Pacific Wealth Strategies Group Inc. Invests $221,000 in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Mar 21st, 2023

Pacific Wealth Strategies Group Inc. bought a new stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the oil and gas company’s stock, valued at approximately $221,000.

Several other hedge funds also recently bought and sold shares of XOM. Karp Capital Management Corp bought a new position in shares of Exxon Mobil during the 3rd quarter valued at $28,000. Clear Perspectives Financial Planning LLC lifted its position in shares of Exxon Mobil by 259.0% in the third quarter. Clear Perspectives Financial Planning LLC now owns 377 shares of the oil and gas company’s stock worth $33,000 after buying an additional 272 shares during the last quarter. Align Wealth Management LLC bought a new stake in shares of Exxon Mobil during the 4th quarter worth about $38,000. Horizons Wealth Management acquired a new position in shares of Exxon Mobil during the 2nd quarter valued at about $41,000. Finally, Mine & Arao Wealth Creation & Management LLC. raised its stake in shares of Exxon Mobil by 61.7% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 443 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 169 shares in the last quarter. 57.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Redburn Partners lowered shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 18th. Piper Sandler cut their price objective on Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Citigroup raised their target price on Exxon Mobil from $98.00 to $110.00 in a report on Tuesday, November 22nd. Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $120.00 to $135.00 in a report on Tuesday, January 17th. Finally, StockNews.com started coverage on shares of Exxon Mobil in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $121.64.

Insider Buying and Selling at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total transaction of $288,750.00. Following the completion of the transaction, the vice president now directly owns 31,772 shares in the company, valued at $3,669,666. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM stock opened at $102.45 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.41. Exxon Mobil Co. has a 52-week low of $79.29 and a 52-week high of $119.63. The firm’s 50 day moving average price is $111.62 and its two-hundred day moving average price is $106.64. The stock has a market cap of $417.07 billion, a PE ratio of 7.73, a PEG ratio of 0.43 and a beta of 1.09.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.08. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. The company had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $90.21 billion. During the same period in the prior year, the company earned $2.05 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Exxon Mobil Co. will post 10.08 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Tuesday, February 14th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Monday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is presently 27.45%.

Exxon Mobil Company Profile

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Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products.