First Republic Investment Management Inc. Has $316.53 Million Stake in Exxon Mobil Co. (NYSE:XOM)

First Republic Investment Management Inc. boosted its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 5.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,625,355 shares of the oil and gas company’s stock after purchasing an additional 201,326 shares during the period. Exxon Mobil makes up approximately 0.8% of First Republic Investment Management Inc.’s holdings, making the stock its 19th biggest position. First Republic Investment Management Inc.’s holdings in Exxon Mobil were worth $316,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Citizens Business Bank acquired a new position in shares of Exxon Mobil during the third quarter valued at about $6,449,000. Eudaimonia Advisors LLC raised its holdings in shares of Exxon Mobil by 3.0% during the third quarter. Eudaimonia Advisors LLC now owns 10,338 shares of the oil and gas company’s stock valued at $903,000 after purchasing an additional 300 shares during the period. Financial Management Network Inc. raised its holdings in shares of Exxon Mobil by 6.0% during the third quarter. Financial Management Network Inc. now owns 6,347 shares of the oil and gas company’s stock valued at $605,000 after purchasing an additional 362 shares during the period. Salomon & Ludwin LLC raised its holdings in shares of Exxon Mobil by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 15,079 shares of the oil and gas company’s stock valued at $1,317,000 after purchasing an additional 5,783 shares during the period. Finally, Stock Yards Bank & Trust Co. raised its holdings in shares of Exxon Mobil by 2.5% during the third quarter. Stock Yards Bank & Trust Co. now owns 314,533 shares of the oil and gas company’s stock valued at $27,462,000 after purchasing an additional 7,808 shares during the period. Institutional investors and hedge funds own 57.49% of the company’s stock.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $105.00, for a total value of $262,500.00. Following the completion of the sale, the vice president now directly owns 34,272 shares of the company’s stock, valued at approximately $3,598,560. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on XOM shares. Truist Financial boosted their target price on shares of Exxon Mobil from $111.00 to $114.00 in a research report on Monday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Exxon Mobil from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 18th. StockNews.com downgraded shares of Exxon Mobil from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company boosted their target price on shares of Exxon Mobil from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 10th. Finally, Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $120.00 to $135.00 in a research report on Tuesday, January 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average price target of $114.35.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $113.81 on Wednesday. The stock has a market capitalization of $468.70 billion, a P/E ratio of 9.29, a PEG ratio of 0.48 and a beta of 1.11. The company has a current ratio of 1.34, a quick ratio of 1.02 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $109.54 and its 200 day moving average is $101.20. Exxon Mobil Co. has a 12 month low of $71.39 and a 12 month high of $126.54.

Exxon Mobil (NYSE:XOM – Get Rating) last posted its earnings results on Friday, October 28th. The oil and gas company reported $4.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.88 by $0.57. The business had revenue of $112.07 billion for the quarter, compared to analysts’ expectations of $102.96 billion. Exxon Mobil had a net margin of 12.86% and a return on equity of 29.52%. The business’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. On average, sell-side analysts anticipate that Exxon Mobil Co. will post 13.92 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Tuesday, November 15th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, November 14th. This represents a $3.64 annualized dividend and a dividend yield of 3.20%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.88. Exxon Mobil’s dividend payout ratio (DPR) is currently 29.71%.

About Exxon Mobil

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Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.