Madison Asset Management LLC Lowers Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 18th, 2023

Madison Asset Management LLC lessened its stake in Exxon Mobil Co. (NYSE:XOM – Free Report) by 3.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 64,137 shares of the oil and gas company’s stock after selling 2,238 shares during the quarter. Madison Asset Management LLC’s holdings in Exxon Mobil were worth $7,033,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC lifted its holdings in shares of Exxon Mobil by 140,855.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company’s stock worth $13,604,575,000 after buying an additional 123,254,064 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Exxon Mobil by 11.9% in the fourth quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock worth $5,788,398,000 after buying an additional 5,566,797 shares in the last quarter. Norges Bank purchased a new position in shares of Exxon Mobil in the fourth quarter worth $5,226,390,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Exxon Mobil by 3.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,011,875 shares of the oil and gas company’s stock worth $4,523,610,000 after buying an additional 1,344,934 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Exxon Mobil by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 31,180,397 shares of the oil and gas company’s stock valued at $2,575,190,000 after purchasing an additional 560,517 shares in the last quarter. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. Scotiabank downgraded shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $140.00 to $135.00 in a research note on Thursday, April 13th. UBS Group raised shares of Exxon Mobil from a “neutral” rating to a “buy” rating and upped their price target for the company from $125.00 to $144.00 in a research note on Tuesday, April 18th. The Goldman Sachs Group cut shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price objective on the stock. in a research report on Monday, May 1st. Finally, Piper Sandler cut their price objective on shares of Exxon Mobil from $145.00 to $127.00 in a research report on Tuesday, June 13th. One investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $124.70.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,500 shares of the company’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 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 SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

Exxon Mobil Trading Up 0.4 %

NYSE XOM opened at $101.38 on Tuesday. Exxon Mobil Co. has a 12 month low of $83.89 and a 12 month high of $119.92. The company’s 50-day moving average price is $105.31 and its 200-day moving average price is $109.47. The stock has a market cap of $409.88 billion, a PE ratio of 6.86, a PEG ratio of 0.55 and a beta of 1.08. The company has a current ratio of 1.46, a quick ratio of 1.10 and a debt-to-equity ratio of 0.19.

Exxon Mobil (NYSE:XOM – Get Free Report) last released its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.18. Exxon Mobil had a net margin of 15.06% and a return on equity of 31.48%. The company had revenue of $86.56 billion during the quarter, compared to analyst estimates of $90.07 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts forecast that Exxon Mobil Co. will post 9.45 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 16th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Monday, May 15th. 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.