Comerica Bank Increases Position in Exxon Mobil Co. (NYSE:XOM)

Comerica Bank boosted its holdings in Exxon Mobil Co. (NYSE:XOM) by 5.4% during the second quarter, Holdings Channel.com reports. The firm owned 1,570,767 shares of the oil and gas company’s stock after acquiring an additional 80,818 shares during the quarter. Exxon Mobil comprises about 0.8% of Comerica Bank’s portfolio, making the stock its 15th largest holding. Comerica Bank’s holdings in Exxon Mobil were worth $180,827,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of XOM. Vanguard Group Inc. grew its holdings in shares of Exxon Mobil by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after buying an additional 1,269,495 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after buying an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after buying an additional 4,080,716 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after buying an additional 5,235,607 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on XOM. Barclays lowered their price objective on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. UBS Group lowered their price objective on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wolfe Research began coverage on shares of Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Truist Financial lowered their price objective on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $115.83 on Friday. The firm has a fifty day moving average price of $115.76 and a 200-day moving average price of $115.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The stock has a market cap of $456.72 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 4.86 and a beta of 0.90. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. Exxon Mobil’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted $1.94 earnings per share. Equities analysts anticipate that Exxon Mobil Co. will post 8.06 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.28%. Exxon Mobil’s 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.