State Board of Administration of Florida Retirement System Reduces Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on May 8th, 2023

State Board of Administration of Florida Retirement System cut its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,707,864 shares of the oil and gas company’s stock after selling 117,380 shares during the period. Exxon Mobil accounts for 1.3% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 8th largest holding. State Board of Administration of Florida Retirement System owned 0.11% of Exxon Mobil worth $519,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of XOM. Axiom Financial Strategies LLC lifted its stake in shares of Exxon Mobil by 17.4% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,909 shares of the oil and gas company’s stock worth $680,000 after buying an additional 1,173 shares during the last quarter. Retirement Income Solutions Inc bought a new position in shares of Exxon Mobil during the first quarter worth approximately $275,000. Loomis Sayles & Co. L P lifted its holdings in Exxon Mobil by 318.8% during the 1st quarter. Loomis Sayles & Co. L P now owns 17,163 shares of the oil and gas company’s stock worth $1,417,000 after purchasing an additional 13,065 shares during the last quarter. Ergoteles LLC grew its holdings in Exxon Mobil by 95.6% in the 1st quarter. Ergoteles LLC now owns 15,843 shares of the oil and gas company’s stock valued at $1,308,000 after buying an additional 7,744 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new position in Exxon Mobil during the 1st quarter worth $237,000. Institutional investors own 57.49% of the company’s stock.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $116.11, for a total transaction of $290,275.00. Following the sale, the vice president now owns 29,272 shares of the company’s stock, valued at $3,398,771.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $108.68 on Monday. The firm has a market cap of $439.39 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 0.51 and a beta of 1.09. Exxon Mobil Co. has a 52 week low of $80.69 and a 52 week high of $119.92. The firm’s fifty day moving average is $111.07 and its 200-day moving average is $110.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.46.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its quarterly 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 company had revenue of $86.56 billion during the quarter, compared to analysts’ expectations of $90.07 billion. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 earnings per share. Sell-side analysts predict that Exxon Mobil Co. will post 10.01 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders 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 dividend yield of 3.35%. The ex-dividend date is Monday, May 15th. Exxon Mobil’s dividend payout ratio is currently 24.64%.

Analyst Upgrades and Downgrades

XOM has been the topic of several research reports. Argus upped their price target on shares of Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a research note on Thursday, February 2nd. B. Riley increased their price target on Exxon Mobil from $128.00 to $133.00 and gave the stock a “buy” rating in a research report on Thursday, February 2nd. Scotiabank cut Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $140.00 to $135.00 in a report on Thursday, April 13th. HSBC increased their target price on Exxon Mobil from $113.50 to $115.50 and gave the stock a “hold” rating in a report on Thursday, April 20th. Finally, Morgan Stanley boosted their price target on Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.25.

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.