Strong Tower Advisory Services Has $4.88 Million Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jun 29th, 2023

Strong Tower Advisory Services lowered its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,459 shares of the oil and gas company’s stock after selling 1,913 shares during the period. Exxon Mobil comprises 2.6% of Strong Tower Advisory Services’ portfolio, making the stock its 11th largest holding. Strong Tower Advisory Services’ holdings in Exxon Mobil were worth $4,875,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of XOM. Dark Forest Capital Management LP bought a new position in shares of Exxon Mobil during the fourth quarter valued at $27,000. Corrado Advisors LLC bought a new position in shares of Exxon Mobil during the fourth quarter valued at $28,000. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Exxon Mobil during the fourth quarter valued at $36,000. Align Wealth Management LLC bought a new position in shares of Exxon Mobil during the fourth quarter valued at $38,000. Finally, Financial Connections Group Inc. lifted its holdings 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 period. Institutional investors and hedge funds own 58.59% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on XOM shares. Jefferies Financial Group cut their price objective on Exxon Mobil from $148.00 to $140.00 in a report on Monday, May 15th. Morgan Stanley lifted their price target on Exxon Mobil from $118.00 to $122.00 in a report on Tuesday, May 2nd. Scotiabank cut Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $140.00 to $135.00 in a report on Thursday, April 13th. UBS Group raised Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their price target for the company from $125.00 to $144.00 in a report on Tuesday, April 18th. Finally, Piper Sandler cut their price target on Exxon Mobil from $145.00 to $127.00 in a report on Tuesday, June 13th. One investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $124.70.

Exxon Mobil Price Performance

Shares of XOM opened at $105.41 on Thursday. The stock has a market capitalization of $426.17 billion, a P/E ratio of 7.14, a P/E/G ratio of 0.61 and a beta of 1.09. Exxon Mobil Co. has a twelve month low of $80.69 and a twelve month high of $119.92. The company has a 50 day moving average of $107.45 and a 200-day moving average of $109.65. 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 (NYSE:XOM – Free Report) last issued 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 company had revenue of $86.56 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned $2.07 EPS. As a group, equities research analysts forecast that Exxon Mobil Co. will post 9.59 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Tuesday, May 16th were paid 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 3.45%. Exxon Mobil’s dividend payout ratio is currently 24.64%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,500 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was 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 of the company’s stock, valued at approximately $3,398,771.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.04% of the stock is currently owned by insiders.

About Exxon Mobil

(Free Report)

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.