Comerica Bank Has $176.86 Million Holdings in Exxon Mobil Corporation $XOM

Comerica Bank cut its stake in Exxon Mobil Corporation (NYSE:XOM) by 0.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,487,101 shares of the oil and gas company’s stock after selling 1,356 shares during the period. Exxon Mobil comprises approximately 0.7% of Comerica Bank’s holdings, making the stock its 17th largest holding. Comerica Bank’s holdings in Exxon Mobil were worth $176,861,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of Exxon Mobil in the 1st quarter worth approximately $420,000. Quantitative Investment Management LLC bought a new stake in Exxon Mobil during the 1st quarter worth approximately $6,529,000. Jump Financial LLC grew its position in Exxon Mobil by 1,241.2% during the 1st quarter. Jump Financial LLC now owns 89,350 shares of the oil and gas company’s stock worth $10,626,000 after acquiring an additional 82,688 shares during the last quarter. SVB Wealth LLC grew its position in Exxon Mobil by 5.2% during the 1st quarter. SVB Wealth LLC now owns 163,088 shares of the oil and gas company’s stock worth $19,396,000 after acquiring an additional 8,036 shares during the last quarter. Finally, Cadence Bank grew its position in Exxon Mobil by 0.4% during the 1st quarter. Cadence Bank now owns 212,146 shares of the oil and gas company’s stock worth $25,231,000 after acquiring an additional 834 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on XOM shares. TD Cowen increased their price target on Exxon Mobil from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. Melius Research assumed coverage on shares of Exxon Mobil in a research report on Wednesday. They issued a “hold” rating and a $111.00 price objective for the company. Wells Fargo & Company set a $127.00 price objective on shares of Exxon Mobil and gave the company an “overweight” rating in a research report on Thursday, June 26th. Scotiabank reissued an “outperform” rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Wall Street Zen raised shares of Exxon Mobil from a “sell” rating to a “hold” rating in a report on Sunday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.00.

Exxon Mobil Trading Up 1.7%

Shares of NYSE XOM opened at $111.1220 on Friday. The company’s 50 day simple moving average is $110.24 and its 200 day simple moving average is $108.88. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The firm has a market capitalization of $473.74 billion, a P/E ratio of 15.78, a P/E/G ratio of 2.08 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. During the same period in the prior year, the business posted $2.14 earnings per share. Exxon Mobil’s revenue was down 12.4% compared to the same quarter last year. On average, analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, August 15th. Exxon Mobil’s dividend payout ratio is currently 56.25%.

Exxon Mobil Company 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.