First Fiduciary Investment Counsel Inc. Buys 406 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on May 8th, 2023

First Fiduciary Investment Counsel Inc. boosted its stake in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,706 shares of the oil and gas company’s stock after acquiring an additional 406 shares during the quarter. First Fiduciary Investment Counsel Inc.’s holdings in Exxon Mobil were worth $298,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Clear Perspectives Financial Planning LLC boosted its stake in shares of Exxon Mobil by 259.0% in the 3rd quarter. Clear Perspectives Financial Planning LLC now owns 377 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 272 shares during the last quarter. Align Wealth Management LLC bought a new position in shares of Exxon Mobil in the 4th quarter valued at about $38,000. Orion Capital Management LLC bought a new position in shares of Exxon Mobil in the 3rd quarter valued at about $44,000. Red Tortoise LLC bought a new position in shares of Exxon Mobil in the 4th quarter valued at about $46,000. Finally, Ulland Investment Advisors LLC raised its position in shares of Exxon Mobil by 67.2% in the 4th quarter. Ulland Investment Advisors LLC now owns 428 shares of the oil and gas company’s stock valued at $47,000 after acquiring an additional 172 shares during the period. Institutional investors own 57.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on XOM shares. Morgan Stanley increased their price target on shares of Exxon Mobil from $118.00 to $122.00 in a research report on Tuesday, May 2nd. Wells Fargo & Company increased their price target on shares of Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Friday, March 3rd. Redburn Partners downgraded shares of Exxon Mobil from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 18th. Argus increased their price target on shares of Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, February 2nd. Finally, Piper Sandler cut their price target on shares of Exxon Mobil from $135.00 to $134.00 and set an “overweight” rating on the stock in a research report on Thursday, April 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.25.

Insider Activity

In other news, VP Darrin L. Talley sold 2,500 shares of the business’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 $3,398,771.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Exxon Mobil Stock Performance

NYSE:XOM opened at $108.68 on Monday. The business has a 50 day moving average of $111.07 and a 200 day moving average of $110.86. The company has a market capitalization 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 Co. has a 1-year low of $80.69 and a 1-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.

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, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $90.07 billion. During the same quarter in the previous year, the company posted $2.07 EPS. Exxon Mobil’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Exxon Mobil Co. will post 10.01 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

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

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.