Spinnaker Investment Group LLC Acquires New Shares in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Mar 26th, 2023

Spinnaker Investment Group LLC bought a new stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,321 shares of the oil and gas company’s stock, valued at approximately $256,000.

Several other institutional investors also recently modified their holdings of the stock. Karp Capital Management Corp acquired a new stake in Exxon Mobil during the 3rd quarter worth $28,000. Clear Perspectives Financial Planning LLC increased its holdings 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 acquiring an additional 272 shares in the last quarter. Align Wealth Management LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth about $38,000. Mine & Arao Wealth Creation & Management LLC. grew its position 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 purchasing an additional 169 shares during the period. Finally, Horizons Wealth Management bought a new stake in Exxon Mobil during the 2nd quarter worth approximately $41,000. 57.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total transaction of $288,750.00. Following the transaction, the vice president now owns 31,772 shares in the company, valued at approximately $3,669,666. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Cowen lifted their price target on shares of Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a research note on Thursday, February 2nd. Wells Fargo & Company upped their target price on shares of Exxon Mobil from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, March 3rd. HSBC lifted their price target on Exxon Mobil to $111.00 in a research note on Friday, December 2nd. Truist Financial upped their price objective on Exxon Mobil from $101.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, February 1st. Finally, StockNews.com started coverage on Exxon Mobil in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.64.

Exxon Mobil Price Performance

Shares of XOM opened at $103.53 on Friday. The company’s 50-day moving average is $111.04 and its 200-day moving average is $106.82. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.06. The firm has a market capitalization of $421.47 billion, a PE ratio of 7.81, a PEG ratio of 0.45 and a beta of 1.09. Exxon Mobil Co. has a fifty-two week low of $79.29 and a fifty-two week high of $119.63.

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

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 14th were issued a dividend of $0.91 per share. The ex-dividend date was Monday, February 13th. This represents a $3.64 annualized dividend and a yield of 3.52%. Exxon Mobil’s payout ratio is currently 27.45%.

Exxon Mobil 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.