Parallel Advisors LLC Acquires 2,413 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Apr 30th, 2023

Parallel Advisors LLC raised its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,632 shares of the oil and gas company’s stock after acquiring an additional 2,413 shares during the quarter. Parallel Advisors LLC’s holdings in Exxon Mobil were worth $6,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Twin Lakes Capital Management LLC grew its position in shares of Exxon Mobil by 0.7% during the 4th quarter. Twin Lakes Capital Management LLC now owns 42,591 shares of the oil and gas company’s stock valued at $4,698,000 after purchasing an additional 291 shares in the last quarter. Martin & Co. Inc. TN grew its position in shares of Exxon Mobil by 3.3% during the 4th quarter. Martin & Co. Inc. TN now owns 31,436 shares of the oil and gas company’s stock valued at $3,467,000 after purchasing an additional 1,003 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Exxon Mobil during the 4th quarter valued at $914,000. Eagle Strategies LLC purchased a new position in shares of Exxon Mobil during the 4th quarter valued at $3,406,000. Finally, St. Louis Trust Co grew its position in shares of Exxon Mobil by 11.0% during the 4th quarter. St. Louis Trust Co now owns 35,533 shares of the oil and gas company’s stock valued at $3,919,000 after purchasing an additional 3,507 shares in the last quarter. 57.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $115.50, for a total value of $288,750.00. Following the completion of the transaction, the vice president now directly owns 31,772 shares of the company’s stock, valued at $3,669,666. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on XOM. Morgan Stanley boosted their price target on shares of Exxon Mobil from $114.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Wells Fargo & Company upped their target price on shares of Exxon Mobil from $125.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. UBS Group upgraded shares of Exxon Mobil from a “neutral” rating to a “buy” rating and upped their target price for the stock from $125.00 to $144.00 in a research report on Tuesday, April 18th. HSBC upped their target price on shares of Exxon Mobil from $113.50 to $115.50 and gave the stock a “hold” rating in a research report on Thursday, April 20th. Finally, 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. One equities 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 company’s stock. According to data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average price target of $124.61.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $118.34 on Friday. The company has a market cap of $480.38 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 0.55 and a beta of 1.08. The company has a 50-day moving average price of $111.20 and a 200-day moving average price of $110.48. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 0.20. Exxon Mobil Co. has a 12 month low of $80.69 and a 12 month high of $119.92.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.65 by $0.18. The firm had revenue of $86.56 billion during the quarter, compared to the consensus estimate of $90.07 billion. Exxon Mobil had a net margin of 13.47% and a return on equity of 31.25%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 earnings per share. As a group, equities analysts anticipate that Exxon Mobil Co. will post 9.9 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Tuesday, May 16th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, May 15th. Exxon Mobil’s payout ratio is currently 27.45%.

Exxon Mobil 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.