Patten & Patten Inc. TN Sells 258 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 22nd, 2023

Patten & Patten Inc. TN reduced its stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,213 shares of the oil and gas company’s stock after selling 258 shares during the period. Patten & Patten Inc. TN’s holdings in Exxon Mobil were worth $8,627,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Anfield Capital Management LLC acquired a new stake in Exxon Mobil during the fourth quarter worth about $435,000. Janney Capital Management LLC lifted its holdings in shares of Exxon Mobil by 8.6% during the 4th quarter. Janney Capital Management LLC now owns 49,932 shares of the oil and gas company’s stock worth $5,508,000 after acquiring an additional 3,973 shares during the period. Heirloom Wealth Management acquired a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $8,028,000. Janney Montgomery Scott LLC increased its stake in Exxon Mobil by 2.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 1,240,546 shares of the oil and gas company’s stock valued at $136,832,000 after acquiring an additional 25,492 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC raised its position in Exxon Mobil by 1.5% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 31,306 shares of the oil and gas company’s stock valued at $3,453,000 after purchasing an additional 455 shares in the last quarter. Institutional investors own 57.49% of the company’s stock.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction on 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 directly 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 at the SEC website. Insiders own 0.04% of the company’s stock.

Exxon Mobil Stock Performance

NYSE:XOM opened at $116.01 on Friday. The company has a market capitalization of $470.92 billion, a PE ratio of 8.75, a P/E/G ratio of 0.55 and a beta of 1.08. The company has a 50 day simple moving average of $111.10 and a two-hundred day simple moving average of $109.61. 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 Co. has a fifty-two week low of $79.29 and a fifty-two week high of $119.63.

Exxon Mobil (NYSE:XOM – Get Rating) last released its earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, beating 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 business had revenue of $95.43 billion during the quarter, compared to the consensus estimate of $90.21 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. Research analysts anticipate that Exxon Mobil Co. will post 9.99 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 3.14%. The ex-dividend date was Monday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is presently 27.45%.

Analyst Ratings Changes

XOM has been the topic of several recent analyst reports. HSBC lifted their price target on Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research note on Thursday. Cowen lifted 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. Redburn Partners cut shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Bank of America lifted their price target on shares of Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Finally, Truist Financial upped their price objective on shares of Exxon Mobil from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.61.

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.