Denver Wealth Management Inc. Boosts Stake in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 15th, 2023

Denver Wealth Management Inc. boosted its stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 4.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,015 shares of the oil and gas company’s stock after buying an additional 260 shares during the quarter. Denver Wealth Management Inc.’s holdings in Exxon Mobil were worth $663,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XOM. Axiom Financial Strategies LLC lifted its stake in Exxon Mobil by 17.4% in 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 in the last quarter. Retirement Income Solutions Inc purchased a new stake in Exxon Mobil in the 1st quarter valued at approximately $275,000. Loomis Sayles & Co. L P lifted its stake in Exxon Mobil by 318.8% in 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 in the last quarter. Ergoteles LLC lifted its stake in Exxon Mobil by 95.6% in 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 in the last quarter. Finally, Bridgefront Capital LLC acquired a new position in Exxon Mobil in the 1st quarter valued at $237,000. Hedge funds and other institutional investors own 57.49% of the company’s stock.

Exxon Mobil Stock Up 0.2 %

Shares of NYSE XOM opened at $116.05 on Friday. Exxon Mobil Co. has a 12-month low of $79.29 and a 12-month high of $119.63. The company has a market cap 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. 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 stock has a fifty day moving average price of $110.92 and a 200 day moving average price of $108.82.

Exxon Mobil (NYSE:XOM – Get Rating) last announced 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 return on equity of 31.25% and a net margin of 13.47%. The firm had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $90.21 billion. During the same period in the prior year, the firm earned $2.05 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Research analysts anticipate that Exxon Mobil Co. will post 10 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 14th were issued 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 3.14%. Exxon Mobil’s dividend payout ratio is currently 27.45%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on XOM shares. StockNews.com started coverage on Exxon Mobil in a report on Thursday, March 16th. They issued a “hold” rating for the company. Redburn Partners downgraded Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Truist Financial boosted their price target on Exxon Mobil from $110.00 to $116.00 and gave the company a “hold” rating in a report on Tuesday. Mizuho boosted their price target on Exxon Mobil from $140.00 to $147.00 in a report on Friday, March 10th. Finally, Wells Fargo & Company boosted their price target on Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.91.

Insider Activity at Exxon Mobil

In other Exxon Mobil 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.04% of the stock is owned by insiders.

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.