Heirloom Wealth Management Invests $8.03 Million in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 22nd, 2023

Heirloom Wealth Management bought a new stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 72,788 shares of the oil and gas company’s stock, valued at approximately $8,028,000. Exxon Mobil accounts for about 5.0% of Heirloom Wealth Management’s portfolio, making the stock its 8th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in XOM. Karp Capital Management Corp acquired a new stake in shares of Exxon Mobil in the 3rd quarter valued at $28,000. Clear Perspectives Financial Planning LLC grew its stake in Exxon Mobil by 259.0% during the third quarter. Clear Perspectives Financial Planning LLC now owns 377 shares of the oil and gas company’s stock worth $33,000 after buying an additional 272 shares during the last quarter. Align Wealth Management LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $38,000. Mine & Arao Wealth Creation & Management LLC. raised its stake in shares of Exxon Mobil by 61.7% in 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 acquiring an additional 169 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new position in shares of Exxon Mobil in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 57.49% of the company’s stock.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total transaction of $288,750.00. Following the completion of the transaction, the vice president now owns 31,772 shares of the company’s stock, valued at approximately $3,669,666. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Argus raised their price target on Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. Morgan Stanley lifted their price target on Exxon Mobil from $114.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday. Cowen raised their price objective on shares of Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a research report on Thursday, February 2nd. Bank of America boosted their target price on Exxon Mobil from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 1st. Finally, UBS Group upgraded shares of Exxon Mobil from a “neutral” rating to a “buy” rating and upped their target price for the company from $125.00 to $144.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average price target of $124.61.

Exxon Mobil Price Performance

NYSE XOM opened at $116.01 on Friday. 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 52-week low of $79.29 and a 52-week high of $119.63. The business has a 50 day simple moving average of $111.10 and a 200 day simple moving average of $109.61. The stock has a market cap of $470.92 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.55 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.08. The business had revenue of $95.43 billion for the quarter, compared to analyst estimates of $90.21 billion. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $2.05 earnings per share. Analysts anticipate that Exxon Mobil Co. will post 9.99 earnings per share for the current fiscal 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 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 dividend yield of 3.14%. Exxon Mobil’s payout ratio is presently 27.45%.

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.