Bank of New York Mellon Corp Acquires 5,538,694 Shares of Exxon Mobil Co. (NYSE:XOM)

Bank of New York Mellon Corp boosted its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 14.4% during the fourth quarter, Holdings Channel reports. The fund owned 43,983,110 shares of the oil and gas company’s stock after acquiring an additional 5,538,694 shares during the period. Exxon Mobil makes up approximately 0.9% of Bank of New York Mellon Corp’s holdings, making the stock its 14th biggest holding. Bank of New York Mellon Corp’s holdings in Exxon Mobil were worth $4,731,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in XOM. Rockline Wealth Management LLC increased its position in Exxon Mobil by 6.1% in the fourth quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company’s stock worth $2,788,000 after purchasing an additional 1,498 shares during the period. Global Wealth Management Investment Advisory Inc. grew its position in shares of Exxon Mobil by 10.7% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock worth $5,532,000 after buying an additional 4,578 shares during the period. Helen Stephens Group LLC raised its stake in shares of Exxon Mobil by 7.3% during the fourth quarter. Helen Stephens Group LLC now owns 41,637 shares of the oil and gas company’s stock worth $4,479,000 after buying an additional 2,825 shares during the last quarter. Brooklyn Investment Group lifted its holdings in Exxon Mobil by 36.8% in the third quarter. Brooklyn Investment Group now owns 25,127 shares of the oil and gas company’s stock valued at $2,945,000 after buying an additional 6,753 shares during the period. Finally, Parthenon LLC boosted its stake in Exxon Mobil by 2.4% in the third quarter. Parthenon LLC now owns 191,590 shares of the oil and gas company’s stock valued at $22,458,000 after acquiring an additional 4,445 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Up 0.6 %

NYSE:XOM opened at $110.06 on Friday. The stock has a 50-day simple moving average of $108.84 and a 200 day simple moving average of $114.31. Exxon Mobil Co. has a 52-week low of $104.00 and a 52-week high of $126.34. The company has a market cap of $477.58 billion, a PE ratio of 14.04, a PEG ratio of 3.02 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same quarter in the prior year, the firm earned $2.48 EPS. On average, sell-side analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $3.96 annualized dividend and a yield of 3.60%. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

Analyst Upgrades and Downgrades

Several brokerages have commented on XOM. Piper Sandler dropped their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. BMO Capital Markets cut their target price on Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a research note on Friday, January 31st. Truist Financial boosted their target price on Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. UBS Group cut their price target on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, TD Cowen decreased their price objective on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $129.25.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the sale, the vice president now owns 18,087 shares of the company’s stock, valued at approximately $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Company 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.