Davidson Trust Co. Grows Stock Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 13th, 2023

Davidson Trust Co. increased its position in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 1.2% during the 1st quarter, Holdings Channel reports. The firm owned 30,719 shares of the oil and gas company’s stock after acquiring an additional 365 shares during the period. Exxon Mobil comprises 2.6% of Davidson Trust Co.’s investment portfolio, making the stock its 6th biggest position. Davidson Trust Co.’s holdings in Exxon Mobil were worth $3,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of XOM. Axiom Financial Strategies LLC increased its holdings in Exxon Mobil by 17.4% in 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 acquiring an additional 1,173 shares during the last quarter. Retirement Income Solutions Inc bought a new stake in Exxon Mobil in the 1st quarter valued at $275,000. Loomis Sayles & Co. L P increased its holdings in Exxon Mobil by 318.8% in the 1st quarter. Loomis Sayles & Co. L P now owns 17,163 shares of the oil and gas company’s stock valued at $1,417,000 after acquiring an additional 13,065 shares during the last quarter. Ergoteles LLC increased its holdings in Exxon Mobil by 95.6% in the 1st quarter. Ergoteles LLC now owns 15,843 shares of the oil and gas company’s stock valued at $1,308,000 after acquiring an additional 7,744 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new stake in Exxon Mobil in the 1st quarter valued at $237,000. 58.59% of the stock is currently owned by institutional investors.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $106.49 on Thursday. The stock has a market cap of $430.54 billion, a price-to-earnings ratio of 7.21, a price-to-earnings-growth ratio of 0.56 and a beta of 1.08. 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 Co. has a 1 year low of $80.69 and a 1 year high of $119.92. The firm has a 50-day moving average of $105.64 and a two-hundred day moving average of $109.61.

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

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Tuesday, May 16th were issued a $0.91 dividend. The ex-dividend date was Monday, May 15th. This represents a $3.64 annualized dividend and a dividend yield of 3.42%. Exxon Mobil’s dividend payout ratio is currently 24.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on XOM. Scotiabank cut shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $140.00 to $135.00 in a research note on Thursday, April 13th. The Goldman Sachs Group cut shares of 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. Piper Sandler dropped their price objective on shares of Exxon Mobil from $145.00 to $127.00 in a research note on Tuesday, June 13th. HSBC lifted their price objective 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. Finally, Wolfe Research cut shares of Exxon Mobil from an “outperform” rating to a “peer perform” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $124.70.

Insider Activity

In other news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were 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 in the company, valued at approximately $3,398,771.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

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.