Alpha Cubed Investments LLC Cuts Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 19th, 2023

Alpha Cubed Investments LLC trimmed its position in Exxon Mobil Co. (NYSE:XOM – Free Report) by 24.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,057 shares of the oil and gas company’s stock after selling 11,056 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Exxon Mobil were worth $3,844,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of XOM. Murphy Middleton Hinkle & Parker Inc. boosted its position in Exxon Mobil by 0.8% during the 1st quarter. Murphy Middleton Hinkle & Parker Inc. now owns 11,282 shares of the oil and gas company’s stock valued at $1,237,000 after purchasing an additional 87 shares during the period. Bank of The West boosted its position in Exxon Mobil by 0.8% during the 4th quarter. Bank of The West now owns 10,726 shares of the oil and gas company’s stock valued at $1,183,000 after purchasing an additional 89 shares during the period. Motive Wealth Advisors boosted its position in Exxon Mobil by 2.1% during the 4th quarter. Motive Wealth Advisors now owns 4,277 shares of the oil and gas company’s stock valued at $472,000 after purchasing an additional 90 shares during the period. Smart Money Group LLC boosted its position in Exxon Mobil by 3.8% during the 4th quarter. Smart Money Group LLC now owns 2,468 shares of the oil and gas company’s stock valued at $272,000 after purchasing an additional 91 shares during the period. Finally, Acorn Wealth Advisors LLC boosted its position in Exxon Mobil by 3.8% during the 4th quarter. Acorn Wealth Advisors LLC now owns 2,483 shares of the oil and gas company’s stock valued at $274,000 after purchasing an additional 91 shares during the period. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Darrin L. Talley sold 2,500 shares of Exxon Mobil 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 transaction, the vice president now owns 29,272 shares in the company, valued at $3,398,771.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Exxon Mobil Stock Performance

Shares of NYSE XOM opened at $100.87 on Wednesday. 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 stock has a market capitalization of $407.82 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.55 and a beta of 1.08. The stock’s fifty day simple moving average is $105.14 and its 200 day simple moving average is $109.41. Exxon Mobil Co. has a 52-week low of $83.89 and a 52-week high of $119.92.

Exxon Mobil (NYSE:XOM – Get Free Report) last issued its earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.18. The business had revenue of $86.56 billion for 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%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.07 EPS. As a group, sell-side analysts forecast that Exxon Mobil Co. will post 9.45 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 16th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, May 15th. Exxon Mobil’s payout ratio is 24.64%.

Analysts Set New Price Targets

Several brokerages have weighed in on XOM. HSBC lifted their target price on Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research note on Thursday, April 20th. The Goldman Sachs Group downgraded Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 target price on the stock. in a research note on Monday, May 1st. Royal Bank of Canada downgraded Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 target price on the stock. in a research note on Thursday, June 1st. Jefferies Financial Group cut their target price on Exxon Mobil from $148.00 to $140.00 in a research note on Monday, May 15th. Finally, Morgan Stanley cut their target price on Exxon Mobil from $122.00 to $121.00 and set an “overweight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $124.66.

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.