Berkshire Bank Grows Stake in Exxon Mobil Co. (NYSE:XOM)

Berkshire Bank increased its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,949 shares of the oil and gas company’s stock after purchasing an additional 475 shares during the period. Exxon Mobil accounts for 1.3% of Berkshire Bank’s holdings, making the stock its 18th biggest holding. Berkshire Bank’s holdings in Exxon Mobil were worth $5,481,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC bought a new position in Exxon Mobil during the fourth quarter valued at approximately $46,000. Peterson Financial Group Inc. purchased a new stake in shares of Exxon Mobil during the 3rd quarter worth approximately $51,000. Highline Wealth Partners LLC bought a new position in shares of Exxon Mobil during the 3rd quarter valued at approximately $54,000. Harbor Capital Advisors Inc. purchased a new position in shares of Exxon Mobil in the third quarter valued at $63,000. Finally, Annapolis Financial Services LLC increased its position in Exxon Mobil by 284.9% in the third quarter. Annapolis Financial Services LLC now owns 766 shares of the oil and gas company’s stock worth $90,000 after purchasing an additional 567 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on XOM. Truist Financial increased their price objective on shares of Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Mizuho dropped their price target on Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wolfe Research upped their price objective on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Friday, October 4th. Finally, The Goldman Sachs Group increased their price target on Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $128.84.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $108.69 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The firm has a market cap of $477.69 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 2.86 and a beta of 0.91. The firm’s 50 day simple moving average is $111.14 and its 200-day simple moving average is $115.38. Exxon Mobil Co. has a one year low of $100.42 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $93.98 billion. During the same period in the previous year, the company posted $2.27 EPS. Exxon Mobil’s revenue was down .8% on a year-over-year basis. As a group, equities analysts predict that Exxon Mobil Co. will post 7.77 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.64%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s dividend payout ratio is presently 49.32%.

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.