Lake Street Financial LLC Lowers Stock Position in Exxon Mobil Co. (NYSE:XOM)

Posted by on Apr 10th, 2023

Lake Street Financial LLC decreased its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,021 shares of the oil and gas company’s stock after selling 521 shares during the period. Lake Street Financial LLC’s holdings in Exxon Mobil were worth $1,877,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of XOM. Price T Rowe Associates Inc. MD grew its position in shares of Exxon Mobil by 94.1% during the 3rd 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 acquiring an additional 19,230,872 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Exxon Mobil by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock worth $2,575,190,000 after acquiring an additional 560,517 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Exxon Mobil by 12.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 28,269,263 shares of the oil and gas company’s stock worth $2,468,477,000 after acquiring an additional 3,094,957 shares during the last quarter. Legal & General Group Plc raised its stake in Exxon Mobil by 14.3% in the 2nd 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 acquiring an additional 3,131,617 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in 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 worth $1,087,570,000 after purchasing an additional 317,096 shares during the period. Institutional investors own 57.49% of the company’s stock.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $115.05 on Monday. The stock has a market capitalization of $468.37 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08. The company has a fifty day moving average of $110.73 and a 200-day moving average of $108.13. Exxon Mobil Co. has a 52-week low of $79.29 and a 52-week high of $119.63. 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 posted its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.08. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $90.21 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. Equities research analysts expect that Exxon Mobil Co. will post 9.98 EPS for the current year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Tuesday, February 14th were given a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $3.64 annualized dividend and a yield of 3.16%. Exxon Mobil’s payout ratio is currently 27.45%.

Analyst Upgrades and Downgrades

XOM has been the subject of several analyst reports. Scotiabank raised 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 report on Tuesday, January 17th. Redburn Partners lowered Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. StockNews.com started coverage on shares of Exxon Mobil in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Wells Fargo & Company boosted their price objective 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. Finally, Mizuho increased their target price on shares of Exxon Mobil from $140.00 to $147.00 in a research note on Friday, March 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $121.64.

Insider Activity

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

Exxon Mobil Company 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.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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