Cutler Investment Counsel LLC Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 13th, 2023

Cutler Investment Counsel LLC cut its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,679 shares of the oil and gas company’s stock after selling 2,639 shares during the quarter. Exxon Mobil comprises 2.3% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 14th biggest position. Cutler Investment Counsel LLC’s holdings in Exxon Mobil were worth $14,855,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Integrity Financial Corp WA purchased a new position in shares of Exxon Mobil during the fourth quarter worth about $236,000. Miller Wealth Advisors LLC increased its holdings in shares of Exxon Mobil by 31.3% in the 4th quarter. Miller Wealth Advisors LLC now owns 411,298 shares of the oil and gas company’s stock worth $42,985,000 after buying an additional 98,006 shares during the last quarter. Tufton Capital Management raised its position in shares of Exxon Mobil by 3.7% during the 4th quarter. Tufton Capital Management now owns 100,511 shares of the oil and gas company’s stock valued at $11,086,000 after buying an additional 3,557 shares in the last quarter. Winch Advisory Services LLC lifted its holdings in shares of Exxon Mobil by 76.0% during the 4th quarter. Winch Advisory Services LLC now owns 2,557 shares of the oil and gas company’s stock worth $282,000 after acquiring an additional 1,104 shares during the last quarter. Finally, Rice Partnership LLC grew its position in Exxon Mobil by 25.1% in the fourth quarter. Rice Partnership LLC now owns 17,510 shares of the oil and gas company’s stock worth $1,931,000 after acquiring an additional 3,515 shares in the last quarter. 57.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on XOM. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $120.00 to $135.00 in a research note on Tuesday, January 17th. Barclays upped their price objective on shares of Exxon Mobil from $111.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Piper Sandler cut their price target on shares of Exxon Mobil from $131.00 to $127.00 and set an “overweight” rating for the company in a research report on Monday, December 19th. Redburn Partners downgraded Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Finally, Truist Financial boosted their target price on Exxon Mobil from $110.00 to $116.00 and gave the company a “hold” rating in a research note on Tuesday. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.91.

Exxon Mobil Trading Down 0.1 %

Shares of XOM opened at $115.23 on Thursday. Exxon Mobil Co. has a 1-year low of $79.29 and a 1-year high of $119.63. 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’s 50-day moving average price is $110.74 and its 200-day moving average price is $108.50. The firm has a market capitalization of $469.10 billion, a price-to-earnings ratio of 8.69, a PEG 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 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 business had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $90.21 billion. During the same period in the previous year, the firm posted $2.05 EPS. The business’s revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Exxon Mobil Co. will post 10.02 EPS for the current year.

Exxon Mobil Announces Dividend

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

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,500 shares of the company’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 sale, 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 Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is owned by corporate 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.