Encompass Wealth Advisors LLC Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 23rd, 2023

Encompass Wealth Advisors LLC reduced its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,731 shares of the oil and gas company’s stock after selling 242 shares during the period. Encompass Wealth Advisors LLC’s holdings in Exxon Mobil were worth $522,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on XOM. Bank of America lifted their price target on Exxon Mobil from $136.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Argus upped their target price on shares of Exxon Mobil from $128.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Truist Financial raised their price objective on Exxon Mobil from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Tuesday, April 11th. HSBC boosted their target price on Exxon Mobil from $113.50 to $115.50 and gave the stock a “hold” rating in a report on Thursday. Finally, UBS Group upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and raised their price target for the company from $125.00 to $144.00 in a report on Tuesday, April 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and an average price target of $124.61.

Exxon Mobil Stock Up 0.3 %

XOM stock opened at $116.01 on Friday. Exxon Mobil Co. has a 1-year low of $79.29 and a 1-year high of $119.63. The business has a fifty day moving average price of $111.04 and a 200-day moving average price of $109.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.41 and a quick ratio of 1.06. The stock has a market capitalization of $470.92 billion, a P/E ratio of 8.75, a P/E/G ratio of 0.54 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.08. The firm had revenue of $95.43 billion during 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 company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. Equities analysts forecast 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 given a dividend of $0.91 per share. 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 presently 27.45%.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction 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 sale, the vice president now owns 31,772 shares in the company, valued at $3,669,666. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

About Exxon Mobil

(Get Rating)

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.