Burke & Herbert Bank & Trust Co. Sells 3,243 Shares of Exxon Mobil Co. (NYSE:XOM)

Burke & Herbert Bank & Trust Co. cut its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 4.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 76,708 shares of the oil and gas company’s stock after selling 3,243 shares during the quarter. Exxon Mobil makes up 2.1% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 6th largest position. Burke & Herbert Bank & Trust Co.’s holdings in Exxon Mobil were worth $8,992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in XOM. Sunburst Financial Group LLC raised its stake in Exxon Mobil by 4.6% in the 1st quarter. Sunburst Financial Group LLC now owns 3,112 shares of the oil and gas company’s stock worth $364,000 after purchasing an additional 138 shares in the last quarter. Tarbox Family Office Inc. increased its holdings in shares of Exxon Mobil by 4.1% during the first quarter. Tarbox Family Office Inc. now owns 7,060 shares of the oil and gas company’s stock worth $821,000 after purchasing an additional 276 shares during the period. Dohj LLC increased its holdings in shares of Exxon Mobil by 8.2% during the first quarter. Dohj LLC now owns 7,974 shares of the oil and gas company’s stock worth $927,000 after purchasing an additional 606 shares during the period. Transform Wealth LLC boosted its stake in shares of Exxon Mobil by 4.6% in the first quarter. Transform Wealth LLC now owns 129,244 shares of the oil and gas company’s stock valued at $15,023,000 after buying an additional 5,625 shares during the period. Finally, Cypress Wealth Services LLC grew its position in Exxon Mobil by 2.6% during the first quarter. Cypress Wealth Services LLC now owns 13,074 shares of the oil and gas company’s stock worth $1,520,000 after buying an additional 334 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on XOM shares. Bank of America initiated coverage on Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective for the company. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Sanford C. Bernstein reduced their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. UBS Group dropped their target price on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company increased their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.44.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $119.49 on Friday. The business has a 50 day moving average of $117.54 and a 200-day moving average of $116.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34. The company has a market capitalization of $471.15 billion, a P/E ratio of 14.29, a P/E/G ratio of 5.00 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter last year, the firm earned $1.94 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities research analysts predict that Exxon Mobil Co. will post 8.05 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is presently 45.45%.

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.