Eastern Bank Has $74.66 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Eastern Bank reduced its stake in Exxon Mobil Co. (NYSE:XOM) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 694,033 shares of the oil and gas company’s stock after selling 8,468 shares during the quarter. Exxon Mobil comprises 1.4% of Eastern Bank’s holdings, making the stock its 16th largest holding. Eastern Bank’s holdings in Exxon Mobil were worth $74,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in XOM. Massachusetts Financial Services Co. MA lifted its stake in shares of Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after acquiring an additional 14,158,054 shares during the period. Primecap Management Co. CA acquired a new position in Exxon Mobil in the second quarter valued at approximately $980,210,000. International Assets Investment Management LLC lifted its stake in Exxon Mobil by 7,761.0% in the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after buying an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP lifted its stake in Exxon Mobil by 16.9% in 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 period. Finally, Legal & General Group Plc lifted its stake in Exxon Mobil by 19.3% in 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 period. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Stock Up 2.6 %

XOM stock opened at $109.27 on Tuesday. The stock’s fifty day simple moving average is $113.31 and its two-hundred day simple moving average is $115.61. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The stock has a market cap of $480.25 billion, a P/E ratio of 13.61, a P/E/G ratio of 4.65 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the previous year, the firm earned $2.27 earnings per share. The business’s revenue was down .8% on a year-over-year basis. Analysts expect that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a $0.99 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.62%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is currently 49.32%.

Wall Street Analyst Weigh In

XOM has been the topic of several recent analyst reports. Piper Sandler dropped their price target on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial boosted their price target on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a research note on Monday. Barclays dropped their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley dropped their price target on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. Finally, TD Cowen decreased their price objective on 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, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $128.84.

Exxon Mobil 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.