City Holding Co. Has $7.04 Million Stake in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 15th, 2023

City Holding Co. trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,808 shares of the oil and gas company’s stock after selling 1,466 shares during the quarter. Exxon Mobil makes up about 1.3% of City Holding Co.’s investment portfolio, making the stock its 15th largest holding. City Holding Co.’s holdings in Exxon Mobil were worth $7,038,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Exxon Mobil by 94.1% in the 3rd 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 purchasing an additional 19,230,872 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Exxon Mobil by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock worth $2,575,190,000 after purchasing an additional 560,517 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Exxon Mobil by 12.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 28,269,263 shares of the oil and gas company’s stock worth $2,468,477,000 after purchasing an additional 3,094,957 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Exxon Mobil by 2.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,456,421 shares of the oil and gas company’s stock worth $1,087,570,000 after purchasing an additional 317,096 shares during the last quarter. Finally, Fayez Sarofim & Co lifted its holdings in Exxon Mobil by 1.9% in the 3rd quarter. Fayez Sarofim & Co now owns 10,717,955 shares of the oil and gas company’s stock worth $935,784,000 after purchasing an additional 196,344 shares during the last quarter. 57.49% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

Shares of XOM stock opened at $116.05 on Friday. The stock’s fifty day simple moving average is $110.92 and its 200 day simple moving average is $108.82. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.06. The firm has a market cap of $472.44 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 0.54 and a beta of 1.08. Exxon Mobil Co. has a one year low of $79.29 and a one year high of $119.63.

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

Exxon Mobil Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on XOM shares. Cowen boosted their target price on Exxon Mobil from $108.00 to $113.00 and gave the stock a “market perform” rating in a report on Thursday, February 2nd. Argus lifted their price target on Exxon Mobil from $128.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Wells Fargo & Company lifted their price target on Exxon Mobil from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. Scotiabank downgraded Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $140.00 to $135.00 in a research report on Thursday. Finally, Redburn Partners downgraded Exxon Mobil from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price 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 on Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total value of $288,750.00. Following the transaction, the vice president now owns 31,772 shares of the company’s stock, valued at $3,669,666. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

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.