Garrett Wealth Advisory Group LLC Reduces Stock Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 2nd, 2023

Garrett Wealth Advisory Group LLC lessened its position in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 13.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,401 shares of the oil and gas company’s stock after selling 2,677 shares during the quarter. Exxon Mobil accounts for 0.9% of Garrett Wealth Advisory Group LLC’s portfolio, making the stock its 18th largest position. Garrett Wealth Advisory Group LLC’s holdings in Exxon Mobil were worth $1,908,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in XOM. Axiom Financial Strategies LLC grew its stake in Exxon Mobil by 17.4% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,909 shares of the oil and gas company’s stock valued at $680,000 after purchasing an additional 1,173 shares during the last quarter. Retirement Income Solutions Inc purchased a new stake in shares of Exxon Mobil in the first quarter worth about $275,000. Loomis Sayles & Co. L P boosted its stake in shares of Exxon Mobil by 318.8% in the first quarter. Loomis Sayles & Co. L P now owns 17,163 shares of the oil and gas company’s stock worth $1,417,000 after buying an additional 13,065 shares during the last quarter. Ergoteles LLC boosted its stake in shares of Exxon Mobil by 95.6% in the first quarter. Ergoteles LLC now owns 15,843 shares of the oil and gas company’s stock worth $1,308,000 after buying an additional 7,744 shares during the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in shares of Exxon Mobil in the first quarter worth about $237,000. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil stock in a transaction 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 sale, the vice president now owns 29,272 shares in the company, valued at $3,398,771.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $107.25 on Friday. Exxon Mobil Co. has a one year low of $80.69 and a one year high of $119.92. The company has a market cap of $433.61 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 0.62 and a beta of 1.09. 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 business’s 50 day moving average price is $107.10 and its 200 day moving average price is $109.65.

Exxon Mobil (NYSE:XOM – Free Report) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.18. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The firm had revenue of $86.56 billion for the quarter, compared to the consensus estimate of $90.07 billion. During the same quarter last year, the business posted $2.07 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, research analysts predict that Exxon Mobil Co. will post 9.59 EPS for the current year.

Exxon Mobil Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. The Goldman Sachs Group downgraded Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 target price on the stock. in a research note on Monday, May 1st. Mizuho lowered their target price on Exxon Mobil from $147.00 to $130.00 in a research note on Friday, May 19th. Scotiabank downgraded Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $140.00 to $135.00 in a research report on Thursday, April 13th. UBS Group upgraded 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 report on Tuesday, April 18th. Finally, Royal Bank of Canada downgraded Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 price target on the stock. in a research report on Thursday, June 1st. One equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $124.70.

Exxon Mobil 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.