Lafayette Investments Inc. Trims Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 8th, 2023

Lafayette Investments Inc. lowered its holdings in Exxon Mobil Co. (NYSE:XOM – Free Report) by 2.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,228 shares of the oil and gas company’s stock after selling 878 shares during the period. Exxon Mobil comprises 1.1% of Lafayette Investments Inc.’s portfolio, making the stock its 29th largest position. Lafayette Investments Inc.’s holdings in Exxon Mobil were worth $3,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of XOM. Cookson Peirce & Co. Inc. lifted its holdings 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 worth $1,140,000 after buying an additional 1,469 shares during the last quarter. St. Louis Trust Co lifted its holdings in Exxon Mobil by 11.0% during the 4th quarter. St. Louis Trust Co now owns 35,533 shares of the oil and gas company’s stock worth $3,919,000 after buying an additional 3,507 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Exxon Mobil by 5.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 117,524 shares of the oil and gas company’s stock worth $12,963,000 after buying an additional 5,770 shares during the last quarter. TIAA FSB lifted its holdings in shares of Exxon Mobil by 8.2% in the 1st quarter. TIAA FSB now owns 509,184 shares of the oil and gas company’s stock worth $55,837,000 after purchasing an additional 38,760 shares during the last quarter. Finally, Northstar Asset Management LLC lifted its holdings in shares of Exxon Mobil by 3.0% in the 4th 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on XOM. The Goldman Sachs Group downgraded Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price target on the stock. in a report on Monday, May 1st. Mizuho cut their price target on Exxon Mobil from $147.00 to $130.00 in a report on Friday, May 19th. Wolfe Research downgraded Exxon Mobil from an “outperform” rating to a “peer perform” rating in a report on Friday. They noted that the move was a valuation call. Piper Sandler lowered their target price on Exxon Mobil from $145.00 to $127.00 in a research report on Tuesday, June 13th. Finally, Scotiabank cut Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $140.00 to $135.00 in a research report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Exxon Mobil has a consensus rating of “Hold” and a consensus target price of $124.70.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,500 shares of the firm’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 completion of the sale, the vice president now owns 29,272 shares of the company’s stock, valued at $3,398,771.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by insiders.

Exxon Mobil Stock Performance

XOM opened at $103.23 on Friday. The firm has a market cap of $417.36 billion, a PE ratio of 6.99, a P/E/G ratio of 0.63 and a beta of 1.08. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $105.95 and a 200-day simple moving average of $109.63. Exxon Mobil Co. has a fifty-two week low of $80.69 and a fifty-two week high of $119.92.

Exxon Mobil (NYSE:XOM – Free Report) last issued its earnings results on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, topping the consensus estimate of $2.65 by $0.18. The business had revenue of $86.56 billion during the quarter, compared to analysts’ expectations of $90.07 billion. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. Exxon Mobil’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.07 earnings per share. As a group, equities analysts predict that Exxon Mobil Co. will post 9.46 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders 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 annualized dividend and a dividend yield of 3.53%. Exxon Mobil’s dividend payout ratio (DPR) is presently 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.