Sterneck Capital Management LLC Invests $249,000 in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Mar 29th, 2023

Sterneck Capital Management LLC acquired a new position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,260 shares of the oil and gas company’s stock, valued at approximately $249,000.

Other large investors also recently made changes to their positions in the company. Wealthquest Corp grew its position in Exxon Mobil by 1.4% in the third quarter. Wealthquest Corp now owns 6,629 shares of the oil and gas company’s stock valued at $578,000 after purchasing an additional 89 shares in the last quarter. FourThought Financial LLC grew its position in Exxon Mobil by 0.3% in the third quarter. FourThought Financial LLC now owns 31,022 shares of the oil and gas company’s stock valued at $2,709,000 after purchasing an additional 94 shares in the last quarter. Wilson & Boucher Capital Management LLC grew its position in Exxon Mobil by 1.8% in the third quarter. Wilson & Boucher Capital Management LLC now owns 5,445 shares of the oil and gas company’s stock valued at $475,000 after purchasing an additional 95 shares in the last quarter. Blooom Inc. grew its position in Exxon Mobil by 0.8% in the third quarter. Blooom Inc. now owns 12,226 shares of the oil and gas company’s stock valued at $1,082,000 after purchasing an additional 97 shares in the last quarter. Finally, OneAscent Wealth Management LLC grew its position in Exxon Mobil by 1.5% in the third quarter. OneAscent Wealth Management LLC now owns 6,749 shares of the oil and gas company’s stock valued at $589,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 57.49% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the subject of a number of analyst reports. Cowen raised their target price on shares of Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a research report on Thursday, February 2nd. Wells Fargo & Company raised their target price on shares of Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, March 3rd. Truist Financial raised their target price on shares of Exxon Mobil from $101.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, February 1st. Piper Sandler cut their price target on shares of Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. Finally, Redburn Partners cut shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $121.64.

Exxon Mobil Price Performance

XOM stock opened at $107.12 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. Exxon Mobil Co. has a 12 month low of $79.29 and a 12 month high of $119.63. The firm has a market cap of $436.08 billion, a P/E ratio of 8.08, a P/E/G ratio of 0.45 and a beta of 1.09. The company’s 50-day moving average price is $110.77 and its two-hundred day moving average price is $107.06.

Exxon Mobil (NYSE:XOM – Get Rating) last released its earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 EPS 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 analyst estimates of $90.21 billion. During the same period last year, the firm earned $2.05 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, analysts anticipate that Exxon Mobil Co. will post 10.08 earnings per share for the current fiscal 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 $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Monday, February 13th. Exxon Mobil’s dividend payout ratio is currently 27.45%.

Insider Buying and Selling at Exxon Mobil

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