Derbend Asset Management Sells 320 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 8th, 2023

Derbend Asset Management reduced its stake in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,505 shares of the oil and gas company’s stock after selling 320 shares during the quarter. Derbend Asset Management’s holdings in Exxon Mobil were worth $276,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Exxon Mobil by 94.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock valued at $3,463,672,000 after buying an additional 19,230,872 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Exxon Mobil by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock valued at $2,575,190,000 after buying an additional 560,517 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Exxon Mobil by 12.3% during the third quarter. Dimensional Fund Advisors LP now owns 28,269,263 shares of the oil and gas company’s stock valued at $2,468,477,000 after buying an additional 3,094,957 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Exxon Mobil by 14.3% during the second quarter. Legal & General Group Plc now owns 25,040,531 shares of the oil and gas company’s stock valued at $2,144,479,000 after buying an additional 3,131,617 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Exxon Mobil by 2.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,456,421 shares of the oil and gas company’s stock valued at $1,087,570,000 after buying an additional 317,096 shares during the last quarter. 57.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays increased 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. Cowen increased their price objective on Exxon Mobil from $108.00 to $113.00 and gave the stock a “market perform” rating in a research note on Thursday, February 2nd. Redburn Partners cut Exxon Mobil from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 18th. Argus increased their price objective on Exxon Mobil from $128.00 to $133.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Finally, StockNews.com assumed coverage on Exxon Mobil in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.64.

Exxon Mobil Stock Performance

Shares of XOM opened at $115.05 on Friday. Exxon Mobil Co. has a 12 month low of $79.29 and a 12 month high of $119.63. The stock has a fifty day moving average price of $110.73 and a 200-day moving average price of $107.90. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The firm has a market cap of $468.37 billion, a PE ratio of 8.68, a P/E/G ratio of 0.51 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its quarterly earnings data 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 return on equity of 31.25% and a net margin of 13.47%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $90.21 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts predict that Exxon Mobil Co. will post 9.96 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. Investors of record on Tuesday, February 14th were given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend 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 company’s stock in a transaction 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 transaction, the vice president now directly owns 31,772 shares of the company’s stock, valued at approximately $3,669,666. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by insiders.

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.