Burke & Herbert Bank & Trust Co. Trims Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Burke & Herbert Bank & Trust Co. cut its stake in Exxon Mobil Co. (NYSE:XOM) by 4.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,708 shares of the oil and gas company’s stock after selling 3,243 shares during the quarter. Exxon Mobil accounts for 2.1% of Burke & Herbert Bank & Trust Co.’s holdings, making the stock its 6th biggest position. Burke & Herbert Bank & Trust Co.’s holdings in Exxon Mobil were worth $8,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Primecap Management Co. CA acquired a new position in shares of Exxon Mobil in the 2nd quarter valued at $980,210,000. International Assets Investment Management LLC grew its holdings in shares of Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after buying an additional 6,805,982 shares during the period. Capital International Investors increased its position in shares of Exxon Mobil by 25.1% in the 1st 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Exxon Mobil by 16.9% during the 2nd 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 buying an additional 5,330,887 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

Shares of XOM opened at $119.49 on Friday. The company has a market cap of $471.15 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 5.00 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 company’s fifty day simple moving average is $117.54 and its 200 day simple moving average is $116.47. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the firm earned $1.94 EPS. Exxon Mobil’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, research analysts forecast that Exxon Mobil Co. will post 8.05 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.18%. Exxon Mobil’s payout ratio is 45.45%.

Analysts Set New Price Targets

XOM has been the subject of several recent analyst reports. Barclays lowered their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Sanford C. Bernstein lowered their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Truist Financial cut their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Redburn Atlantic reissued a “neutral” rating and set a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Finally, Bank of America assumed coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average price target of $131.44.

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.