Ipswich Investment Management Co. Inc. Has $11.99 Million Holdings in Exxon Mobil Co. (NYSE:XOM)

Ipswich Investment Management Co. Inc. reduced its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 104,187 shares of the oil and gas company’s stock after selling 518 shares during the period. Exxon Mobil accounts for about 2.8% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 4th largest position. Ipswich Investment Management Co. Inc.’s holdings in Exxon Mobil were worth $11,994,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in XOM. FPC Investment Advisory Inc. acquired a new stake in shares of Exxon Mobil in the 1st quarter valued at $25,000. First Pacific Financial bought a new position in Exxon Mobil during the 1st quarter valued at about $34,000. Lynx Investment Advisory bought a new position in shares of Exxon Mobil in the second quarter valued at approximately $47,000. Partnership Wealth Management LLC acquired a new position in shares of Exxon Mobil in the 4th quarter worth approximately $46,000. Finally, Vima LLC bought a new stake in Exxon Mobil during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Stock Up 0.7 %

Shares of NYSE XOM traded up $0.88 during midday trading on Wednesday, reaching $118.74. The company’s stock had a trading volume of 1,442,932 shares, compared to its average volume of 17,233,420. The stock has a 50 day simple moving average of $114.37 and a 200-day simple moving average of $113.15. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $468.19 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 4.51 and a beta of 0.91. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $123.75.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The business had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter last year, the firm earned $1.94 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts predict that Exxon Mobil Co. will post 8.65 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.20%. Exxon Mobil’s payout ratio is presently 46.57%.

Analyst Ratings Changes

XOM has been the subject of several research analyst reports. Barclays cut their price objective on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Piper Sandler boosted their target price on shares of Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen raised their price target on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Wolfe Research started coverage on Exxon Mobil in a report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price objective for the company. Finally, HSBC boosted their price target on shares of Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.39.

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.