Exxon Mobil Corporation $XOM Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. increased its holdings in shares of Exxon Mobil Corporation (NYSE:XOM) by 6.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 262,848 shares of the oil and gas company’s stock after purchasing an additional 15,901 shares during the quarter. Exxon Mobil accounts for about 0.4% of First Citizens Bank & Trust Co.’s investment portfolio, making the stock its 26th largest holding. First Citizens Bank & Trust Co.’s holdings in Exxon Mobil were worth $28,335,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XOM. GAMMA Investing LLC boosted its holdings in Exxon Mobil by 20.6% in the 1st quarter. GAMMA Investing LLC now owns 79,522 shares of the oil and gas company’s stock worth $9,458,000 after acquiring an additional 13,582 shares during the period. Eagle Capital Management LLC boosted its holdings in Exxon Mobil by 15.3% in the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after acquiring an additional 376 shares during the period. Ironwood Wealth Management LLC. purchased a new position in Exxon Mobil in the 1st quarter worth approximately $200,000. Brucke Financial Inc. boosted its holdings in Exxon Mobil by 2.1% in the 1st quarter. Brucke Financial Inc. now owns 6,792 shares of the oil and gas company’s stock worth $808,000 after acquiring an additional 142 shares during the period. Finally, RAM Investment Partners LLC purchased a new position in Exxon Mobil in the 1st quarter worth approximately $224,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

XOM stock opened at $115.39 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The firm has a market cap of $491.94 billion, a P/E ratio of 16.39, a P/E/G ratio of 2.06 and a beta of 0.51. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21. The stock’s 50 day simple moving average is $112.58 and its 200 day simple moving average is $109.48.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The business had revenue of $57.55 billion for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. As a group, equities research analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 15th. Exxon Mobil’s dividend payout ratio is currently 56.25%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on XOM. Wells Fargo & Company began coverage on Exxon Mobil in a report on Friday, October 17th. They issued an “overweight” rating and a $156.00 price target for the company. Melius initiated coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Thursday, October 9th. Piper Sandler set a $141.00 target price on Exxon Mobil in a research note on Tuesday, October 7th. Finally, Bank of America increased their target price on Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.58.

Insider Activity

In related news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the sale, the vice president directly owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

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.