Van ECK Associates Corp Sells 70,349 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on May 11th, 2023

Van ECK Associates Corp decreased its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 48.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,456 shares of the oil and gas company’s stock after selling 70,349 shares during the period. Van ECK Associates Corp’s holdings in Exxon Mobil were worth $8,212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. Wealthquest Corp lifted 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 acquiring an additional 89 shares in the last quarter. Bank of The West lifted its stake in shares of Exxon Mobil by 0.8% in the fourth quarter. Bank of The West now owns 10,726 shares of the oil and gas company’s stock worth $1,183,000 after acquiring an additional 89 shares in the last quarter. Motive Wealth Advisors lifted 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 worth $472,000 after acquiring an additional 90 shares in the last quarter. Smart Money Group LLC lifted its stake in shares of Exxon Mobil by 3.8% in 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 in 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 in the last quarter. Institutional investors own 57.49% of the company’s stock.

Exxon Mobil Trading Down 1.3 %

Shares of XOM opened at $107.74 on Thursday. Exxon Mobil Co. has a twelve month low of $80.69 and a twelve month high of $119.92. The company has a market cap of $435.59 billion, a P/E ratio of 7.29, 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’s fifty day simple moving average is $110.97 and its 200-day simple moving average is $110.89.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings data 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 net margin of 15.06% and a return on equity of 31.48%. The firm had revenue of $86.56 billion during the quarter, compared to analyst estimates of $90.07 billion. During the same period last year, the firm posted $2.07 EPS. Exxon Mobil’s revenue was down 4.3% on a year-over-year basis. As a group, analysts expect that Exxon Mobil Co. will post 10.01 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Shareholders 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 yield of 3.38%. Exxon Mobil’s dividend payout ratio (DPR) is presently 24.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on XOM shares. The Goldman Sachs Group lowered Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 target price for the company. in a report on Monday, May 1st. Morgan Stanley increased their price objective on Exxon Mobil from $118.00 to $122.00 in a report on Tuesday, May 2nd. Scotiabank lowered Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $140.00 to $135.00 in a research note on Thursday, April 13th. Redburn Partners lowered Exxon Mobil from a “neutral” rating to a “sell” rating in a research note on Wednesday, January 18th. Finally, UBS Group raised Exxon Mobil from a “neutral” rating to a “buy” rating and raised their target price for the stock from $125.00 to $144.00 in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.25.

Insider Transactions at Exxon Mobil

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 value of $290,275.00. Following the completion of the transaction, the vice president now directly owns 29,272 shares of the company’s stock, valued at $3,398,771.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

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.

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

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