Garrett Wealth Advisory Group LLC Cuts Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 25th, 2023

Garrett Wealth Advisory Group LLC lessened its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 26.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,078 shares of the oil and gas company’s stock after selling 7,136 shares during the quarter. Exxon Mobil comprises 1.1% of Garrett Wealth Advisory Group LLC’s portfolio, making the stock its 17th biggest holding. Garrett Wealth Advisory Group LLC’s holdings in Exxon Mobil were worth $2,215,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in XOM. Price T Rowe Associates Inc. MD grew its holdings in Exxon Mobil by 94.1% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock valued at $3,463,672,000 after buying an additional 19,230,872 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in Exxon Mobil during the 3rd quarter valued at approximately $347,253,000. Dimensional Fund Advisors LP boosted its holdings in shares of 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. Barclays PLC boosted its holdings in shares of Exxon Mobil by 70.9% in the 3rd quarter. Barclays PLC now owns 6,546,333 shares of the oil and gas company’s stock worth $571,557,000 after purchasing an additional 2,716,651 shares during the period. Finally, CFS Investment Advisory Services LLC boosted its holdings in shares of Exxon Mobil by 8,427.5% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 1,930,117 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 1,907,483 shares during the period. Hedge funds and other institutional investors own 57.49% of the company’s stock.

Exxon Mobil Trading Up 1.9 %

Shares of NYSE XOM opened at $118.20 on Tuesday. The company has a quick ratio of 1.06, a current ratio of 1.41 and a debt-to-equity ratio of 0.20. The business has a fifty day simple moving average of $111.05 and a two-hundred day simple moving average of $110.07. The firm has a market cap 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 Co. has a twelve month low of $79.29 and a twelve month high of $119.63.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its earnings results on Tuesday, January 31st. The oil and gas company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $3.32 by $0.08. The business had revenue of $95.43 billion during the quarter, compared to analyst estimates of $90.21 billion. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. Exxon Mobil’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS. Analysts expect that Exxon Mobil Co. will post 9.9 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 14th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Monday, February 13th. Exxon Mobil’s dividend payout ratio (DPR) is currently 27.45%.

Analyst Ratings Changes

XOM has been the subject of a number of recent research reports. Truist Financial lifted their target price on Exxon Mobil from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Tuesday, April 11th. StockNews.com initiated coverage on Exxon Mobil in a report on Thursday, March 16th. They issued a “hold” rating for the company. Morgan Stanley lifted their target price on Exxon Mobil from $114.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Piper Sandler dropped their target price on Exxon Mobil from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, April 20th. Finally, Bank of America lifted their target price on Exxon Mobil from $136.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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 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 directly owns 31,772 shares in the company, valued at approximately $3,669,666. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by company insiders.

Exxon Mobil Company Profile

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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.