Pendal Group Ltd Sells 29,607 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Mar 30th, 2023

Pendal Group Ltd lessened its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 177,603 shares of the oil and gas company’s stock after selling 29,607 shares during the quarter. Pendal Group Ltd’s holdings in Exxon Mobil were worth $19,590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CTC Capital Management LLC bought a new position in Exxon Mobil in the third quarter valued at $1,807,000. WMG Financial Advisors LLC increased its stake in Exxon Mobil by 0.9% in the third quarter. WMG Financial Advisors LLC now owns 11,899 shares of the oil and gas company’s stock valued at $1,039,000 after acquiring an additional 108 shares during the last quarter. Polaris Wealth Advisory Group LLC grew its stake in shares of Exxon Mobil by 3,880.2% during the third quarter. Polaris Wealth Advisory Group LLC now owns 205,259 shares of the oil and gas company’s stock valued at $20,288,000 after buying an additional 200,102 shares during the last quarter. Mraz Amerine & Associates Inc. bought a new position in shares of Exxon Mobil during the fourth quarter valued at about $246,000. Finally, Accurate Wealth Management LLC grew its stake in shares of Exxon Mobil by 4.7% during the fourth quarter. Accurate Wealth Management LLC now owns 63,080 shares of the oil and gas company’s stock valued at $6,944,000 after buying an additional 2,859 shares during the last quarter. Institutional investors own 57.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on XOM shares. Bank of America raised their price objective on Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. Truist Financial increased their target price on shares of Exxon Mobil from $101.00 to $110.00 and gave the stock a “hold” rating in a report on Wednesday, February 1st. Cowen increased their target price on shares of Exxon Mobil from $108.00 to $113.00 and gave the stock a “market perform” rating in a report on Thursday, February 2nd. Mizuho increased their target price on shares of Exxon Mobil from $140.00 to $147.00 in a report on Friday, March 10th. Finally, HSBC increased their target price on shares of Exxon Mobil to $111.00 in a report on Friday, December 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.64.

Exxon Mobil Price Performance

XOM stock opened at $108.96 on Thursday. Exxon Mobil Co. has a 52-week low of $79.29 and a 52-week high of $119.63. The firm has a market capitalization of $443.58 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 0.45 and a beta of 1.09. The firm has a 50 day moving average price of $110.74 and a 200-day moving average price of $107.08. 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 (NYSE:XOM – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.08. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. The company had revenue of $95.43 billion during the quarter, compared to analyst estimates of $90.21 billion. During the same period in the previous year, the business earned $2.05 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts forecast that Exxon Mobil Co. will post 10.08 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 14th were issued a $0.91 dividend. The ex-dividend date was Monday, February 13th. This represents a $3.64 dividend on an annualized basis and a yield of 3.34%. Exxon Mobil’s payout ratio is currently 27.45%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were 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 directly owns 31,772 shares in the company, valued at approximately $3,669,666. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.

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.