Connectus Wealth LLC Has $14.31 Million Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on May 8th, 2023

Connectus Wealth LLC lowered its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 28.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 129,712 shares of the oil and gas company’s stock after selling 50,341 shares during the quarter. Connectus Wealth LLC’s holdings in Exxon Mobil were worth $14,312,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Wealthquest Corp grew its stake in shares of Exxon Mobil by 1.4% in the third quarter. Wealthquest Corp now owns 6,629 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 89 shares during the last quarter. Bank of The West grew its position in shares of Exxon Mobil by 0.8% in the 4th quarter. Bank of The West now owns 10,726 shares of the oil and gas company’s stock valued at $1,183,000 after buying an additional 89 shares during the last quarter. Motive Wealth Advisors increased its stake in shares of Exxon Mobil by 2.1% in the fourth quarter. Motive Wealth Advisors now owns 4,277 shares of the oil and gas company’s stock valued at $472,000 after buying an additional 90 shares during the period. Smart Money Group LLC raised its position in shares of Exxon Mobil by 3.8% during the fourth quarter. Smart Money Group LLC now owns 2,468 shares of the oil and gas company’s stock worth $272,000 after acquiring an additional 91 shares during the last quarter. Finally, Tarbox Family Office Inc. lifted its stake in shares of Exxon Mobil by 1.2% in the fourth quarter. Tarbox Family Office Inc. now owns 7,968 shares of the oil and gas company’s stock worth $879,000 after acquiring an additional 93 shares during the period. Institutional investors own 57.49% of the company’s stock.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction that occurred 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 transaction, the vice president now owns 29,272 shares of the company’s stock, valued at approximately $3,398,771.92. 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 corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Redburn Partners lowered shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. UBS Group upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and increased their price target for the stock from $125.00 to $144.00 in a report on Tuesday, April 18th. 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 report on Thursday, February 2nd. Morgan Stanley lifted their target price on Exxon Mobil from $118.00 to $122.00 in a report on Tuesday, May 2nd. Finally, Truist Financial increased their price target on Exxon Mobil from $116.00 to $118.00 in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $125.25.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $108.68 on Monday. Exxon Mobil Co. has a 52 week low of $80.69 and a 52 week high of $119.92. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $111.07 and a 200-day moving average price of $110.86. The company 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 (NYSE:XOM – Get Rating) last announced its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.18. The business had revenue of $86.56 billion during the quarter, compared to the consensus estimate of $90.07 billion. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. Exxon Mobil’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.07 earnings per share. Equities analysts anticipate that Exxon Mobil Co. will post 10.01 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Tuesday, May 16th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.35%. The ex-dividend date is Monday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 24.64%.

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.