Exxon Mobil Co. (NYSE:XOM) Shares Sold by Exchange Capital Management Inc.

Posted by Defense World Staff on Apr 21st, 2023

Exchange Capital Management Inc. trimmed its holdings in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,579 shares of the oil and gas company’s stock after selling 130 shares during the period. Exchange Capital Management Inc.’s holdings in Exxon Mobil were worth $4,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of XOM. Axiom Financial Strategies LLC increased its position in Exxon Mobil by 17.4% during the first quarter. Axiom Financial Strategies LLC now owns 7,909 shares of the oil and gas company’s stock worth $680,000 after purchasing an additional 1,173 shares during the last quarter. Retirement Income Solutions Inc acquired a new stake in Exxon Mobil during the first quarter worth about $275,000. Loomis Sayles & Co. L P increased its position in Exxon Mobil by 318.8% during the first quarter. Loomis Sayles & Co. L P now owns 17,163 shares of the oil and gas company’s stock worth $1,417,000 after purchasing an additional 13,065 shares during the last quarter. Ergoteles LLC increased its position in Exxon Mobil by 95.6% during the first quarter. Ergoteles LLC now owns 15,843 shares of the oil and gas company’s stock worth $1,308,000 after purchasing an additional 7,744 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new stake in Exxon Mobil during the first quarter worth about $237,000. 57.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XOM has been the subject of several research analyst reports. Redburn Partners lowered shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 18th. Cowen increased their target price on shares of Exxon Mobil from $108.00 to $113.00 and gave the stock a “market perform” rating in a research note on Thursday, February 2nd. Barclays increased their target price on shares of Exxon Mobil from $111.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. StockNews.com initiated coverage on shares of Exxon Mobil in a research note on Thursday, March 16th. They set a “hold” rating for the company. Finally, UBS Group raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and increased their target price for the stock from $125.00 to $144.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.54.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction that occurred 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 owns 31,772 shares of the company’s stock, valued at $3,669,666. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by corporate insiders.

Exxon Mobil Stock Down 0.8 %

XOM stock opened at $115.64 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 twelve month low of $79.29 and a twelve month high of $119.63. The company’s 50 day moving average is $111.10 and its two-hundred day moving average is $109.61. The stock has a market cap of $469.42 billion, a P/E ratio of 8.72, a PEG ratio of 0.54 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Get Rating) last released its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.08. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. The company had revenue of $95.43 billion for the quarter, compared to analysts’ expectations of $90.21 billion. During the same quarter last year, the company earned $2.05 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts expect that Exxon Mobil Co. will post 9.93 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Tuesday, February 14th were issued a dividend of $0.91 per share. The ex-dividend date of this dividend was Monday, February 13th. This represents a $3.64 dividend on an annualized basis and a yield of 3.15%. 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.