Farmers Trust Co. Lowers Position in Exxon Mobil Corporation (XOM)

Farmers Trust Co. decreased its stake in Exxon Mobil Corporation (NYSE:XOM) by 5.7% during the first quarter, Holdings Channel reports. The institutional investor owned 87,158 shares of the oil and gas company’s stock after selling 5,306 shares during the period. Exxon Mobil Corporation makes up approximately 2.5% of Farmers Trust Co.’s holdings, making the stock its 7th largest position. Farmers Trust Co.’s holdings in Exxon Mobil Corporation were worth $7,148,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of XOM. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Exxon Mobil Corporation during the fourth quarter valued at $101,000. Psagot Investment House Ltd. purchased a new stake in shares of Exxon Mobil Corporation during the fourth quarter valued at $119,000. Empirical Finance LLC purchased a new stake in shares of Exxon Mobil Corporation during the fourth quarter valued at $172,000. Cordasco Financial Network boosted its stake in shares of Exxon Mobil Corporation by 0.6% in the first quarter. Cordasco Financial Network now owns 2,332 shares of the oil and gas company’s stock valued at $191,000 after buying an additional 15 shares during the period. Finally, Mosaic Financial Partners Inc. purchased a new stake in shares of Exxon Mobil Corporation during the fourth quarter valued at $202,000. 50.98% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Exxon Mobil Corporation (NYSE:XOM)

Exxon Mobil Corporation (NYSE:XOM) opened at 83.49 on Friday. The firm has a market cap of $353.77 billion, a P/E ratio of 34.83 and a beta of 0.86. Exxon Mobil Corporation has a 1-year low of $79.26 and a 1-year high of $95.55. The stock’s 50 day moving average price is $81.90 and its 200 day moving average price is $83.90. Exxon Mobil Corporation also was the target of some unusual options trading on Thursday. Investors acquired 30,467 put options on the stock. This is an increase of approximately 115% compared to the average daily volume of 14,191 put options.

Exxon Mobil Corporation (NYSE:XOM) last announced its earnings results on Friday, April 28th. The oil and gas company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. Exxon Mobil Corporation had a return on equity of 6.78% and a net margin of 4.17%. The business had revenue of $63.29 billion during the quarter, compared to analysts’ expectations of $64.88 billion. During the same quarter last year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. Equities research analysts predict that Exxon Mobil Corporation will post $3.90 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 12th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.69%. This is an increase from Exxon Mobil Corporation’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, May 10th. Exxon Mobil Corporation’s dividend payout ratio is currently 128.33%.

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Several brokerages recently weighed in on XOM. Vetr cut shares of Exxon Mobil Corporation from a “buy” rating to a “hold” rating and set a $85.59 target price on the stock. in a report on Thursday, March 30th. Scotiabank set a $90.00 target price on shares of Exxon Mobil Corporation and gave the company a “hold” rating in a report on Thursday, March 2nd. Credit Suisse Group raised shares of Exxon Mobil Corporation from an “underperform” rating to a “neutral” rating and set a $83.00 target price on the stock in a report on Thursday, March 2nd. They noted that the move was a valuation call. Morgan Stanley reaffirmed a “sell” rating and issued a $84.00 target price on shares of Exxon Mobil Corporation in a report on Thursday, April 13th. Finally, HSBC Holdings plc reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Exxon Mobil Corporation in a report on Thursday, April 13th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Exxon Mobil Corporation has a consensus rating of “Hold” and an average price target of $89.18.

Exxon Mobil Corporation Company Profile

Exxon Mobil Corporation is engaged in energy business. The Company is engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.

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