust boosted its stake in shares of Exxon Mobil by 1.6% during the 2nd quarter. Montecito Bank & Trust now owns 31,298 shares of the oil and gas company’s stock worth $3,603,000 after acquiring an additional 487 shares during the period. Mattern Wealth Management LLC increased its holdings in shares of Exxon Mobil by 7.0% during the 2nd quarter. Mattern Wealth Management LLC now owns 27,117 shares of the oil and gas company’s stock worth $3,122,000 after acquiring an additional 1,765 shares during the last quarter. Finally, Brown Lisle Cummings Inc. raised its stake in Exxon Mobil by 1.2% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 23,529 shares of the oil and gas company’s stock valued at $2,709,000 after acquiring an additional 273 shares during the period. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Trading Down 0.1 %

NYSE XOM opened at $111.83 on Friday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The business’s fifty day moving average is $119.13 and its 200 day moving average is $116.40. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The company has a market cap of $491.50 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 4.70 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. During the same quarter in the prior year, the firm posted $2.27 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts expect that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently announced 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 was Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a yield of 3.54%. Exxon Mobil’s payout ratio is presently 49.32%.

Analyst Ratings Changes

A number of research firms have commented on XOM. BMO Capital Markets lifted their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. upped their price target on shares of Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. TD Cowen boosted their price objective on Exxon Mobil from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Bank of America initiated coverage on Exxon Mobil in a research note on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price on the stock. Finally, Wolfe Research upped their price objective on Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.84.

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.