M&G Investment Management Ltd. Sells 308 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 15th, 2023

M&G Investment Management Ltd. lessened its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,216 shares of the oil and gas company’s stock after selling 308 shares during the period. M&G Investment Management Ltd.’s holdings in Exxon Mobil were worth $1,124,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of XOM. Price T Rowe Associates Inc. MD grew its stake 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 last quarter. Great West Life Assurance Co. Can purchased a new stake in Exxon Mobil during the 3rd quarter valued at about $347,253,000. Dimensional Fund Advisors LP increased its stake in Exxon Mobil by 12.3% during the 3rd 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 in the last quarter. HighTower Trust Company N.A. purchased a new position in Exxon Mobil in the third quarter worth about $237,316,000. Finally, Barclays PLC lifted its stake in shares of Exxon Mobil by 70.9% in the third quarter. Barclays PLC now owns 6,546,333 shares of the oil and gas company’s stock worth $571,557,000 after buying an additional 2,716,651 shares in the last quarter. 57.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

XOM has been the subject of several analyst reports. Cowen raised their price target on shares of Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a research report on Thursday, February 2nd. Mizuho lifted their target price on Exxon Mobil from $140.00 to $147.00 in a report on Friday, March 10th. Scotiabank downgraded Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $140.00 to $135.00 in a report on Thursday. Wells Fargo & Company lifted their price objective on Exxon Mobil from $125.00 to $133.00 and gave the stock an “overweight” rating in a report on Friday, March 3rd. Finally, Redburn Partners cut shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 18th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.91.

Insider Activity

In other news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were 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 in the company, valued at approximately $3,669,666. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Exxon Mobil Stock Up 0.2 %

XOM 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. Exxon Mobil Co. has a 1-year low of $79.29 and a 1-year high of $119.63. The company has a market capitalization of $472.44 billion, a PE ratio of 8.75, a PEG ratio of 0.54 and a beta of 1.08. The firm’s 50 day simple moving average is $110.92 and its two-hundred day simple moving average is $108.82.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings data 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 firm had revenue of $95.43 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. As a group, equities analysts forecast that Exxon Mobil Co. will post 10 EPS for the current year.

Exxon Mobil Dividend Announcement

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

Exxon Mobil Profile

(Get Rating)

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.