Latitude Advisors LLC Decreases Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 15th, 2023

Latitude Advisors LLC trimmed its holdings in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,759 shares of the oil and gas company’s stock after selling 859 shares during the quarter. Exxon Mobil comprises approximately 1.2% of Latitude Advisors LLC’s portfolio, making the stock its 16th largest holding. Latitude Advisors LLC’s holdings in Exxon Mobil were worth $1,628,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Axiom Financial Strategies LLC raised its position in shares of Exxon Mobil by 17.4% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,909 shares of the oil and gas company’s stock valued at $680,000 after buying an additional 1,173 shares during the period. Retirement Income Solutions Inc purchased a new stake in shares of Exxon Mobil during the 1st quarter valued at approximately $275,000. Loomis Sayles & Co. L P raised its position in shares of 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 buying an additional 13,065 shares during the period. Ergoteles LLC raised its position in shares of Exxon Mobil by 95.6% during 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 period. Finally, Bridgefront Capital LLC purchased a new stake in shares of Exxon Mobil during the 1st quarter valued at approximately $237,000. 57.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction on 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 directly owns 31,772 shares of the company’s stock, valued at $3,669,666. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

XOM has been the subject of several research reports. Scotiabank downgraded shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $140.00 to $135.00 in a report on Thursday. Redburn Partners downgraded shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Argus lifted their target price on shares of Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Cowen lifted their target price on shares of Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a report on Thursday, February 2nd. Finally, Bank of America lifted their target price on shares of Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.91.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $116.05 on Friday. 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 has a fifty day moving average price of $110.92 and a 200 day moving average price of $108.82. The company has a market cap of $472.44 billion, a P/E ratio of 8.75, a PEG ratio of 0.54 and a beta of 1.08. Exxon Mobil Co. has a 12 month low of $79.29 and a 12 month high of $119.63.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.08. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $90.21 billion. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Sell-side analysts predict that Exxon Mobil Co. will post 10 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 14th were paid a dividend of $0.91 per share. The ex-dividend date was Monday, February 13th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.14%. Exxon Mobil’s payout ratio is currently 27.45%.

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.