Patten Group Inc. Boosts Position in Exxon Mobil Co. (NYSE:XOM)

Posted by on Jun 20th, 2023

Patten Group Inc. boosted its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,491 shares of the oil and gas company’s stock after buying an additional 858 shares during the quarter. Exxon Mobil accounts for about 1.0% of Patten Group Inc.’s portfolio, making the stock its 18th largest holding. Patten Group Inc.’s holdings in Exxon Mobil were worth $3,453,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of XOM. Moneta Group Investment Advisors LLC raised its position in Exxon Mobil by 140,855.3% during the 4th 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 buying an additional 123,254,064 shares during the last quarter. Norges Bank purchased a new position in shares of Exxon Mobil during the 4th quarter valued at approximately $5,226,390,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Exxon Mobil by 94.1% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock valued at $3,463,672,000 after purchasing an additional 19,230,872 shares in the last quarter. Morgan Stanley increased its holdings in shares of Exxon Mobil by 11.9% during the 4th quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock valued at $5,788,398,000 after purchasing an additional 5,566,797 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Exxon Mobil by 272.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,606,938 shares of the oil and gas company’s stock valued at $287,545,000 after purchasing an additional 1,906,940 shares in the last quarter. 58.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction dated 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 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 SEC, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler cut their target price on shares of Exxon Mobil from $145.00 to $127.00 in a report on Tuesday, June 13th. StockNews.com assumed coverage on shares of Exxon Mobil in a report on Thursday, May 18th. They set a “hold” rating for the company. Jefferies Financial Group cut their target price on shares of Exxon Mobil from $148.00 to $140.00 in a report on Monday, May 15th. Mizuho dropped their price target on shares of Exxon Mobil from $147.00 to $130.00 in a research note on Friday, May 19th. Finally, UBS Group raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $125.00 to $144.00 in a research note on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $124.70.

Exxon Mobil Stock Down 0.7 %

Shares of NYSE:XOM opened at $105.13 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.46 and a quick ratio of 1.10. The firm has a market capitalization of $425.04 billion, a PE ratio of 7.12, a price-to-earnings-growth ratio of 0.61 and a beta of 1.09. The firm’s 50-day moving average is $109.14 and its two-hundred day moving average is $109.76. 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 issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.18. The company had revenue of $86.56 billion for the quarter, compared to analyst estimates 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 prior year, the firm earned $2.07 earnings per share. Analysts predict that Exxon Mobil Co. will post 9.59 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were paid a dividend of $0.91 per share. 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 (DPR) 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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