First National Trust Co Raises Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 25th, 2023

First National Trust Co grew its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 192,428 shares of the oil and gas company’s stock after purchasing an additional 14,401 shares during the quarter. Exxon Mobil makes up about 1.1% of First National Trust Co’s investment portfolio, making the stock its 21st biggest position. First National Trust Co’s holdings in Exxon Mobil were worth $21,225,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of Exxon Mobil by 94.1% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock worth $3,463,672,000 after buying an additional 19,230,872 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Exxon Mobil by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock valued at $2,575,190,000 after purchasing an additional 560,517 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Exxon Mobil by 12.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 28,269,263 shares of the oil and gas company’s stock valued at $2,468,477,000 after purchasing an additional 3,094,957 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Exxon Mobil by 2.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,456,421 shares of the oil and gas company’s stock valued at $1,087,570,000 after purchasing an additional 317,096 shares in the last quarter. Finally, Fayez Sarofim & Co increased its holdings in Exxon Mobil by 1.9% in the 3rd quarter. Fayez Sarofim & Co now owns 10,717,955 shares of the oil and gas company’s stock valued at $935,784,000 after purchasing an additional 196,344 shares in the last quarter. 57.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on XOM. Bank of America increased their price target on Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Wells Fargo & Company raised their target price on Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. Morgan Stanley raised their target price on Exxon Mobil from $114.00 to $118.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. HSBC raised their target price on Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research note on Thursday, April 20th. Finally, UBS Group upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and raised their target price for the company from $125.00 to $144.00 in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $124.61.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $118.20 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average price is $111.05 and its two-hundred day moving average price is $110.07. Exxon Mobil Co. has a 52-week low of $79.29 and a 52-week high of $119.63. The stock has a market capitalization of $479.81 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.54 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.08. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. The firm had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $90.21 billion. During the same quarter last year, the company posted $2.05 earnings per share. Exxon Mobil’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that Exxon Mobil Co. will post 9.9 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Tuesday, February 14th were issued a $0.91 dividend. The ex-dividend date was Monday, February 13th. This represents a $3.64 dividend on an annualized basis and a yield of 3.08%. Exxon Mobil’s dividend payout ratio is currently 27.45%.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total transaction of $288,750.00. Following the sale, the vice president now owns 31,772 shares of the company’s stock, valued at $3,669,666. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by corporate insiders.

Exxon Mobil Profile

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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.