Strs Ohio Sells 62,452 Shares of Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Jul 19th, 2023

Strs Ohio decreased its stake in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 2.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,373,993 shares of the oil and gas company’s stock after selling 62,452 shares during the period. Exxon Mobil accounts for about 1.3% of Strs Ohio’s holdings, making the stock its 8th largest position. Strs Ohio owned about 0.06% of Exxon Mobil worth $260,332,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Mastrapasqua Asset Management Inc. increased its position in Exxon Mobil by 3.5% in the 1st quarter. Mastrapasqua Asset Management Inc. now owns 14,338 shares of the oil and gas company’s stock worth $1,572,000 after buying an additional 479 shares during the period. Securian Asset Management Inc. increased its position in Exxon Mobil by 0.4% in the 1st quarter. Securian Asset Management Inc. now owns 349,576 shares of the oil and gas company’s stock worth $38,335,000 after buying an additional 1,421 shares during the period. Axim Planning & Wealth bought a new position in Exxon Mobil in the 1st quarter worth approximately $208,000. Fifth Third Wealth Advisors LLC bought a new position in Exxon Mobil in the 1st quarter worth approximately $653,000. Finally, DORCHESTER WEALTH MANAGEMENT Co bought a new position in Exxon Mobil in the 1st quarter worth approximately $866,000. Institutional investors and hedge funds own 58.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on XOM. UBS Group raised Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $144.00 in a research report on Tuesday, April 18th. Scotiabank cut Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $140.00 to $135.00 in a research report on Thursday, April 13th. HSBC boosted their price objective on Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research report on Thursday, April 20th. Morgan Stanley lowered their price objective on Exxon Mobil from $122.00 to $121.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group lowered their price objective on Exxon Mobil from $148.00 to $140.00 in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of “Hold” and an average price target of $124.66.

Insider Transactions at Exxon Mobil

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

Exxon Mobil Price Performance

Exxon Mobil stock opened at $100.87 on Wednesday. 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 cap of $407.82 billion, a P/E ratio of 6.83, a P/E/G ratio of 0.55 and a beta of 1.08. The business’s fifty day moving average is $105.14 and its two-hundred day 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 posted its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.18. The company 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 was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.07 earnings per share. Equities research analysts forecast that Exxon Mobil Co. will post 9.45 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Tuesday, May 16th were given a dividend of $0.91 per share. The ex-dividend date was Monday, May 15th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.61%. 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.