Providence First Trust Co Decreases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 6th, 2023

Providence First Trust Co decreased its holdings in Exxon Mobil Co. (NYSE:XOM – Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,496 shares of the oil and gas company’s stock after selling 135 shares during the period. Providence First Trust Co’s holdings in Exxon Mobil were worth $1,041,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cookson Peirce & Co. Inc. raised its stake in Exxon Mobil by 16.6% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 10,333 shares of the oil and gas company’s stock valued at $1,140,000 after buying an additional 1,469 shares during the last quarter. St. Louis Trust Co grew its holdings in shares of Exxon Mobil by 11.0% in the fourth quarter. St. Louis Trust Co now owns 35,533 shares of the oil and gas company’s stock worth $3,919,000 after acquiring an additional 3,507 shares during the period. Kestra Private Wealth Services LLC increased its position in Exxon Mobil by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 117,524 shares of the oil and gas company’s stock valued at $12,963,000 after acquiring an additional 5,770 shares during the last quarter. TIAA FSB lifted its holdings in Exxon Mobil by 8.2% in the first quarter. TIAA FSB now owns 509,184 shares of the oil and gas company’s stock valued at $55,837,000 after acquiring an additional 38,760 shares during the period. Finally, Northstar Asset Management LLC boosted its position in Exxon Mobil by 3.0% in the fourth quarter. Northstar Asset Management LLC now owns 32,262 shares of the oil and gas company’s stock worth $3,558,000 after purchasing an additional 925 shares during the last quarter. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on XOM. Jefferies Financial Group lowered their price objective on shares of Exxon Mobil from $148.00 to $140.00 in a research note on Monday, May 15th. HSBC lifted their price target on shares of Exxon Mobil from $113.50 to $115.50 and gave the stock a “hold” rating in a research note on Thursday, April 20th. The Goldman Sachs Group lowered Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price objective for the company. in a research note on Monday, May 1st. UBS Group raised Exxon Mobil from a “neutral” rating to a “buy” rating and boosted their price target for the company from $125.00 to $144.00 in a report on Tuesday, April 18th. Finally, Morgan Stanley raised their price objective on Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.70.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the company’s 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 transaction, the vice president now owns 29,272 shares of the company’s stock, valued at approximately $3,398,771.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Exxon Mobil Stock Down 0.5 %

Shares of XOM opened at $106.91 on Thursday. The business’s 50 day simple moving average is $106.53 and its 200-day simple moving average is $109.69. 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. The stock has a market capitalization of $432.24 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08.

Exxon Mobil (NYSE:XOM – Free Report) last announced its earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.18. The firm had revenue of $86.56 billion for 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% compared to the same quarter last year. During the same period in the prior year, the company earned $2.07 EPS. As a group, equities analysts expect that Exxon Mobil Co. will post 9.46 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company 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. The ex-dividend date of this dividend was Monday, May 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.40%. Exxon Mobil’s dividend payout ratio is presently 24.64%.

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.