TrinityPoint Wealth LLC Grows Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on May 8th, 2023

TrinityPoint Wealth LLC raised its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,824 shares of the oil and gas company’s stock after buying an additional 5,216 shares during the quarter. Exxon Mobil makes up approximately 0.9% of TrinityPoint Wealth LLC’s portfolio, making the stock its 25th biggest position. TrinityPoint Wealth LLC’s holdings in Exxon Mobil were worth $3,951,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its position in Exxon Mobil by 19.9% in the 4th quarter. Toronto Dominion Bank now owns 3,389,124 shares of the oil and gas company’s stock valued at $373,632,000 after acquiring an additional 562,982 shares during the period. First Fiduciary Investment Counsel Inc. increased its holdings in shares of Exxon Mobil by 17.7% in the fourth quarter. First Fiduciary Investment Counsel Inc. now owns 2,706 shares of the oil and gas company’s stock valued at $298,000 after purchasing an additional 406 shares during the period. Chapman Investment Management LLC raised its stake in shares of Exxon Mobil by 2.9% during the fourth quarter. Chapman Investment Management LLC now owns 66,270 shares of the oil and gas company’s stock worth $7,310,000 after purchasing an additional 1,873 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its position in Exxon Mobil by 0.9% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 119,126 shares of the oil and gas company’s stock valued at $13,140,000 after buying an additional 1,107 shares during the last quarter. Finally, Capital Insight Partners LLC increased its stake in Exxon Mobil by 11.7% in the 4th quarter. Capital Insight Partners LLC now owns 5,280 shares of the oil and gas company’s stock valued at $582,000 after buying an additional 551 shares during the period. 57.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the firm’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 completion of the sale, the vice president now owns 29,272 shares in the company, valued at approximately $3,398,771.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $108.68 on Monday. The company has a market cap of $439.39 billion, a P/E ratio of 7.36, a PEG ratio of 0.51 and a beta of 1.09. Exxon Mobil Co. has a one year low of $80.69 and a one year high of $119.92. The business’s 50-day simple moving average is $111.07 and its 200 day simple 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 posted its earnings results on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.18. The business had revenue of $86.56 billion for the quarter, compared to analysts’ expectations of $90.07 billion. Exxon Mobil had a net margin of 15.06% and a return on equity of 31.48%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 earnings per share. On average, sell-side analysts forecast that Exxon Mobil Co. will post 10.01 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

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 is Monday, May 15th. This represents a $3.64 annualized dividend and a dividend yield of 3.35%. Exxon Mobil’s dividend payout ratio is presently 24.64%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on XOM. Truist Financial lifted their target price on shares of Exxon Mobil from $116.00 to $118.00 in a report on Monday, May 1st. Piper Sandler reduced their price objective on Exxon Mobil from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, April 20th. Cowen lifted their price target on Exxon Mobil from $108.00 to $113.00 and gave the stock a “market perform” rating in a research note on Thursday, February 2nd. Wells Fargo & Company raised their target price on shares of Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, March 3rd. Finally, B. Riley upped their price target on shares of Exxon Mobil from $128.00 to $133.00 and gave the company a “buy” rating in a report on Thursday, February 2nd. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $125.25.

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.