Iron Horse Wealth Management LLC Boosts Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Mar 29th, 2023

Iron Horse Wealth Management LLC boosted its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,634 shares of the oil and gas company’s stock after purchasing an additional 293 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Exxon Mobil were worth $291,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of XOM. Marion Wealth Management raised its holdings in shares of Exxon Mobil by 8.2% in the fourth quarter. Marion Wealth Management now owns 5,780 shares of the oil and gas company’s stock worth $638,000 after acquiring an additional 438 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in shares of Exxon Mobil in the fourth quarter worth $315,000. Fundamentun LLC acquired a new position in shares of Exxon Mobil in the fourth quarter worth $490,000. Sterneck Capital Management LLC acquired a new position in shares of Exxon Mobil in the fourth quarter worth $249,000. Finally, PFG Private Wealth Management LLC raised its holdings in shares of Exxon Mobil by 2,885.9% in the fourth quarter. PFG Private Wealth Management LLC now owns 2,747 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 2,655 shares during the last quarter. 57.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on XOM. StockNews.com began coverage on Exxon Mobil in a report on Thursday, March 16th. They issued a “hold” rating for the company. Bank of America upped their target price on Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. HSBC upped their target price on Exxon Mobil to $111.00 in a research note on Friday, December 2nd. Wells Fargo & Company upped their target price on Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. Finally, Mizuho upped their target price on Exxon Mobil from $140.00 to $147.00 in a research note on Friday, March 10th. 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 MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus target price of $121.64.

Insider Transactions 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 value of $288,750.00. Following the completion of the transaction, the vice president now owns 31,772 shares of the company’s stock, valued at $3,669,666. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $107.12 on Wednesday. Exxon Mobil Co. has a 1-year low of $79.29 and a 1-year high of $119.63. The business has a 50-day moving average of $110.77 and a 200-day moving average of $107.06. 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 company has a market capitalization of $436.08 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.45 and a beta of 1.09.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share 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 quarter in the prior year, the business earned $2.05 earnings per share. The company’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts anticipate that Exxon Mobil Co. will post 10.08 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Tuesday, February 14th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, February 13th. Exxon Mobil’s payout ratio is 27.45%.

About Exxon Mobil

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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.