Lederer & Associates Investment Counsel CA Makes New Investment in Exxon Mobil Co. (NYSE:XOM)

Posted by on Jul 1st, 2023

Lederer & Associates Investment Counsel CA purchased a new position in Exxon Mobil Co. (NYSE:XOM – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,892 shares of the oil and gas company’s stock, valued at approximately $1,633,000. Exxon Mobil comprises about 1.3% of Lederer & Associates Investment Counsel CA’s portfolio, making the stock its 29th largest position.

A number of other large investors have also added to or reduced their stakes in XOM. Murphy Middleton Hinkle & Parker Inc. raised its holdings in shares of Exxon Mobil by 0.8% during the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 11,282 shares of the oil and gas company’s stock valued at $1,237,000 after purchasing an additional 87 shares during the last quarter. Bank of The West raised its holdings in shares of Exxon Mobil by 0.8% during the fourth quarter. Bank of The West now owns 10,726 shares of the oil and gas company’s stock valued at $1,183,000 after purchasing an additional 89 shares during the last quarter. Motive Wealth Advisors raised its holdings in shares of Exxon Mobil by 2.1% during the fourth quarter. Motive Wealth Advisors now owns 4,277 shares of the oil and gas company’s stock valued at $472,000 after purchasing an additional 90 shares during the last quarter. Smart Money Group LLC grew its position in Exxon Mobil by 3.8% during the fourth quarter. Smart Money Group LLC now owns 2,468 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 91 shares during the period. Finally, Acorn Wealth Advisors LLC grew its position in Exxon Mobil by 3.8% during the fourth quarter. Acorn Wealth Advisors LLC now owns 2,483 shares of the oil and gas company’s stock valued at $274,000 after buying an additional 91 shares during the period. Institutional investors own 58.59% of the company’s stock.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,500 shares of the company’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 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 is available through the SEC website. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on XOM. Jefferies Financial Group cut their target price on shares of Exxon Mobil from $148.00 to $140.00 in a research report on Monday, May 15th. HSBC boosted their target price on shares of Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research report on Thursday, April 20th. StockNews.com began coverage on shares of Exxon Mobil in a research report on Thursday, May 18th. They set a “hold” rating for the company. Royal Bank of Canada lowered shares of Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 target price for the company. in a research report on Thursday, June 1st. Finally, Truist Financial upped their price target on shares of Exxon Mobil from $116.00 to $118.00 in a research 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.70.

Exxon Mobil Price Performance

XOM stock opened at $107.27 on Friday. Exxon Mobil Co. has a one year low of $80.69 and a one year high of $119.92. The company’s fifty day moving average price is $107.10 and its 200-day moving average price is $109.64. 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 company has a market capitalization of $433.69 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 0.62 and a beta of 1.09.

Exxon Mobil (NYSE:XOM – Free Report) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.18. The company 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%. Exxon Mobil’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. On average, equities analysts anticipate that Exxon Mobil Co. will post 9.59 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 16th were paid a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, May 15th. Exxon Mobil’s payout ratio is 24.64%.

Exxon Mobil Company Profile

(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.

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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