Patten & Patten Inc. TN Raises Position in Exxon Mobil Co. (NYSE:XOM)

Patten & Patten Inc. TN boosted its stake in Exxon Mobil Co. (NYSE:XOM) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,105 shares of the oil and gas company’s stock after buying an additional 779 shares during the period. Exxon Mobil accounts for approximately 1.0% of Patten & Patten Inc. TN’s portfolio, making the stock its 27th largest position. Patten & Patten Inc. TN’s holdings in Exxon Mobil were worth $14,533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of XOM. Fairway Wealth LLC purchased a new stake in Exxon Mobil in the fourth quarter worth about $31,000. Keystone Financial Group Inc. purchased a new stake in Exxon Mobil in the fourth quarter worth about $36,000. Retirement Wealth Solutions LLC purchased a new stake in Exxon Mobil in the fourth quarter worth about $46,000. Compass Planning Associates Inc purchased a new stake in Exxon Mobil in the fourth quarter worth about $47,000. Finally, Synergy Investment Management LLC purchased a new stake in Exxon Mobil in the fourth quarter worth about $47,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Scotiabank lowered their price objective on shares of Exxon Mobil from $145.00 to $140.00 in a report on Friday, January 31st. Mizuho decreased their target price on shares of Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Argus raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Tuesday, February 4th. Piper Sandler decreased their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Bernstein Bank raised their target price on shares of Exxon Mobil from $138.00 to $144.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.25.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,100 shares of the firm’s 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 sale, the vice president now owns 18,087 shares in the company, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

Exxon Mobil Price Performance

Shares of XOM opened at $111.98 on Friday. Exxon Mobil Co. has a twelve month low of $103.67 and a twelve month high of $126.34. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $109.34 and a 200 day moving average of $113.65. The company has a market capitalization of $485.90 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 3.02 and a beta of 0.83.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same quarter in the previous year, the firm posted $2.48 earnings per share. As a group, equities research analysts anticipate that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 12th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s dividend payout ratio is currently 50.51%.

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.