Princeton Global Asset Management LLC Decreases Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 9th, 2023

Princeton Global Asset Management LLC decreased its holdings in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 1.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,914 shares of the oil and gas company’s stock after selling 199 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Exxon Mobil were worth $1,745,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. Dark Forest Capital Management LP purchased a new stake in Exxon Mobil in the fourth quarter valued at approximately $27,000. Corrado Advisors LLC purchased a new stake in Exxon Mobil in the fourth quarter valued at approximately $28,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in Exxon Mobil in the fourth quarter valued at approximately $36,000. Align Wealth Management LLC purchased a new stake in shares of Exxon Mobil during the fourth quarter worth approximately $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 worth $40,000 after purchasing an additional 338 shares during the last quarter. Hedge funds and other 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 stock in a transaction on Monday, May 1st. The stock was 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on XOM. Morgan Stanley upped their price target on Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. Piper Sandler cut their price target on Exxon Mobil from $145.00 to $127.00 in a research note on Tuesday, June 13th. HSBC upped their price target on Exxon Mobil from $113.50 to $115.50 and gave the stock a “hold” rating in a research note on Thursday, April 20th. Mizuho cut their price target on Exxon Mobil from $147.00 to $130.00 in a research note on Friday, May 19th. Finally, Royal Bank of Canada cut Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 price target for the company. in a research note on Thursday, June 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $124.70.

Exxon Mobil Stock Up 0.2 %

Exxon Mobil stock opened at $103.16 on Friday. 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 firm has a market capitalization of $417.07 billion, a price-to-earnings ratio of 6.98, a price-to-earnings-growth ratio of 0.61 and a beta of 1.08. Exxon Mobil Co. has a fifty-two week low of $80.69 and a fifty-two week high of $119.92. The stock’s fifty day moving average is $105.95 and its two-hundred day moving average is $109.65.

Exxon Mobil (NYSE:XOM – Free Report) last posted its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.18. The business had revenue of $86.56 billion for the quarter, compared to analyst estimates of $90.07 billion. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 earnings per share. Analysts predict that Exxon Mobil Co. will post 9.53 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed 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 dividend yield of 3.53%. The ex-dividend date was Monday, May 15th. Exxon Mobil’s payout ratio is currently 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.