Provence Wealth Management Group Invests $699,000 in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 25th, 2023

Provence Wealth Management Group bought a new position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,334 shares of the oil and gas company’s stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in XOM. My Personal CFO LLC boosted its holdings in Exxon Mobil by 15,000.0% in the 4th quarter. My Personal CFO LLC now owns 302 shares of the oil and gas company’s stock valued at $262,000 after purchasing an additional 300 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Exxon Mobil during the 3rd quarter worth approximately $28,000. Clear Perspectives Financial Planning LLC boosted its stake in shares of Exxon Mobil by 259.0% during the 3rd quarter. Clear Perspectives Financial Planning LLC now owns 377 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 272 shares in the last quarter. Red Tortoise LLC purchased a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $46,000. Finally, Ulland Investment Advisors LLC boosted its stake in shares of Exxon Mobil by 67.2% during the 4th quarter. Ulland Investment Advisors LLC now owns 428 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 172 shares in the last quarter. Institutional investors and hedge funds own 57.49% of the company’s stock.

Exxon Mobil Trading Up 1.9 %

Shares of XOM opened at $118.20 on Tuesday. The stock has a fifty day moving average of $111.05 and a two-hundred day moving average of $110.07. 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. The company has a market capitalization of $479.81 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, topping 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 firm had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $90.21 billion. During the same period in the prior year, the company earned $2.05 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, analysts forecast that Exxon Mobil Co. will post 9.9 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, February 13th. This represents a $3.64 dividend on an annualized basis and a yield of 3.08%. Exxon Mobil’s dividend payout ratio (DPR) is 27.45%.

Analyst Upgrades and Downgrades

XOM has been the topic of several research analyst reports. Morgan Stanley boosted their price target on Exxon Mobil from $114.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 19th. Bank of America boosted their price target on Exxon Mobil from $136.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Truist Financial upped their target price on Exxon Mobil from $110.00 to $116.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. B. Riley upped their target price on Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. Finally, Cowen upped their target price on Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a research note on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $124.61.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were 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 directly owns 31,772 shares of the company’s stock, valued at approximately $3,669,666. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by corporate 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.