Trustco Bank Corp N Y increased its holdings in **Exxon Mobil Corporation** by **18.1%** during the second quarter of 2023, according to a recent filing with the **Securities and Exchange Commission** (SEC). The bank now owns **36,218 shares** of the oil and gas giant after acquiring an additional **5,544 shares** during this period. This investment represents approximately **3.8%** of Trustco Bank’s total portfolio, making Exxon Mobil its sixth largest holding.
The value of Trustco Bank’s stake in Exxon Mobil is estimated at **$3,904,000** as of the end of the most recent quarter. This increase in ownership reflects broader trends, as various hedge funds and institutional investors have also adjusted their positions in the company. For instance, **Elequin Capital LP** established a new stake in Exxon Mobil valued at about **$31,000** in the first quarter. Meanwhile, **Clal Insurance Enterprises Holdings Ltd** raised its holdings by an impressive **396.7%**, now owning **298 shares** valued at **$35,000** after buying an additional **238 shares**.
Other notable shifts include **Game Plan Financial Advisors LLC**, which boosted its stake by **1,500%**, acquiring **320 shares** valued at **$38,000**. Additionally, **Marshall & Sullivan Inc. WA** and **1248 Management LLC** each made new investments in Exxon Mobil, valued at **$38,000** and **$40,000**, respectively. Collectively, institutional investors hold **61.80%** of Exxon Mobil’s stock.
Insider Transactions and Market Performance
In related news, **Darrin L. Talley**, Vice President of Exxon Mobil, sold **2,158 shares** of the company’s stock on **August 22, 2023**, at an average price of **$110.45**, totaling approximately **$238,351.10**. Following this transaction, Talley retains **13,829 shares**, valued at about **$1,527,413.05**, marking a **13.50%** reduction in his position. This sale was officially disclosed in an SEC filing.
As of the latest trading session, Exxon Mobil’s stock opened at **$118.70**, with a market capitalization of **$500.57 billion**. The company’s price-to-earnings (P/E) ratio stands at **16.86**, complemented by a **PEG ratio** of **2.06** and a beta of **0.49**. Financial ratios reveal a debt-to-equity ratio of **0.12**, a quick ratio of **0.88**, and a current ratio of **1.25**. The stock has fluctuated between a fifty-two week low of **$97.80** and a high of **$123.21**.
Exxon Mobil recently reported quarterly earnings, revealing an **earnings per share (EPS)** of **$0.65** for the quarter ending June 17, 2023. The company achieved revenue of **$57.55 billion**, with a return on equity of **11.34%** and a net margin of **9.17%**. Analysts predict that Exxon Mobil is on track to post an EPS of **$7.43** for the current fiscal year.
Dividend Announcement and Financial Outlook
In an encouraging development for investors, Exxon Mobil has declared a quarterly dividend of **$1.03**, set to be paid on **December 10, 2023**. Shareholders on record as of **November 14, 2023**, will receive this dividend, representing an increase from the previous quarterly dividend of **$0.99**. This change signifies a positive trend, with an annualized dividend of **$4.12** and a yield of **3.5%**. Exxon Mobil’s current payout ratio is approximately **59.88%**.
Exxon Mobil Corporation is engaged in the exploration and production of crude oil and natural gas both in the United States and globally. Its operations are segmented into Upstream, Energy Products, Chemical Products, and Specialty Products, with the Upstream segment focusing on oil and gas exploration and production.
With ongoing changes in institutional investments and positive financial indicators, Exxon Mobil remains a focal point for investors looking at the energy sector’s potential growth.
