Drive Wealth Management LLC Purchases 399 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 15th, 2023

Drive Wealth Management LLC increased its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,887 shares of the oil and gas company’s stock after acquiring an additional 399 shares during the period. Exxon Mobil comprises about 0.9% of Drive Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Drive Wealth Management LLC’s holdings in Exxon Mobil were worth $1,863,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of XOM. Price T Rowe Associates Inc. MD grew its holdings in shares of Exxon Mobil by 94.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock worth $3,463,672,000 after acquiring an additional 19,230,872 shares during the period. Great West Life Assurance Co. Can bought a new stake in Exxon Mobil during the third quarter valued at about $347,253,000. Dimensional Fund Advisors LP grew its holdings in 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 purchasing an additional 3,094,957 shares during the period. HighTower Trust Company N.A. bought a new stake in Exxon Mobil during the third quarter valued at about $237,316,000. Finally, Barclays PLC grew its holdings in Exxon Mobil by 70.9% during the third quarter. Barclays PLC now owns 6,546,333 shares of the oil and gas company’s stock valued at $571,557,000 after purchasing an additional 2,716,651 shares during the period. Institutional investors own 57.49% of the company’s stock.

Analysts Set New Price Targets

XOM has been the subject of several recent research reports. StockNews.com initiated coverage on Exxon Mobil in a report on Thursday, March 16th. They set a “hold” rating for the company. Barclays boosted their price target on Exxon Mobil from $111.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. B. Riley boosted their price target on Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Bank of America boosted their price target on Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Finally, Truist Financial boosted their price objective on Exxon Mobil from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.91.

Insiders Place Their Bets

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

Exxon Mobil Price Performance

NYSE:XOM opened at $116.05 on Friday. The business’s 50-day moving average is $110.92 and its 200 day moving average is $108.82. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. Exxon Mobil Co. has a 12 month low of $79.29 and a 12 month high of $119.63. The company has a market capitalization of $472.44 billion, a P/E ratio of 8.75, a P/E/G ratio of 0.54 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 earnings per share for the quarter, topping 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 company 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 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities research analysts forecast that Exxon Mobil Co. will post 10 earnings per share for the current fiscal 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 paid a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 13th. This represents a $3.64 annualized dividend and a yield of 3.14%. Exxon Mobil’s payout ratio is currently 27.45%.

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.