Exxon Mobil Co. (NYSE:XOM) Shares Acquired by Pettee Investors Inc.

Posted by Defense World Staff on Apr 10th, 2023

Pettee Investors Inc. lifted its stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 54,310 shares of the oil and gas company’s stock after purchasing an additional 424 shares during the quarter. Exxon Mobil accounts for 2.9% of Pettee Investors Inc.’s portfolio, making the stock its 4th largest position. Pettee Investors Inc.’s holdings in Exxon Mobil were worth $5,991,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on XOM. Wells Fargo & Company increased their price objective on Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. Argus increased their price target on Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. B. Riley boosted their price objective on Exxon Mobil from $128.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Piper Sandler reduced their target price on shares of Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Finally, Mizuho boosted their price target on shares of Exxon Mobil from $140.00 to $147.00 in a report on Friday, March 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.64.

Exxon Mobil Stock Down 1.7 %

XOM opened at $115.05 on Monday. Exxon Mobil Co. has a 52 week low of $79.29 and a 52 week high of $119.63. The business has a 50 day moving average price of $110.73 and a two-hundred day moving average price of $108.13. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The company has a market cap of $468.37 billion, a PE ratio of 8.68, a P/E/G ratio of 0.54 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Get Rating) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $90.21 billion. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. Exxon Mobil’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the firm posted $2.05 EPS. As a group, research analysts anticipate that Exxon Mobil Co. will post 9.98 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared 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 yield of 3.16%. Exxon Mobil’s dividend payout ratio is currently 27.45%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total transaction of $288,750.00. Following the completion of the transaction, the vice president now directly owns 31,772 shares of the company’s stock, valued at approximately $3,669,666. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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.