Cadence Bank Lowers Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Cadence Bank reduced its position in Exxon Mobil Co. (NYSE:XOM) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 211,312 shares of the oil and gas company’s stock after selling 7,359 shares during the quarter. Exxon Mobil accounts for about 1.5% of Cadence Bank’s holdings, making the stock its 12th largest holding. Cadence Bank’s holdings in Exxon Mobil were worth $22,731,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Exxon Mobil by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after acquiring an additional 1,104,617 shares during the last quarter. Norges Bank bought a new stake in Exxon Mobil in the fourth quarter valued at approximately $6,936,737,000. Bank of New York Mellon Corp boosted its stake in shares of Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares during the period. Franklin Resources Inc. grew its holdings in shares of Exxon Mobil by 13.1% in the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Exxon Mobil by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,860,532 shares of the oil and gas company’s stock worth $3,427,237,000 after acquiring an additional 700,415 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the transaction, the vice president now owns 18,087 shares in the company, valued at $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is owned by insiders.

Exxon Mobil Stock Performance

XOM opened at $106.84 on Friday. The firm has a market capitalization of $462.12 billion, a PE ratio of 13.63, a P/E/G ratio of 3.02 and a beta of 0.61. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The firm has a 50 day moving average of $109.92 and a two-hundred day moving average of $112.90. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same period in the previous year, the business posted $2.48 earnings per share. On average, analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

Analysts Set New Price Targets

XOM has been the topic of several research analyst reports. Argus upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group cut their price objective on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Barclays lowered their price target on Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Bernstein Bank raised their target price on shares of Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Truist Financial upped their price target on shares of Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.75.

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.