Kanawha Capital Management LLC Decreases Stake in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 22nd, 2023

Kanawha Capital Management LLC trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 142,767 shares of the oil and gas company’s stock after selling 1,112 shares during the period. Exxon Mobil comprises about 1.5% of Kanawha Capital Management LLC’s portfolio, making the stock its 21st biggest position. Kanawha Capital Management LLC’s holdings in Exxon Mobil were worth $15,747,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. raised its holdings in shares of Exxon Mobil by 16.6% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 10,333 shares of the oil and gas company’s stock valued at $1,140,000 after purchasing an additional 1,469 shares in the last quarter. CTC Capital Management LLC purchased a new position in Exxon Mobil in the third quarter valued at $1,807,000. Kestra Private Wealth Services LLC raised its stake in Exxon Mobil by 5.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 117,524 shares of the oil and gas company’s stock valued at $12,963,000 after buying an additional 5,770 shares in the last quarter. Northstar Asset Management LLC lifted its holdings in Exxon Mobil by 3.0% during the 4th quarter. Northstar Asset Management LLC now owns 32,262 shares of the oil and gas company’s stock worth $3,558,000 after buying an additional 925 shares during the last quarter. Finally, TTP Investments Inc. boosted its position in shares of Exxon Mobil by 0.9% during the 4th quarter. TTP Investments Inc. now owns 20,844 shares of the oil and gas company’s stock worth $2,299,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 57.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on XOM. Piper Sandler decreased their target price on Exxon Mobil from $135.00 to $134.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays boosted their price objective on shares of Exxon Mobil from $111.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 3rd. Truist Financial lifted their price target on shares of Exxon Mobil from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. HSBC upped their price objective on shares of Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research note on Thursday. Finally, Argus lifted their target price on Exxon Mobil from $128.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $124.61.

Exxon Mobil Trading Up 0.3 %

Shares of Exxon Mobil stock opened at $116.01 on Friday. The firm has a market cap of $470.92 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 0.55 and a beta of 1.08. Exxon Mobil Co. has a 52-week low of $79.29 and a 52-week high of $119.63. The company’s 50-day simple moving average is $111.10 and its 200-day simple moving average is $109.61. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 0.20.

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 (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%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, equities research analysts anticipate that Exxon Mobil Co. will post 9.99 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Tuesday, February 14th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Monday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is currently 27.45%.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,500 shares of the firm’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 $3,669,666. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

About Exxon Mobil

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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.