Citizens Business Bank Sells 12,023 Shares of Exxon Mobil Co. (NYSE:XOM)

Citizens Business Bank lessened its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,185 shares of the oil and gas company’s stock after selling 12,023 shares during the quarter. Exxon Mobil makes up 1.3% of Citizens Business Bank’s portfolio, making the stock its 23rd biggest position. Citizens Business Bank’s holdings in Exxon Mobil were worth $5,950,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. Norges Bank purchased a new stake in Exxon Mobil in the fourth quarter worth about $5,519,753,000. Global Assets Advisory LLC raised its position in shares of Exxon Mobil by 16,399.4% in the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after acquiring an additional 12,540,435 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Exxon Mobil by 566.2% in the 4th quarter. Fisher Asset Management LLC now owns 13,197,713 shares of the oil and gas company’s stock valued at $1,319,507,000 after purchasing an additional 11,216,602 shares during the period. International Assets Investment Management LLC boosted its position in shares of Exxon Mobil by 10,221.0% during the fourth quarter. International Assets Investment Management LLC now owns 4,917,763 shares of the oil and gas company’s stock valued at $491,678,000 after purchasing an additional 4,870,115 shares in the last quarter. Finally, Capital International Investors grew its stake in Exxon Mobil by 22.8% in the fourth quarter. Capital International Investors now owns 21,988,523 shares of the oil and gas company’s stock worth $2,198,413,000 after purchasing an additional 4,084,458 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the sale, the vice president now owns 25,363 shares of the company’s stock, valued at approximately $3,018,450.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on XOM shares. Barclays started coverage on shares of Exxon Mobil in a report on Wednesday, April 10th. They set an “overweight” rating and a $147.00 target price on the stock. Truist Financial reissued a “hold” rating and set a $124.00 price objective (down previously from $146.00) on shares of Exxon Mobil in a research note on Friday, June 7th. HSBC raised their target price on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. Mizuho boosted their price target on Exxon Mobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, Piper Sandler raised their price objective on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.82.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $114.96 on Tuesday. The firm’s 50-day moving average price is $115.25 and its 200-day moving average price is $109.72. Exxon Mobil Co. has a 52-week low of $95.77 and a 52-week high of $123.75. The company has a market cap of $453.29 billion, a PE ratio of 14.09, a PEG ratio of 4.14 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.13). The company had revenue of $83.08 billion during the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.83 EPS. As a group, analysts anticipate that Exxon Mobil Co. will post 9.28 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were issued a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Tuesday, May 14th. Exxon Mobil’s dividend payout ratio is 46.57%.

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.