Matthew Goff Investment Advisor LLC Decreases Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jun 28th, 2023

Matthew Goff Investment Advisor LLC trimmed its position in Exxon Mobil Co. (NYSE:XOM – Get Rating) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,935 shares of the oil and gas company’s stock after selling 566 shares during the quarter. Matthew Goff Investment Advisor LLC’s holdings in Exxon Mobil were worth $2,625,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of XOM. Dark Forest Capital Management LP acquired a new stake in shares of Exxon Mobil in the 4th quarter valued at $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. raised its stake 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 in the last quarter. 58.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,398,771.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on XOM shares. Royal Bank of Canada lowered shares of Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 price target on the stock. in a research note on Thursday, June 1st. Morgan Stanley lifted their price target on shares of Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. StockNews.com started coverage on shares of Exxon Mobil in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Truist Financial lifted their price target on shares of Exxon Mobil from $116.00 to $118.00 in a research note on Monday, May 1st. Finally, The Goldman Sachs Group lowered shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research note 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.70.

Exxon Mobil Stock Up 0.2 %

Shares of NYSE:XOM opened at $104.55 on Wednesday. The company 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. The firm’s 50-day simple moving average is $107.68 and its 200-day simple moving average is $109.68. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.19. Exxon Mobil Co. has a fifty-two week low of $80.69 and a fifty-two week high of $119.92.

Exxon Mobil (NYSE:XOM – Get Rating) last issued its earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.18. The business 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 business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 earnings per share. As a group, equities research analysts predict that Exxon Mobil Co. will post 9.59 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors 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 yield of 3.48%. The ex-dividend date was Monday, May 15th. Exxon Mobil’s dividend payout ratio is currently 24.64%.

About Exxon Mobil

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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.