Trustco Bank Corp N Y Trims Stake in ExxonMobil Corporation $XOM

Trustco Bank Corp N Y reduced its stake in ExxonMobil Corporation (NYSE:XOM) by 15.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,619 shares of the oil and gas company’s stock after selling 5,599 shares during the period. ExxonMobil accounts for approximately 3.3% of Trustco Bank Corp N Y’s holdings, making the stock its 10th largest holding. Trustco Bank Corp N Y’s holdings in ExxonMobil were worth $3,685,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Twin City Private Wealth LLC raised its stake in ExxonMobil by 1.0% during the 4th quarter. Twin City Private Wealth LLC now owns 21,500 shares of the oil and gas company’s stock worth $2,587,000 after buying an additional 222 shares during the period. Tamar Securities LLC raised its stake in shares of ExxonMobil by 1.1% in the 4th quarter. Tamar Securities LLC now owns 169,728 shares of the oil and gas company’s stock valued at $20,425,000 after purchasing an additional 1,929 shares during the period. Tenzing Financial LLC acquired a new stake in shares of ExxonMobil in the 4th quarter valued at about $305,000. TritonPoint Partners LLC acquired a new stake in shares of ExxonMobil in the 4th quarter valued at about $1,135,000. Finally, Zinnia Wealth Advisory LLC acquired a new stake in shares of ExxonMobil in the 4th quarter valued at about $957,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Stock Down 4.2%

Shares of NYSE:XOM opened at $140.86 on Tuesday. The company has a fifty day moving average of $151.69 and a 200-day moving average of $142.73. The company has a market capitalization of $583.84 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41.

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, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the previous year, the firm posted $1.76 earnings per share. ExxonMobil’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts predict that ExxonMobil Corporation will post 11.8 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.9%. ExxonMobil’s dividend payout ratio (DPR) is presently 69.48%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on XOM shares. JPMorgan Chase & Co. raised their price objective on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. HSBC lifted their price target on ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a report on Friday, March 20th. TD Cowen restated a “buy” rating on shares of ExxonMobil in a report on Monday. Bank of America lifted their price target on shares of ExxonMobil from $135.00 to $151.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings cut 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 assigned a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil currently has a consensus rating of “Hold” and a consensus target price of $165.55.

ExxonMobil News Summary

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 Company 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.