Royal Fund Management LLC Increases Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jun 22nd, 2023

Royal Fund Management LLC grew its holdings in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,177 shares of the oil and gas company’s stock after acquiring an additional 338 shares during the period. Royal Fund Management LLC’s holdings in Exxon Mobil were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of XOM. Dark Forest Capital Management LP acquired a new position in shares of Exxon Mobil in the fourth quarter worth $27,000. Corrado Advisors LLC acquired a new position in shares of Exxon Mobil in the fourth quarter worth $28,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Exxon Mobil in the fourth quarter worth $36,000. Align Wealth Management LLC acquired a new position in shares of Exxon Mobil in the fourth quarter worth $38,000. Finally, Financial Connections Group Inc. grew its stake in shares of Exxon Mobil by 1,207.1% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 58.59% of the company’s stock.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $103.87 on Thursday. The company has a 50-day simple moving average of $108.66 and a 200-day simple moving average of $109.67. Exxon Mobil Co. has a one year low of $80.69 and a one year high of $119.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.10 and a current ratio of 1.46. The stock has a market capitalization of $419.95 billion, a price-to-earnings ratio of 7.03, a PEG ratio of 0.61 and a beta of 1.09.

Exxon Mobil (NYSE:XOM – Get Rating) last announced its earnings results on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $2.07 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, analysts predict that Exxon Mobil Co. will post 9.59 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 16th were given a $0.91 dividend. 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 3.50%. Exxon Mobil’s payout ratio is currently 24.64%.

Analysts Set New Price Targets

XOM has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. Scotiabank downgraded shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $140.00 to $135.00 in a research note on Thursday, April 13th. StockNews.com began coverage on shares of Exxon Mobil in a research note on Thursday, May 18th. They set a “hold” rating for the company. Mizuho lowered their target price on shares of Exxon Mobil from $147.00 to $130.00 in a research note on Friday, May 19th. Finally, Jefferies Financial Group lowered their target price on shares of Exxon Mobil from $148.00 to $140.00 in a research note on Monday, May 15th. One investment 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’s stock. Based on data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $124.70.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,500 shares of the firm’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 completion of the sale, the vice president now owns 29,272 shares in the company, valued at $3,398,771.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.04% of the stock is owned by insiders.

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.