Armstrong Advisory Group Inc. Sells 1,432 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by on Jun 21st, 2023

Armstrong Advisory Group Inc. reduced its position in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 6.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,458 shares of the oil and gas company’s stock after selling 1,432 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Exxon Mobil were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new stake in Exxon Mobil during the 4th quarter worth about $27,000. Corrado Advisors LLC bought a new stake in shares of Exxon Mobil in the 4th quarter valued at about $28,000. My Personal CFO LLC increased its stake in shares of Exxon Mobil by 15,000.0% in the 4th quarter. My Personal CFO LLC now owns 302 shares of the oil and gas company’s stock valued at $262,000 after acquiring an additional 300 shares during the last quarter. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Exxon Mobil in the 4th quarter valued at about $36,000. Finally, Financial Connections Group Inc. increased its stake in shares of Exxon Mobil by 1,207.1% in the 4th quarter. Financial Connections Group Inc. now owns 366 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 338 shares during the last quarter. 58.59% of the stock is owned by institutional investors.

Exxon Mobil Trading Down 2.2 %

NYSE XOM opened at $102.77 on Wednesday. The company has a market cap of $415.50 billion, a PE ratio of 6.96, a PEG ratio of 0.61 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. Exxon Mobil Co. has a 12 month low of $80.69 and a 12 month high of $119.92. The stock has a 50 day moving average of $108.88 and a 200-day moving average of $109.71.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings results 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 return on equity of 31.48% and a net margin of 15.06%. The business had revenue of $86.56 billion during the quarter, compared to the consensus estimate of $90.07 billion. During the same quarter last year, the firm posted $2.07 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Exxon Mobil Co. will post 9.59 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Monday, May 15th. Exxon Mobil’s dividend payout ratio is 24.64%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on XOM shares. HSBC upped their price target on Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research note on Thursday, April 20th. UBS Group raised Exxon Mobil from a “neutral” rating to a “buy” rating and increased their target price for the stock from $125.00 to $144.00 in a research note on Tuesday, April 18th. Piper Sandler lowered their target price on Exxon Mobil from $145.00 to $127.00 in a research note on Tuesday, June 13th. Royal Bank of Canada cut Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 target price for the company. in a research note on Thursday, June 1st. Finally, Truist Financial increased their target price on Exxon Mobil from $116.00 to $118.00 in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.70.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction 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 transaction, the vice president now 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 can be accessed through this link. Company insiders own 0.04% of the company’s stock.

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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