Flagstone Financial Management Takes $1.16 Million Position in Exxon Mobil Co. (NYSE:XOM)

Posted by on Jun 18th, 2023

Flagstone Financial Management acquired a new stake in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,477 shares of the oil and gas company’s stock, valued at approximately $1,156,000. Exxon Mobil comprises approximately 0.7% of Flagstone Financial Management’s holdings, making the stock its 16th biggest position.

A number of other hedge funds have also recently made changes to their positions in XOM. Moneta Group Investment Advisors LLC boosted its holdings in Exxon Mobil by 140,855.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company’s stock worth $13,604,575,000 after purchasing an additional 123,254,064 shares during the last quarter. Norges Bank purchased a new position in Exxon Mobil during the fourth quarter worth about $5,226,390,000. Price T Rowe Associates Inc. MD raised its position in 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 worth $3,463,672,000 after acquiring an additional 19,230,872 shares during the period. Morgan Stanley raised its position in Exxon Mobil by 11.9% in the fourth quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock worth $5,788,398,000 after acquiring an additional 5,566,797 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Exxon Mobil by 272.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,606,938 shares of the oil and gas company’s stock worth $287,545,000 after acquiring an additional 1,906,940 shares during the period. 57.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were 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 owns 29,272 shares of the company’s stock, valued at approximately $3,398,771.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several research reports. Jefferies Financial Group lowered their price objective on shares of Exxon Mobil from $148.00 to $140.00 in a research report on Monday, May 15th. UBS Group raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $144.00 in a research report on Tuesday, April 18th. Royal Bank of Canada lowered shares of Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 price objective on the stock. in a research report on Thursday, June 1st. The Goldman Sachs Group lowered shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research report on Monday, May 1st. Finally, Morgan Stanley boosted their price target on shares of Exxon Mobil from $118.00 to $122.00 in a research report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.70.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $105.13 on Friday. The firm’s 50 day simple moving average is $109.32 and its 200 day simple moving average is $109.81. 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 firm has a market capitalization of $425.04 billion, a PE ratio of 7.12, a price-to-earnings-growth ratio of 0.62 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.

Exxon Mobil (NYSE:XOM – Get Rating) last released its quarterly 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. Exxon Mobil had a net margin of 15.06% and a return on equity of 31.48%. The business had revenue of $86.56 billion during the quarter, compared to analysts’ expectations of $90.07 billion. During the same quarter in the previous year, the company earned $2.07 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts expect that Exxon Mobil Co. will post 9.59 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were paid a $0.91 dividend. The ex-dividend date of this dividend was Monday, May 15th. This represents a $3.64 dividend on an annualized basis and a yield of 3.46%. Exxon Mobil’s dividend payout ratio is presently 24.64%.

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.

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

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