OLD National Bancorp IN Sells 18,147 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 5th, 2023

OLD National Bancorp IN decreased its stake in Exxon Mobil Co. (NYSE:XOM – Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,665 shares of the oil and gas company’s stock after selling 18,147 shares during the period. Exxon Mobil comprises about 0.7% of OLD National Bancorp IN’s holdings, making the stock its 27th largest holding. OLD National Bancorp IN’s holdings in Exxon Mobil were worth $23,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. 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. raised its stake 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 last quarter. Institutional investors own 58.59% of the company’s stock.

Exxon Mobil Stock Up 0.2 %

Shares of NYSE XOM opened at $107.46 on Wednesday. The stock has a market capitalization of $434.46 billion, a P/E ratio of 7.28, a P/E/G ratio of 0.64 and a beta of 1.08. The company has a 50-day moving average price of $106.71 and a 200-day moving average price of $109.71. Exxon Mobil Co. has a 1 year low of $80.69 and a 1 year high of $119.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.46 and a quick ratio of 1.10.

Exxon Mobil (NYSE:XOM – Free Report) last issued its quarterly earnings data 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 firm 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 revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $2.07 earnings per share. On average, equities research analysts forecast that Exxon Mobil Co. will post 9.46 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders 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 dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, May 15th. Exxon Mobil’s dividend payout ratio is currently 24.64%.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,500 shares of the firm’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 transaction, the vice president now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on XOM shares. Truist Financial raised their price target on shares of Exxon Mobil from $116.00 to $118.00 in a research note on Monday, May 1st. Scotiabank downgraded shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $140.00 to $135.00 in a research note on Thursday, April 13th. StockNews.com initiated coverage on shares of Exxon Mobil in a research note on Thursday, May 18th. They set a “hold” rating for the company. Jefferies Financial Group lowered their target price on shares of Exxon Mobil from $148.00 to $140.00 in a research note on Monday, May 15th. Finally, The Goldman Sachs Group downgraded shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 target price for the company. in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $124.70.

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.