Chemistry Wealth Management LLC Decreases Position in Exxon Mobil Co. (NYSE:XOM)

Posted by on Jun 22nd, 2023

Chemistry Wealth Management LLC decreased its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,100 shares of the oil and gas company’s stock after selling 296 shares during the period. Exxon Mobil accounts for 1.8% of Chemistry Wealth Management LLC’s portfolio, making the stock its 9th largest position. Chemistry Wealth Management LLC’s holdings in Exxon Mobil were worth $5,055,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in XOM. Dark Forest Capital Management LP acquired a new stake in Exxon Mobil during the 4th quarter worth $27,000. Corrado Advisors LLC acquired a new stake in Exxon Mobil during the 4th quarter worth $28,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in Exxon Mobil during the 4th quarter worth $36,000. Align Wealth Management LLC acquired a new stake in Exxon Mobil during the 4th quarter worth $38,000. Finally, Financial Connections Group Inc. grew its holdings in Exxon Mobil by 1,207.1% during the 4th quarter. Financial Connections Group Inc. now owns 366 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 338 shares during the period. Institutional investors own 58.59% of the company’s stock.

Exxon Mobil Stock Up 1.1 %

Exxon Mobil stock opened at $103.87 on Thursday. The company has a market cap of $419.95 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 0.61 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. The company has a fifty day simple moving average of $108.66 and a 200 day simple moving average of $109.67. 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 (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, topping the consensus estimate of $2.65 by $0.18. The firm had revenue of $86.56 billion for the quarter, compared to analyst estimates of $90.07 billion. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 EPS. Research analysts anticipate that Exxon Mobil Co. will post 9.59 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Monday, May 15th. Exxon Mobil’s dividend payout ratio (DPR) is 24.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on XOM shares. The Goldman Sachs Group cut Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price target for the company. in a research note on Monday, May 1st. Piper Sandler lowered their price target on Exxon Mobil from $145.00 to $127.00 in a research note on Tuesday, June 13th. Wells Fargo & Company upped their price target on Exxon Mobil from $125.00 to $133.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. StockNews.com assumed coverage on Exxon Mobil in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Mizuho dropped their price objective on 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 assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus target price of $124.70.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $116.11, for a total value of $290,275.00. Following the sale, the vice president now directly owns 29,272 shares of the company’s stock, valued at approximately $3,398,771.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Exxon Mobil Company 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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