Exxon Mobil Co. (NYSE:XOM) Shares Sold by Synovus Financial Corp

Synovus Financial Corp reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM - Free Report) by 47.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 355,460 shares of the oil and gas company's stock after selling 315,916 shares during the quarter. Exxon Mobil makes up approximately 0.5% of Synovus Financial Corp's investment portfolio, making the stock its 28th largest position. Synovus Financial Corp's holdings in Exxon Mobil were worth $38,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in XOM. Geode Capital Management LLC lifted its holdings 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 worth $10,023,875,000 after buying an additional 1,104,617 shares during the period. Norges Bank purchased a new stake in Exxon Mobil in the fourth quarter worth about $6,936,737,000. Bank of New York Mellon Corp grew its holdings in Exxon Mobil by 14.4% during the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company's stock worth $4,731,263,000 after acquiring an additional 5,538,694 shares in the last quarter. Franklin Resources Inc. increased its position in Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock valued at $3,836,226,000 after purchasing an additional 4,140,046 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $3,427,237,000 after purchasing an additional 700,415 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

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Insider Activity

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

Exxon Mobil Stock Performance

Shares of NYSE:XOM traded up $1.98 during trading on Tuesday, hitting $105.37. 1,026,934 shares of the stock traded hands, compared to its average volume of 15,934,164. The company has a market cap of $455.74 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 3.02 and a beta of 0.61. 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 company has a fifty day moving average price of $110.20 and a two-hundred day moving average price of $113.10. Exxon Mobil Co. has a 52-week low of $97.80 and a 52-week high of $126.34.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results 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 return on equity of 12.92% and a net margin of 9.63%. During the same period last year, the firm posted $2.48 earnings per share. As a group, equities analysts predict that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.76%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil's payout ratio is 50.51%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group reduced their price target on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating for the company in a research report on Monday. JPMorgan Chase & Co. lowered their target price on shares of Exxon Mobil from $130.00 to $125.00 and set an "overweight" rating for the company in a research note on Monday, December 16th. Morgan Stanley cut their price target on shares of Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Scotiabank decreased their price objective on Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating for the company in a report on Friday. Finally, BMO Capital Markets dropped their target price on Exxon Mobil from $130.00 to $123.00 and set a "market perform" rating on the stock in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $126.75.

About Exxon Mobil

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.