Legacy Trust Sells 342 Shares of Exxon Mobil Co. (NYSE:XOM)

Legacy Trust trimmed its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,784 shares of the oil and gas company’s stock after selling 342 shares during the quarter. Legacy Trust’s holdings in Exxon Mobil were worth $896,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in XOM. Vanguard Group Inc. increased its position in shares of Exxon Mobil by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after purchasing an additional 1,269,495 shares during the last quarter. Norges Bank bought a new stake in shares of Exxon Mobil in the 4th quarter worth approximately $5,519,753,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Exxon Mobil by 6.3% in the 1st 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 purchasing an additional 2,676,652 shares in the last quarter. Capital International Investors grew its stake in shares of Exxon Mobil by 25.1% during 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 buying an additional 5,523,429 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Exxon Mobil by 6.0% in the 4th quarter. Capital Research Global Investors now owns 18,388,299 shares of the oil and gas company’s stock valued at $1,838,462,000 after acquiring an additional 1,037,226 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. HSBC boosted their price objective on Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $145.00 price objective on shares of Exxon Mobil in a research note on Wednesday, May 15th. UBS Group lifted their price objective on Exxon Mobil from $152.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Barclays dropped their price target on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Finally, TD Cowen upped their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $134.39.

Exxon Mobil Price Performance

Shares of XOM traded up $1.56 during mid-day trading on Wednesday, reaching $119.42. The stock had a trading volume of 6,905,009 shares, compared to its average volume of 17,268,434. The business has a fifty day moving average of $114.37 and a 200 day moving average of $113.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The firm has a market cap of $470.87 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 4.51 and a beta of 0.91. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. The business had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the firm earned $1.94 earnings per share. Equities analysts predict that Exxon Mobil Co. will post 8.65 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.18%. Exxon Mobil’s dividend payout ratio 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.