Exxon Mobil Co. (NYSE:XOM) Shares Sold by Texas Permanent School Fund

Posted by Defense World Staff on May 8th, 2023

Texas Permanent School Fund reduced its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585,128 shares of the oil and gas company’s stock after selling 4,566 shares during the period. Exxon Mobil comprises about 1.0% of Texas Permanent School Fund’s investment portfolio, making the stock its 9th largest holding. Texas Permanent School Fund’s holdings in Exxon Mobil were worth $64,540,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Exxon Mobil by 94.1% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Exxon Mobil by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock valued at $2,575,190,000 after buying an additional 560,517 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Exxon Mobil by 12.3% during the third 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. Fayez Sarofim & Co increased its stake in shares of Exxon Mobil by 1.9% during the third quarter. Fayez Sarofim & Co now owns 10,717,955 shares of the oil and gas company’s stock worth $935,784,000 after purchasing an additional 196,344 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Exxon Mobil by 16.8% during the third quarter. California Public Employees Retirement System now owns 9,668,202 shares of the oil and gas company’s stock worth $844,131,000 after purchasing an additional 1,390,576 shares during the period. 57.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $116.11, for a total transaction of $290,275.00. Following the transaction, the vice president now directly owns 29,272 shares of the company’s stock, valued at approximately $3,398,771.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

Exxon Mobil Stock Up 2.5 %

Shares of Exxon Mobil stock opened at $108.68 on Monday. Exxon Mobil Co. has a one year low of $80.69 and a one year high of $119.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.46 and a quick ratio of 1.10. The stock’s 50-day moving average is $111.07 and its 200 day moving average is $110.86. The firm has a market cap of $439.39 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.51 and a beta of 1.09.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its earnings results 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. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The company had revenue of $86.56 billion for the quarter, compared to analyst estimates of $90.07 billion. During the same quarter in the prior year, the company earned $2.07 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts anticipate that Exxon Mobil Co. will post 10.01 EPS for the current year.

Exxon Mobil Announces Dividend

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 paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Monday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 24.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Piper Sandler lowered their target price on Exxon Mobil from $135.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, April 20th. Bank of America raised their price objective on Exxon Mobil from $136.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Redburn Partners downgraded Exxon Mobil from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Mizuho raised their target price on Exxon Mobil from $140.00 to $147.00 in a report on Friday, March 10th. Finally, Cowen raised their target price on Exxon Mobil from $108.00 to $113.00 and gave the company a “market perform” rating in a report on Thursday, February 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.