Merrion Investment Management Co LLC Sells 818 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 8th, 2023

Merrion Investment Management Co LLC reduced its stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,407 shares of the oil and gas company’s stock after selling 818 shares during the quarter. Exxon Mobil comprises approximately 1.3% of Merrion Investment Management Co LLC’s holdings, making the stock its 19th largest position. Merrion Investment Management Co LLC’s holdings in Exxon Mobil were worth $1,368,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Karp Capital Management Corp bought a new position in Exxon Mobil in the 3rd quarter valued at approximately $28,000. Clear Perspectives Financial Planning LLC lifted its position in Exxon Mobil by 259.0% in the 3rd quarter. Clear Perspectives Financial Planning LLC now owns 377 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 272 shares in the last quarter. Align Wealth Management LLC bought a new position in Exxon Mobil in the 4th quarter valued at approximately $38,000. Mine & Arao Wealth Creation & Management LLC. lifted its position in Exxon Mobil by 61.7% in the 3rd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 443 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 169 shares in the last quarter. Finally, Horizons Wealth Management bought a new position in Exxon Mobil in the 2nd quarter valued at approximately $41,000. 57.49% of the stock is owned by institutional investors.

Exxon Mobil Stock Down 1.7 %

XOM opened at $115.05 on Friday. The firm has a 50-day simple moving average of $110.73 and a two-hundred day simple moving average of $107.90. Exxon Mobil Co. has a 52 week low of $79.29 and a 52 week high of $119.63. The company has a market capitalization of $468.37 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.51 and a beta of 1.08. 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 (NYSE:XOM – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 EPS for the quarter, beating 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 firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $90.21 billion. During the same quarter last year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts forecast that Exxon Mobil Co. will post 9.96 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 14th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Monday, February 13th. Exxon Mobil’s payout ratio is 27.45%.

Insider Activity 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 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 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 SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Mizuho upped their price objective on Exxon Mobil from $140.00 to $147.00 in a research report on Friday, March 10th. B. Riley boosted their target price on shares of Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Wells Fargo & Company boosted their target price on shares of Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. StockNews.com began coverage on Exxon Mobil in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Barclays upped their price objective on Exxon Mobil from $111.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil has a consensus rating of “Moderate Buy” and an average price target of $121.64.

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.