Eastern Bank Cuts Stake in Exxon Mobil Corporation $XOM

Eastern Bank cut its position in Exxon Mobil Corporation (NYSE:XOM) by 4.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 684,878 shares of the oil and gas company’s stock after selling 30,359 shares during the period. Exxon Mobil makes up about 1.4% of Eastern Bank’s investment portfolio, making the stock its 20th largest holding. Eastern Bank’s holdings in Exxon Mobil were worth $77,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Linscomb Wealth Inc. grew its stake in shares of Exxon Mobil by 1.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock valued at $42,017,000 after acquiring an additional 5,527 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Exxon Mobil by 3.3% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 306,658 shares of the oil and gas company’s stock valued at $34,576,000 after purchasing an additional 9,831 shares in the last quarter. Capital Counsel LLC NY boosted its position in shares of Exxon Mobil by 0.9% in the second quarter. Capital Counsel LLC NY now owns 49,687 shares of the oil and gas company’s stock worth $5,356,000 after purchasing an additional 460 shares during the period. OneAscent Wealth Management LLC increased its stake in shares of Exxon Mobil by 116.7% in the second quarter. OneAscent Wealth Management LLC now owns 7,657 shares of the oil and gas company’s stock worth $825,000 after purchasing an additional 4,123 shares in the last quarter. Finally, Regency Capital Management Inc. DE increased its stake in shares of Exxon Mobil by 1,082.3% in the third quarter. Regency Capital Management Inc. DE now owns 31,992 shares of the oil and gas company’s stock worth $3,607,000 after purchasing an additional 29,286 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Mizuho lifted their target price on shares of Exxon Mobil from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. BNP Paribas Exane upgraded Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $114.00 price objective on the stock in a research report on Monday, December 8th. Sanford C. Bernstein cut their target price on Exxon Mobil from $142.00 to $137.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Bank of America decreased their target price on Exxon Mobil from $119.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, December 11th. Finally, Zacks Research downgraded Exxon Mobil from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Exxon Mobil currently has an average rating of “Hold” and an average price target of $130.25.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 3,000 shares of Exxon Mobil stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $117.19, for a total value of $351,570.00. Following the completion of the transaction, the vice president directly owned 28,584 shares of the company’s stock, valued at $3,349,758.96. This trade represents a 9.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.03% of the stock is owned by company insiders.

Exxon Mobil Price Performance

NYSE:XOM opened at $129.02 on Friday. The business’s 50-day moving average is $119.12 and its 200 day moving average is $114.38. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $131.72. The company has a market capitalization of $544.10 billion, a P/E ratio of 18.75, a P/E/G ratio of 8.07 and a beta of 0.37. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.16. The business had revenue of $83.33 billion during the quarter, compared to analysts’ expectations of $83.09 billion. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%.The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 EPS. On average, equities research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 14th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 3.2%. Exxon Mobil’s payout ratio is currently 59.88%.

Exxon Mobil News Roundup

Here are the key news stories impacting Exxon Mobil this week:

• Positive Sentiment: Exxon awarded a contract to Shearwater Geoservices to acquire 3D deepwater seismic over a large block offshore Trinidad & Tobago — a sign of continued investment in exploration that supports future production growth. Exxon awards contract to acquire deepwater seismic offshore Trinidad and Tobago
• Positive Sentiment: Analysts/commentary argue Exxon remains a “solid hold” given low leverage and premium assets — factors that reduce downside risk if oil stays weak. Exxon Mobil: A Solid Hold Even If Venezuela Is ‘Uninvestable’
• Positive Sentiment: Noted investor coverage: CNBC commentator Joshua Brown named XOM on a televised “final trades” list — a small but positive retail/influencer signal. Delta Air, Exxon Mobil, TKO Group And A Financial Stock On CNBC’s ‘Final Trades’
• Neutral Sentiment: Commentary highlights that ongoing assessment of Venezuelan assets and upcoming earnings keep investor focus on geopolitical and operational optionality — a watch item rather than an immediate catalyst. Exxon Mobil Corp. Holds Ground As Venezuela Assessment And Earnings Activity Drive Focus
• Neutral Sentiment: Political commentary claiming large Venezuelan oil flows to the U.S. is circulating — this could influence crude sentiment broadly but is speculative and not a company-specific operational development. Trump Says He’s Going To Make Venezuela ‘Strong’ Again…
• Negative Sentiment: Exxon warned of lower Q4 earnings tied to the drop in crude prices — a direct earnings headwind that helps explain selling pressure. Exxon Mobil (XOM) Forecasts Lower Q4 Earnings Due to Decline in Crude Prices
• Negative Sentiment: Shell and Exxon halted the planned sale of U.K. North Sea gas assets to Viaro Energy after regulatory/market issues — the cancellation removes an expected divestment and potential near-term cash/income clarity. Shell and Exxon halt UK gas asset sale to Viaro Energy
• Neutral Sentiment: Macro note: analysis flags WTI around ~$60 as likely to remain soft — negative for upstream margins but partially offset by Exxon’s low leverage and integrated refining/chemical margins. Crude Oil Price Will Likely Remain Soft: Will ExxonMobil Suffer?

Exxon Mobil Profile

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.