Cornerstone Wealth Group LLC Acquires 866 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 9th, 2023

Cornerstone Wealth Group LLC grew its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,081 shares of the oil and gas company’s stock after purchasing an additional 866 shares during the quarter. Exxon Mobil comprises about 1.0% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 28th biggest position. Cornerstone Wealth Group LLC’s holdings in Exxon Mobil were worth $5,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Axiom Financial Strategies LLC raised its position in shares of Exxon Mobil by 17.4% in the first quarter. Axiom Financial Strategies LLC now owns 7,909 shares of the oil and gas company’s stock valued at $680,000 after purchasing an additional 1,173 shares during the period. Retirement Income Solutions Inc bought a new position in shares of Exxon Mobil in the first quarter worth about $275,000. Loomis Sayles & Co. L P boosted its stake in Exxon Mobil by 318.8% during the 1st quarter. Loomis Sayles & Co. L P now owns 17,163 shares of the oil and gas company’s stock valued at $1,417,000 after purchasing an additional 13,065 shares during the period. Ergoteles LLC grew its holdings in Exxon Mobil by 95.6% in the 1st quarter. Ergoteles LLC now owns 15,843 shares of the oil and gas company’s stock valued at $1,308,000 after buying an additional 7,744 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new position in Exxon Mobil in the 1st quarter worth approximately $237,000. Institutional investors and hedge funds own 57.49% of the company’s stock.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $115.05 on Friday. Exxon Mobil Co. has a 1-year low of $79.29 and a 1-year high of $119.63. The firm’s 50-day moving average price is $110.73 and its two-hundred day moving average price is $108.01. 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 stock has a market capitalization of $468.37 billion, a price-to-earnings 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 released its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.08. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $90.21 billion. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. On average, equities analysts predict that Exxon Mobil Co. will post 9.98 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. The ex-dividend date of this dividend was Monday, February 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.16%. Exxon Mobil’s dividend payout ratio is 27.45%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on XOM shares. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $120.00 to $135.00 in a research note on Tuesday, January 17th. StockNews.com initiated coverage on shares of Exxon Mobil in a report on Thursday, March 16th. They set a “hold” rating on the stock. Bank of America increased their target price on shares of Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 1st. Wells Fargo & Company boosted their price target on Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. Finally, Piper Sandler reduced their price objective on Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. One equities 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.64.

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.