ExxonMobil Corporation $XOM is Trustco Bank Corp N Y’s 10th Largest Position

Trustco Bank Corp N Y decreased its position in ExxonMobil Corporation (NYSE:XOM) by 15.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,619 shares of the oil and gas company’s stock after selling 5,599 shares during the period. ExxonMobil accounts for 3.3% of Trustco Bank Corp N Y’s holdings, making the stock its 10th biggest position. Trustco Bank Corp N Y’s holdings in ExxonMobil were worth $3,685,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of ExxonMobil during the 4th quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp lifted its holdings in shares of ExxonMobil by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp raised its position in ExxonMobil by 1.0% in the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after purchasing an additional 445,283 shares during the period. Franklin Resources Inc. raised its position in ExxonMobil by 7.4% in the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after purchasing an additional 2,660,910 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in ExxonMobil by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after purchasing an additional 293,446 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Wells Fargo & Company boosted their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. HSBC boosted their price objective on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a research note on Friday, March 20th. Scotiabank upped their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $165.55.

ExxonMobil Stock Down 4.2%

Shares of ExxonMobil stock opened at $140.86 on Tuesday. The company has a market cap of $583.84 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The company’s 50 day moving average is $151.69 and its 200 day moving average is $142.73. ExxonMobil Corporation has a twelve month low of $105.53 and a twelve month high of $176.41. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 earnings per share. Research analysts anticipate that ExxonMobil Corporation will post 11.8 EPS for the current year.

ExxonMobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 69.48%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil applied for environmental authorization for a 35-well exploration campaign offshore Guyana, signaling continued investment in one of its most important long-term growth areas. Exxon Mobil seeks environmental permit for exploration in offshore Guyana
• Positive Sentiment: Analysts noted that stronger oil prices could still boost ExxonMobil’s energy business because its low-cost Permian and Guyana assets are well positioned to benefit in a favorable crude market. Will Strong Oil Prices Boost ExxonMobil’s Energy Business?
• Neutral Sentiment: Reports that ExxonMobil is weighing an early-stage bid for Woodside Energy were followed by Woodside denying any takeover talks, making the M&A speculation unclear for investors. ExxonMobil weighs early stage bid for Woodside Energy Group
• Negative Sentiment: ExxonMobil stock fell as the broader market rose, reflecting a sector-specific selloff tied to weaker oil prices and reduced optimism for near-term energy earnings. Exxon Mobil (XOM) Stock Falls Amid Market Uptick: What Investors Need to Know

ExxonMobil Profile

ExxonMobil 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.