Independence Bank of Kentucky Grows Holdings in Exxon Mobil Co. (NYSE:XOM)

Independence Bank of Kentucky grew its stake in Exxon Mobil Co. (NYSE:XOM) by 11.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 29,043 shares of the oil and gas company’s stock after acquiring an additional 3,023 shares during the period. Exxon Mobil comprises 1.0% of Independence Bank of Kentucky’s investment portfolio, making the stock its 20th biggest holding. Independence Bank of Kentucky’s holdings in Exxon Mobil were worth $3,376,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Partnership Wealth Management LLC purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $46,000. Vima LLC purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $50,000. Orion Capital Management LLC purchased a new stake in shares of Exxon Mobil in the 3rd quarter valued at approximately $91,000. Keener Financial Planning LLC purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $80,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $80,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $119.01, for a total value of $288,718.26. Following the completion of the sale, the vice president now owns 25,363 shares in the company, valued at approximately $3,018,450.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on XOM. HSBC lifted their price objective on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. TD Cowen lifted their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley restated an “overweight” rating and issued a $145.00 price objective on shares of Exxon Mobil in a report on Wednesday, May 15th. Piper Sandler lifted their price objective on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Exxon Mobil from $138.00 to $142.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.82.

Exxon Mobil Trading Up 0.2 %

Shares of Exxon Mobil stock opened at $115.12 on Friday. The company has a fifty day simple moving average of $115.25 and a 200-day simple moving average of $109.65. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The stock has a market cap of $453.92 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 4.14 and a beta of 0.92.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The company had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. During the same quarter in the previous year, the company posted $2.83 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts forecast that Exxon Mobil Co. will post 9.28 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were issued a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, May 14th. Exxon Mobil’s payout ratio is 46.57%.

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.