Cherrydale Wealth Management LLC Sells 247 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jun 28th, 2023

Cherrydale Wealth Management LLC cut its stake in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 8.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,580 shares of the oil and gas company’s stock after selling 247 shares during the period. Exxon Mobil comprises about 0.2% of Cherrydale Wealth Management LLC’s investment portfolio, making the stock its 29th largest position. Cherrydale Wealth Management LLC’s holdings in Exxon Mobil were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC grew its holdings in Exxon Mobil by 140,855.3% during the 4th 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 in the last quarter. Norges Bank bought a new position in Exxon Mobil during the 4th quarter worth about $5,226,390,000. Price T Rowe Associates Inc. MD grew its holdings in Exxon Mobil by 94.1% during the 3rd 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 in the last quarter. Morgan Stanley grew its holdings in Exxon Mobil by 11.9% during the 4th 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 in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Exxon Mobil by 272.4% during the 4th 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 in the last quarter. 58.59% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $104.55 on Wednesday. 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 Co. has a 12 month low of $80.69 and a 12 month high of $119.92. The company has a 50 day simple moving average of $107.68 and a two-hundred day simple moving average of $109.68. The stock has a market cap of $422.69 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 0.60 and a beta of 1.09.

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. 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 previous year, the business posted $2.07 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, analysts predict that Exxon Mobil Co. will post 9.59 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Monday, May 15th. Exxon Mobil’s payout ratio is 24.64%.

Insider Buying and Selling at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction on 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 transaction, the vice president now directly owns 29,272 shares in the company, valued at approximately $3,398,771.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Exxon Mobil in a report on Thursday, May 18th. They set a “hold” rating on the stock. Mizuho lowered their price target on shares of Exxon Mobil from $147.00 to $130.00 in a report on Friday, May 19th. Scotiabank cut shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $140.00 to $135.00 in a report on Thursday, April 13th. The Goldman Sachs Group cut shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price target on the stock. in a report on Monday, May 1st. Finally, Truist Financial raised their price target on shares of Exxon Mobil from $116.00 to $118.00 in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $124.70.

Exxon Mobil Profile

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Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.