Montecito Bank & Trust Takes Position in Exxon Mobil Corporation $XOM

Montecito Bank & Trust purchased a new position in Exxon Mobil Corporation (NYSE:XOM) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 26,877 shares of the oil and gas company’s stock, valued at approximately $3,030,000.

A number of other large investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Exxon Mobil in the second quarter worth $6,163,719,000. Kingstone Capital Partners Texas LLC purchased a new stake in Exxon Mobil during the 2nd quarter valued at about $607,621,000. First Trust Advisors LP increased its stake in Exxon Mobil by 150.2% during the 2nd quarter. First Trust Advisors LP now owns 7,602,601 shares of the oil and gas company’s stock valued at $819,560,000 after purchasing an additional 4,563,707 shares in the last quarter. Cerity Partners LLC raised its holdings in Exxon Mobil by 200.7% in the second quarter. Cerity Partners LLC now owns 2,014,446 shares of the oil and gas company’s stock worth $217,162,000 after buying an additional 4,015,099 shares during the last quarter. Finally, Laurel Wealth Advisors LLC lifted its stake in shares of Exxon Mobil by 10,809.8% in the second quarter. Laurel Wealth Advisors LLC now owns 3,095,106 shares of the oil and gas company’s stock worth $333,652,000 after buying an additional 3,066,736 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Piper Sandler lifted their target price on Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a report on Monday, November 10th. TD Cowen boosted their price target on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Wells Fargo & Company increased their price objective on Exxon Mobil from $156.00 to $158.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Finally, BNP Paribas Exane upgraded Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $114.00 price objective for the company in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.45.

Exxon Mobil Stock Down 0.7%

Exxon Mobil stock opened at $116.55 on Friday. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $120.81. The stock has a fifty day moving average of $115.82 and a 200 day moving average of $112.55. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a market cap of $491.51 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 7.41 and a beta of 0.38.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%.The business had revenue of $57.55 billion during the quarter. As a group, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were given a $1.03 dividend. The ex-dividend date was Friday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 3.5%. Exxon Mobil’s payout ratio is 59.88%.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 3,000 shares of Exxon Mobil stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $117.19, for a total transaction of $351,570.00. Following the transaction, the vice president owned 28,584 shares in the company, valued at $3,349,758.96. This trade represents a 9.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

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.