Agate Pass Investment Management LLC Raises Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on May 2nd, 2023

Agate Pass Investment Management LLC increased its stake in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 20.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,402 shares of the oil and gas company’s stock after purchasing an additional 3,303 shares during the quarter. Exxon Mobil makes up 1.5% of Agate Pass Investment Management LLC’s holdings, making the stock its 22nd largest position. Agate Pass Investment Management LLC’s holdings in Exxon Mobil were worth $2,140,000 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 stock. Cookson Peirce & Co. Inc. increased its position in Exxon Mobil by 16.6% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 10,333 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 1,469 shares in the last quarter. St. Louis Trust Co increased its position in 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 buying an additional 3,507 shares in the last quarter. Kestra Private Wealth Services LLC increased its position in Exxon Mobil by 5.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 117,524 shares of the oil and gas company’s stock valued at $12,963,000 after buying an additional 5,770 shares in the last quarter. Northstar Asset Management LLC increased its position in Exxon Mobil by 3.0% during the 4th quarter. Northstar Asset Management LLC now owns 32,262 shares of the oil and gas company’s stock valued at $3,558,000 after buying an additional 925 shares in the last quarter. Finally, TTP Investments Inc. increased its position in Exxon Mobil by 0.9% during the 4th quarter. TTP Investments Inc. now owns 20,844 shares of the oil and gas company’s stock valued at $2,299,000 after buying an additional 181 shares in the last quarter. 57.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

XOM has been the topic of a number of research reports. Barclays increased their price objective on Exxon Mobil from $111.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, January 3rd. Wells Fargo & Company increased their price objective on Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. Cowen increased their price objective on Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a report on Thursday, February 2nd. HSBC increased their price objective on Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a report on Thursday, April 20th. Finally, StockNews.com started coverage on Exxon Mobil in a report on Thursday, March 16th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $125.07.

Insider Activity

In other news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $115.50, for a total value of $288,750.00. Following the transaction, 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 is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $114.67 on Tuesday. The company has a market capitalization of $465.48 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.55 and a beta of 1.08. The business’s 50 day moving average is $111.27 and its two-hundred day moving average is $110.66. 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 released its earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.18. The business had revenue of $86.56 billion for the quarter, compared to the consensus estimate of $90.07 billion. Exxon Mobil had a return on equity of 31.25% and a net margin of 13.47%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 earnings per share. Analysts expect that Exxon Mobil Co. will post 9.9 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Tuesday, May 16th will be given a $0.91 dividend. The ex-dividend date of this dividend is Monday, May 15th. This represents a $3.64 annualized dividend and a dividend yield of 3.17%. Exxon Mobil’s dividend payout ratio (DPR) is presently 27.45%.

About Exxon Mobil

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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.