Legacy Private Trust Co. Increases Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jun 25th, 2023

Legacy Private Trust Co. raised its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Get Rating) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,890 shares of the oil and gas company’s stock after buying an additional 3,598 shares during the period. Legacy Private Trust Co.’s holdings in Exxon Mobil were worth $2,291,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dark Forest Capital Management LP bought a new position in shares of Exxon Mobil during the fourth quarter valued at about $27,000. Corrado Advisors LLC bought a new position in shares of Exxon Mobil during the fourth quarter valued at about $28,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Exxon Mobil during the fourth quarter valued at about $36,000. Align Wealth Management LLC bought a new position in shares of Exxon Mobil during the fourth quarter valued at about $38,000. Finally, Financial Connections Group Inc. raised its stake in shares of Exxon Mobil by 1,207.1% during the fourth 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 currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Down 0.9 %

XOM opened at $102.40 on Friday. The company has a market capitalization of $414.00 billion, a PE ratio of 6.93, a PEG 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 firm’s 50 day simple moving average is $108.13 and its two-hundred day simple moving average is $109.63. 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 announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.65 by $0.18. The firm had revenue of $86.56 billion for the quarter, compared to the consensus estimate of $90.07 billion. Exxon Mobil had a net margin of 15.06% and a return on equity of 31.48%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.07 EPS. As a group, equities analysts forecast that Exxon Mobil Co. will post 9.59 EPS for the current year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders 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 annualized dividend and a dividend yield of 3.55%. Exxon Mobil’s payout ratio is 24.64%.

Analyst Ratings Changes

XOM has been the subject of several recent analyst reports. The Goldman Sachs Group downgraded shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price objective for the company. in a research note on Monday, May 1st. 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. Wells Fargo & Company increased their price target on shares of Exxon Mobil from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Friday, March 3rd. UBS Group raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and increased their price target for the stock from $125.00 to $144.00 in a research note on Tuesday, April 18th. Finally, Morgan Stanley increased their price target on shares of Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.70.

Insider Activity

In other news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction 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 directly owns 29,272 shares in the company, valued at approximately $3,398,771.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Exxon Mobil Company Profile

(Get Rating)

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.