Bangor Savings Bank Cuts Stake in Exxon Mobil Co. (NYSE:XOM)

Bangor Savings Bank lowered its position in shares of Exxon Mobil Co. (NYSE:XOM) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,020 shares of the oil and gas company’s stock after selling 471 shares during the period. Bangor Savings Bank’s holdings in Exxon Mobil were worth $2,880,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. FPC Investment Advisory Inc. purchased a new stake in Exxon Mobil in the first quarter worth about $25,000. First Pacific Financial bought a new position in Exxon Mobil during the first quarter valued at approximately $34,000. Partnership Wealth Management LLC purchased a new position in shares of Exxon Mobil in the fourth quarter valued at $46,000. Lynx Investment Advisory purchased a new position in shares of Exxon Mobil in the 2nd quarter worth $47,000. Finally, Vima LLC bought a new stake in Exxon Mobil during the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 0.9 %

Shares of Exxon Mobil stock traded down $1.02 during trading hours on Tuesday, hitting $117.98. The company’s stock had a trading volume of 5,150,161 shares, compared to its average volume of 17,293,779. The firm has a fifty day moving average of $114.27 and a 200-day moving average of $113.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The stock has a market cap of $465.20 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 4.51 and a beta of 0.91. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Research analysts forecast that Exxon Mobil Co. will post 8.65 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.22%. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Wall Street Analysts Forecast Growth

XOM has been the subject of several analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 price objective on shares of Exxon Mobil in a research note on Tuesday, July 9th. Truist Financial reduced their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a research report on Monday, July 22nd. Wells Fargo & Company cut their price objective on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. UBS Group lifted their price target on Exxon Mobil from $152.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, TD Cowen lifted their price target on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.39.

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.