W.H. Cornerstone Investments Inc. Decreases Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 24th, 2023

W.H. Cornerstone Investments Inc. trimmed its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 20.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,360 shares of the oil and gas company’s stock after selling 862 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Exxon Mobil were worth $380,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Exxon Mobil by 94.1% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock worth $3,463,672,000 after purchasing an additional 19,230,872 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Exxon Mobil by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock worth $2,575,190,000 after purchasing an additional 560,517 shares during the period. Dimensional Fund Advisors LP increased its stake in Exxon Mobil by 12.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 28,269,263 shares of the oil and gas company’s stock worth $2,468,477,000 after purchasing an additional 3,094,957 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Exxon Mobil by 2.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,456,421 shares of the oil and gas company’s stock worth $1,087,570,000 after purchasing an additional 317,096 shares during the period. Finally, Fayez Sarofim & Co increased its stake in Exxon Mobil by 1.9% in the 3rd quarter. Fayez Sarofim & Co now owns 10,717,955 shares of the oil and gas company’s stock worth $935,784,000 after purchasing an additional 196,344 shares during the period. 57.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on XOM. Barclays lifted their price target on Exxon Mobil from $111.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 3rd. Wells Fargo & Company lifted their price objective on Exxon Mobil from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. Morgan Stanley lifted their price objective on Exxon Mobil from $114.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 19th. UBS Group upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $144.00 in a research report on Tuesday, April 18th. Finally, Bank of America lifted their price objective on Exxon Mobil from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus target price of $124.61.

Exxon Mobil Trading Up 0.3 %

Exxon Mobil stock opened at $116.01 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $111.04 and its two-hundred day simple moving average is $109.95. Exxon Mobil Co. has a 12 month low of $79.29 and a 12 month high of $119.63. The company has a market capitalization of $470.92 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth 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. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. The firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $90.21 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Exxon Mobil Co. will post 9.9 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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 of this dividend 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.