Abacus Planning Group Inc. Grows Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Mar 30th, 2023

Abacus Planning Group Inc. boosted its holdings in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,898 shares of the oil and gas company’s stock after acquiring an additional 1,786 shares during the quarter. Exxon Mobil comprises approximately 0.7% of Abacus Planning Group Inc.’s portfolio, making the stock its 27th biggest holding. Abacus Planning Group Inc.’s holdings in Exxon Mobil were worth $2,526,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Amplius Wealth Advisors LLC raised its position in Exxon Mobil by 23.2% in the fourth quarter. Amplius Wealth Advisors LLC now owns 11,294 shares of the oil and gas company’s stock worth $1,246,000 after acquiring an additional 2,124 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC grew its holdings in Exxon Mobil by 0.8% in the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 27,187 shares of the oil and gas company’s stock valued at $2,999,000 after purchasing an additional 203 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Exxon Mobil by 35.6% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 145,557 shares of the oil and gas company’s stock valued at $16,055,000 after purchasing an additional 38,230 shares during the last quarter. Adviser Investments LLC grew its holdings in Exxon Mobil by 3.2% in the fourth quarter. Adviser Investments LLC now owns 19,638 shares of the oil and gas company’s stock valued at $2,187,000 after purchasing an additional 614 shares during the last quarter. Finally, Farmers Trust Co. grew its holdings in Exxon Mobil by 4.9% in the fourth quarter. Farmers Trust Co. now owns 34,367 shares of the oil and gas company’s stock valued at $3,791,000 after purchasing an additional 1,604 shares during the last quarter. Hedge funds and other institutional investors own 57.49% of the company’s stock.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $108.96 on Thursday. The company has a market cap of $443.58 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 0.45 and a beta of 1.09. 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 12 month low of $79.29 and a 12 month high of $119.63. The stock’s 50-day moving average is $110.74 and its 200-day moving average is $107.08.

Exxon Mobil (NYSE:XOM – Get Rating) last announced 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. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $90.21 billion. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. Equities analysts anticipate that Exxon Mobil Co. will post 10.08 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced 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 dividend yield of 3.34%. Exxon Mobil’s payout ratio is currently 27.45%.

Analyst Upgrades and Downgrades

XOM has been the topic of several research reports. HSBC upped their target price on Exxon Mobil to $111.00 in a report on Friday, December 2nd. Piper Sandler lowered their target price on Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Cowen upped their target price on Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a report on Thursday, February 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 report on Friday, March 3rd. Finally, Mizuho increased their price objective on Exxon Mobil from $140.00 to $147.00 in a research note on Friday, March 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.64.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil 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 transaction, the vice president now owns 31,772 shares in the company, valued at approximately $3,669,666. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.04% of the company’s stock.

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.