Global Wealth Management Investment Advisory Inc. Trims Stock Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on May 8th, 2023

Global Wealth Management Investment Advisory Inc. cut its stake in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,196 shares of the oil and gas company’s stock after selling 6,251 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Exxon Mobil were worth $2,889,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Members Trust Co increased its holdings in Exxon Mobil by 0.4% during the fourth quarter. Members Trust Co now owns 26,205 shares of the oil and gas company’s stock valued at $2,890,000 after buying an additional 102 shares during the period. Canandaigua National Corp increased its holdings in Exxon Mobil by 2.0% during the fourth quarter. Canandaigua National Corp now owns 212,311 shares of the oil and gas company’s stock valued at $23,418,000 after buying an additional 4,261 shares during the period. Modera Wealth Management LLC increased its holdings in Exxon Mobil by 3.1% during the fourth quarter. Modera Wealth Management LLC now owns 33,604 shares of the oil and gas company’s stock valued at $3,706,000 after buying an additional 1,002 shares during the period. J. W. Coons Advisors LLC increased its holdings in Exxon Mobil by 11.5% during the fourth quarter. J. W. Coons Advisors LLC now owns 41,637 shares of the oil and gas company’s stock valued at $4,593,000 after buying an additional 4,296 shares during the period. Finally, Integris Wealth Management LLC purchased a new position in Exxon Mobil during the fourth quarter valued at approximately $634,000. 57.49% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Up 2.5 %

Shares of NYSE XOM opened at $108.68 on Monday. Exxon Mobil Co. has a 12-month low of $80.69 and a 12-month high of $119.92. The stock has a market cap of $439.39 billion, a PE ratio of 7.36, a P/E/G ratio of 0.51 and a beta of 1.09. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $111.07 and a 200 day moving average of $110.86.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.18. Exxon Mobil had a net margin of 15.06% and a return on equity of 31.48%. The company had revenue of $86.56 billion during the quarter, compared to analysts’ expectations of $90.07 billion. During the same quarter in the prior year, the company earned $2.07 EPS. Exxon Mobil’s revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Exxon Mobil Co. will post 10.01 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, May 15th. This represents a $3.64 annualized dividend and a yield of 3.35%. Exxon Mobil’s dividend payout ratio is presently 24.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on XOM shares. The Goldman Sachs Group lowered shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price target on the stock. in a report on Monday, May 1st. StockNews.com started coverage on shares of Exxon Mobil in a report on Thursday, March 16th. They issued a “hold” rating on the stock. 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 report on Thursday, April 20th. Morgan Stanley lifted their price target on shares of Exxon Mobil from $118.00 to $122.00 in a report on Tuesday, May 2nd. Finally, B. Riley lifted their price target on shares of Exxon Mobil from $128.00 to $133.00 and gave the stock a “buy” rating in a report on Thursday, February 2nd. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.25.

Insider Activity at Exxon Mobil

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

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.

Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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