Sanders Morris Harris LLC Lowers Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by on Jun 21st, 2023

Sanders Morris Harris LLC trimmed its holdings in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 43,927 shares of the oil and gas company’s stock after selling 1,152 shares during the quarter. Exxon Mobil accounts for approximately 1.7% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 11th biggest holding. Sanders Morris Harris LLC’s holdings in Exxon Mobil were worth $4,817,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its position in shares of Exxon Mobil by 140,855.3% in 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 acquiring an additional 123,254,064 shares during the period. Norges Bank acquired a new position in shares of Exxon Mobil in the fourth quarter worth about $5,226,390,000. Price T Rowe Associates Inc. MD raised its position in shares of 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 shares of 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 shares of 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. 58.59% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $102.77 on Wednesday. The firm has a 50 day simple moving average of $108.88 and a 200-day simple moving average of $109.71. Exxon Mobil Co. has a 1-year low of $80.69 and a 1-year high of $119.92. 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 stock has a market cap of $415.50 billion, a price-to-earnings ratio of 6.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.09.

Exxon Mobil (NYSE:XOM – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share 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 business 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 posted $2.07 EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, analysts expect that Exxon Mobil Co. will post 9.59 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 16th were given a dividend of $0.91 per share. The ex-dividend date was Monday, May 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.54%. Exxon Mobil’s payout ratio is currently 24.64%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on XOM. Morgan Stanley upped their price objective on shares of Exxon Mobil from $118.00 to $122.00 in a research report on Tuesday, May 2nd. Mizuho reduced their price target on shares of Exxon Mobil from $147.00 to $130.00 in a research report on Friday, May 19th. Scotiabank downgraded shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $140.00 to $135.00 in a research report on Thursday, April 13th. Jefferies Financial Group reduced their price target on shares of Exxon Mobil from $148.00 to $140.00 in a research report on Monday, May 15th. Finally, HSBC upped their price target on shares of Exxon Mobil from $113.50 to $115.50 and gave the stock a “hold” rating in a research report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus price target of $124.70.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were 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 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently 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.

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

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