Castle Rock Wealth Management LLC Boosts Stake in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 19th, 2023

Castle Rock Wealth Management LLC lifted its stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,060 shares of the oil and gas company’s stock after buying an additional 568 shares during the period. Castle Rock Wealth Management LLC’s holdings in Exxon Mobil were worth $1,420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of XOM. Price T Rowe Associates Inc. MD raised its stake in Exxon Mobil by 94.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock valued at $3,463,672,000 after buying an additional 19,230,872 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Exxon Mobil by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock valued at $2,575,190,000 after buying an additional 560,517 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Exxon Mobil by 12.3% during the third 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 buying an additional 3,094,957 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Exxon Mobil by 2.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,456,421 shares of the oil and gas company’s stock valued at $1,087,570,000 after buying an additional 317,096 shares in the last quarter. Finally, Fayez Sarofim & Co raised its stake in Exxon Mobil by 1.9% during the third quarter. Fayez Sarofim & Co now owns 10,717,955 shares of the oil and gas company’s stock valued at $935,784,000 after buying an additional 196,344 shares in the last quarter. Hedge funds and other institutional investors own 57.49% of the company’s stock.

Exxon Mobil Trading Up 2.0 %

Shares of NYSE:XOM opened at $116.94 on Wednesday. The company has a market cap 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 stock’s 50-day moving average is $110.98 and its 200-day moving average is $109.31. Exxon Mobil Co. has a 52-week low of $79.29 and a 52-week high of $119.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.06 and a current ratio of 1.41.

Exxon Mobil (NYSE:XOM – Get Rating) last issued 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. The company had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $90.21 billion. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $2.05 earnings per share. Equities research analysts predict that Exxon Mobil Co. will post 9.95 earnings per share for the current 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 given a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Monday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is presently 27.45%.

Wall Street Analyst Weigh In

XOM has been the topic of a number of research reports. Barclays increased their price target on Exxon Mobil from $111.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Redburn Partners cut Exxon Mobil from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 18th. StockNews.com assumed coverage on Exxon Mobil in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Cowen raised their target price on Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a research report on Thursday, February 2nd. Finally, B. Riley increased their price target on Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.91.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction dated Wednesday, February 1st. The stock was 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 of the company’s stock, valued at $3,669,666. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.04% of the stock is owned by company 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.