Exxon Mobil Co. (NYSE:XOM) Shares Acquired by Eastern Bank

Eastern Bank lifted its stake in Exxon Mobil Co. (NYSE:XOM) by 939.0% in the 3rd quarter, Holdings Channel reports. The firm owned 702,501 shares of the oil and gas company’s stock after purchasing an additional 634,888 shares during the quarter. Exxon Mobil accounts for approximately 1.5% of Eastern Bank’s portfolio, making the stock its 15th biggest position. Eastern Bank’s holdings in Exxon Mobil were worth $82,347,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in XOM. Price T Rowe Associates Inc. MD increased its position in shares of Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after buying an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Exxon Mobil by 11.3% during 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 acquiring an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 5,330,887 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Finally, Capital International Investors grew its position in shares of 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. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on XOM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research note on Tuesday, October 8th. Truist Financial decreased their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Mizuho boosted their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Morgan Stanley reduced their target price on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, Barclays lowered their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $131.44.

Exxon Mobil Trading Down 0.4 %

Shares of XOM opened at $120.27 on Thursday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $126.34. The firm has a market capitalization of $474.23 billion, a P/E ratio of 14.74, 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. The stock’s fifty day simple moving average is $117.49 and its 200 day simple moving average is $116.49.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period last year, the business posted $1.94 EPS. On average, equities research analysts forecast that Exxon Mobil Co. will post 8.11 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a yield of 3.16%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

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.