Douglas Lane & Associates LLC Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Mar 26th, 2023

Douglas Lane & Associates LLC cut its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,968 shares of the oil and gas company’s stock after selling 1,919 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Exxon Mobil were worth $3,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Exxon Mobil by 94.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock valued at $3,463,672,000 after acquiring an additional 19,230,872 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Exxon Mobil by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock valued at $2,575,190,000 after purchasing an additional 560,517 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Exxon Mobil by 12.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 28,269,263 shares of the oil and gas company’s stock valued at $2,468,477,000 after purchasing an additional 3,094,957 shares in the last quarter. Legal & General Group Plc increased its holdings in Exxon Mobil by 14.3% during the 2nd quarter. Legal & General Group Plc now owns 25,040,531 shares of the oil and gas company’s stock worth $2,144,479,000 after purchasing an additional 3,131,617 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Exxon Mobil by 6.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 13,564,255 shares of the oil and gas company’s stock valued at $1,161,643,000 after purchasing an additional 849,804 shares in the last quarter. 57.49% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Stock Up 0.1 %

Shares of Exxon Mobil stock opened at $103.53 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.06. Exxon Mobil Co. has a 1-year low of $79.29 and a 1-year high of $119.63. The business’s fifty day moving average price is $111.04 and its two-hundred day moving average price is $106.82. The company has a market capitalization of $421.47 billion, a P/E ratio of 7.81, a PEG ratio of 0.45 and a beta of 1.09.

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

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Tuesday, February 14th were issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Monday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is presently 27.45%.

Analyst Ratings Changes

XOM has been the topic of several recent analyst reports. Wells Fargo & Company upped their price target on shares of Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. Cowen increased their price target on shares of Exxon Mobil from $108.00 to $113.00 and gave the stock a “market perform” rating in a research report on Thursday, February 2nd. Argus boosted their price objective on Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Redburn Partners downgraded Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Finally, Barclays boosted their price target on Exxon Mobil from $111.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.64.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total value of $288,750.00. Following the completion of the sale, the vice president now directly owns 31,772 shares in the company, valued at $3,669,666. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

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.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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