PNC Financial Services Group Inc. Sells 145,321 Shares of Exxon Mobil Co. (NYSE:XOM)

PNC Financial Services Group Inc. reduced its position in Exxon Mobil Co. (NYSE:XOM - Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,782,008 shares of the oil and gas company's stock after selling 145,321 shares during the period. Exxon Mobil comprises about 0.8% of PNC Financial Services Group Inc.'s holdings, making the stock its 17th largest position. PNC Financial Services Group Inc. owned approximately 0.27% of Exxon Mobil worth $1,263,867,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in shares of Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company's stock worth $1,935,779,000 after buying an additional 14,158,054 shares during the last quarter. Primecap Management Co. CA acquired a new position in Exxon Mobil during the 2nd quarter worth $980,210,000. International Assets Investment Management LLC boosted its stake in Exxon Mobil by 7,761.0% during the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company's stock valued at $808,077,000 after purchasing an additional 6,805,982 shares during the period. Capital International Investors grew its holdings in Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company's stock valued at $3,197,989,000 after buying an additional 5,523,429 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company's stock worth $4,235,972,000 after acquiring an additional 5,330,887 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Exxon Mobil Trading Down 1.4 %

Shares of XOM stock traded down $1.71 on Tuesday, reaching $118.60. 11,579,403 shares of the stock were exchanged, compared to its average volume of 16,304,970. The stock has a 50 day moving average price of $118.59 and a 200 day moving average price of $116.42. The stock has a market cap of $521.26 billion, a PE ratio of 14.82, a P/E/G ratio of 5.00 and a beta of 0.90. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same quarter last year, the firm earned $2.27 EPS. The company's revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts forecast that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.99 per share. This is a boost from Exxon Mobil's previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.34%. Exxon Mobil's payout ratio is presently 49.32%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Bank of America initiated coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a "neutral" rating and a $124.00 price objective for the company. BMO Capital Markets upped their price target on Exxon Mobil from $127.00 to $130.00 and gave the company a "market perform" rating in a report on Friday, October 4th. Truist Financial lowered their price objective on Exxon Mobil from $121.00 to $117.00 and set a "hold" rating on the stock in a research report on Monday, September 30th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $120.00 target price on shares of Exxon Mobil in a research report on Monday, November 4th. Finally, Morgan Stanley lowered their price target on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $130.21.

Exxon Mobil 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.