SouthState Corp Has $5.24 Million Stake in Exxon Mobil Co. (NYSE:XOM)

SouthState Corp trimmed its stake in shares of Exxon Mobil Co. (NYSE:XOMGet Rating) by 29.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,430 shares of the oil and gas company’s stock after selling 26,281 shares during the period. SouthState Corp’s holdings in Exxon Mobil were worth $5,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Exxon Mobil in the 4th quarter valued at about $3,184,424,000. GQG Partners LLC increased its position in Exxon Mobil by 21.8% in the 4th quarter. GQG Partners LLC now owns 32,397,153 shares of the oil and gas company’s stock valued at $1,982,114,000 after acquiring an additional 5,807,202 shares during the period. Renaissance Technologies LLC increased its position in Exxon Mobil by 134.3% in the 4th quarter. Renaissance Technologies LLC now owns 6,313,354 shares of the oil and gas company’s stock valued at $386,314,000 after acquiring an additional 3,619,270 shares during the period. Geode Capital Management LLC increased its position in Exxon Mobil by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 70,815,006 shares of the oil and gas company’s stock valued at $4,322,078,000 after acquiring an additional 3,441,825 shares during the period. Finally, American Century Companies Inc. increased its position in Exxon Mobil by 324.1% in the 4th quarter. American Century Companies Inc. now owns 2,618,221 shares of the oil and gas company’s stock valued at $160,209,000 after acquiring an additional 2,000,928 shares during the period. 54.07% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Trading Down 4.2 %

Exxon Mobil stock opened at $87.19 on Friday. Exxon Mobil Co. has a 12-month low of $52.10 and a 12-month high of $105.57. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $367.29 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 0.32 and a beta of 1.09. The firm has a 50 day moving average of $91.11 and a 200 day moving average of $85.81.

Exxon Mobil (NYSE:XOMGet Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $4.14 EPS for the quarter, beating analysts’ consensus estimates of $3.74 by $0.40. The firm had revenue of $115.68 billion during the quarter, compared to the consensus estimate of $111.67 billion. Exxon Mobil had a return on equity of 23.82% and a net margin of 10.67%. The company’s quarterly revenue was up 70.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. As a group, research analysts predict that Exxon Mobil Co. will post 12.24 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 12th will be paid a $0.88 dividend. The ex-dividend date is Thursday, August 11th. This represents a $3.52 dividend on an annualized basis and a yield of 4.04%. Exxon Mobil’s payout ratio is 38.51%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $96.65, for a total transaction of $241,625.00. Following the sale, the vice president now owns 32,510 shares of the company’s stock, valued at $3,142,091.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $96.65, for a total value of $241,625.00. Following the completion of the sale, the vice president now owns 32,510 shares of the company’s stock, valued at $3,142,091.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Darrin L. Talley sold 2,147 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $102.81, for a total value of $220,733.07. Following the completion of the sale, the vice president now directly owns 30,363 shares of the company’s stock, valued at approximately $3,121,620.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,147 shares of company stock worth $698,858. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada upgraded shares of Exxon Mobil from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $90.00 to $100.00 in a research report on Thursday, April 21st. Citigroup upped their price objective on shares of Exxon Mobil from $80.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, May 19th. Credit Suisse Group raised shares of Exxon Mobil from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $115.00 to $125.00 in a research note on Tuesday, June 21st. The Goldman Sachs Group upped their price objective on shares of Exxon Mobil from $104.00 to $117.00 and gave the company a “buy” rating in a research note on Wednesday, June 8th. Finally, StockNews.com lowered shares of Exxon Mobil from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $96.40.

Exxon Mobil Company Profile

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Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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