Thrive Wealth Management LLC Increases Position in Exxon Mobil Co. (NYSE:XOM)

Posted by on Jun 21st, 2023

Thrive Wealth Management LLC increased its stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 5.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,492 shares of the oil and gas company’s stock after acquiring an additional 690 shares during the period. Thrive Wealth Management LLC’s holdings in Exxon Mobil were worth $1,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cypress Wealth Services LLC lifted its stake in Exxon Mobil by 12.9% in the first quarter. Cypress Wealth Services LLC now owns 14,243 shares of the oil and gas company’s stock worth $1,562,000 after purchasing an additional 1,623 shares during the last quarter. Trust Co. of Vermont lifted its stake in Exxon Mobil by 3.4% in the first quarter. Trust Co. of Vermont now owns 92,346 shares of the oil and gas company’s stock worth $10,127,000 after purchasing an additional 3,069 shares during the last quarter. BTC Capital Management Inc. lifted its stake in Exxon Mobil by 38.6% in the first quarter. BTC Capital Management Inc. now owns 50,848 shares of the oil and gas company’s stock worth $5,488,000 after purchasing an additional 14,153 shares during the last quarter. Aurora Private Wealth Inc. lifted its stake in Exxon Mobil by 1.1% in the first quarter. Aurora Private Wealth Inc. now owns 13,955 shares of the oil and gas company’s stock worth $1,530,000 after purchasing an additional 148 shares during the last quarter. Finally, Patten Group Inc. lifted its stake in Exxon Mobil by 2.8% in the first quarter. Patten Group Inc. now owns 31,491 shares of the oil and gas company’s stock worth $3,453,000 after purchasing an additional 858 shares during the last quarter. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on XOM. Royal Bank of Canada downgraded shares of Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 price target for the company. in a research note on Thursday, June 1st. Truist Financial boosted their price target on shares of Exxon Mobil from $116.00 to $118.00 in a research note on Monday, May 1st. Jefferies Financial Group lowered their price objective on shares of Exxon Mobil from $148.00 to $140.00 in a research note on Monday, May 15th. Piper Sandler lowered their price objective on shares of Exxon Mobil from $145.00 to $127.00 in a research note on Tuesday, June 13th. Finally, Mizuho lowered their price objective on shares of Exxon Mobil from $147.00 to $130.00 in a research note on Friday, May 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.70.

Insider Activity

In other 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 sale, the vice president now owns 29,272 shares in the company, valued at $3,398,771.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $102.77 on Wednesday. The stock has a market capitalization of $415.50 billion, a P/E ratio of 6.96, a P/E/G ratio of 0.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.46 and a quick ratio of 1.10. Exxon Mobil Co. has a 1 year low of $80.69 and a 1 year high of $119.92. The company’s 50-day moving average is $108.88 and its 200 day moving average is $109.71.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.18. The business had revenue of $86.56 billion for the quarter, compared to analysts’ expectations 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 was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.07 earnings per share. On average, sell-side analysts expect that Exxon Mobil Co. will post 9.59 earnings per share for the current year.

Exxon Mobil Announces Dividend

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