Melfa Wealth Management LLC Makes New $1.53 Million Investment in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 19th, 2023

Melfa Wealth Management LLC acquired a new stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,875 shares of the oil and gas company’s stock, valued at approximately $1,530,000. Exxon Mobil makes up 1.6% of Melfa Wealth Management LLC’s portfolio, making the stock its 17th largest position.

Other hedge funds have also recently made changes to their positions in the company. Karp Capital Management Corp purchased a new stake in Exxon Mobil in the 3rd quarter worth $28,000. Clear Perspectives Financial Planning LLC increased its holdings in shares of Exxon Mobil by 259.0% in the third quarter. Clear Perspectives Financial Planning LLC now owns 377 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 272 shares during the last quarter. Align Wealth Management LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter worth about $38,000. Mine & Arao Wealth Creation & Management LLC. boosted its stake in Exxon Mobil by 61.7% during the third quarter. Mine & Arao Wealth Creation & Management LLC. now owns 443 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 169 shares during the last quarter. Finally, Orion Capital Management LLC bought a new position in Exxon Mobil during the third quarter valued at approximately $44,000. Institutional investors own 57.49% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on XOM. Redburn Partners cut Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Truist Financial upped their price target on shares of Exxon Mobil from $110.00 to $116.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Mizuho lifted their price objective on shares of Exxon Mobil from $140.00 to $147.00 in a research note on Friday, March 10th. Bank of America upped their target price on shares of Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Finally, Argus increased their price target 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.91.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,500 shares of the business’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 sale, the vice president now owns 31,772 shares in the company, valued at approximately $3,669,666. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.04% of the stock is owned by insiders.

Exxon Mobil Price Performance

Shares of XOM stock opened at $116.94 on Wednesday. The company has a market capitalization of $474.69 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.55 and a beta of 1.08. The company’s 50-day simple moving average is $110.98 and its two-hundred day simple moving average is $109.31. Exxon Mobil Co. has a one year low of $79.29 and a one year high of $119.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.06.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.08. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $90.21 billion. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. Exxon Mobil’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. As a group, equities analysts anticipate that Exxon Mobil Co. will post 9.95 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed 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 was Monday, February 13th. This represents a $3.64 annualized dividend and a dividend yield of 3.11%. 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.