Comerica Bank increases its position in Exxon Mobil Co. (NYSE:XOM)

VaselineSeptember 29, 2024

0 4 minutes read

Comerica Bank boosted its holdings in Exxon Mobil Co. (NYSE:XOM – Free Report) by 5.4% in the second quarter, Holdings Channel.com reports. The firm owned 1,570,767 shares of the oil and gas company’s stock after purchasing an additional 80,818 shares during the quarter. Exxon Mobil comprises about 0.8% of Comerica Bank’s portfolio, making the stock its 15th largest holding. Comerica Bank’s holdings in Exxon Mobil were worth $180,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of XOM. Vanguard Group Inc. raised its holdings in shares of Exxon Mobil by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after buying an additional 1,269,495 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after buying an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after buying an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s shares.

The Wall Street analyst weighs in

A number of brokerages have recently weighed in on XOM. Barclays reduced their price objective on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. UBS Group cut their price objective on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wolfe Research began coverage on shares of Exxon Mobil in a research report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Truist Financial decreased their price objective on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating on the stock in a research report on Monday, 22nd July. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00, according to MarketBeat.com.

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Read our latest research report on XOM

Exxon Mobil stock performance

Shares of NYSE XOM opened at $115.83 on Friday. The firm has a fifty day moving average price of $115.76 and a 200 day moving average price of $115.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36, and a quick ratio of 1.01. The stock has a market cap of $456.72 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 4.86 and a beta of 0.90. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $123.75.

Exxon Mobil (NYSE:XOM – Get Your Free Report ) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. Exxon Mobil’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the company posted earnings of $1.94 per share. Equity analysts anticipate that Exxon Mobil Co. will post 8.06 earnings per share for the current fiscal year.

Exxon Mobil announces dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15. This represents an annualized dividend of $3.80 and a yield of 3.28%. Exxon Mobil’s payout ratio is 46.57%.

About Exxon Mobil

(Free Report)

Exxon Mobil Corporation is engaged in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through the Upstream, Energy Products, Chemicals and Specialty Products segments. The Upstream segment explores and produces crude oil and natural gas.