Exxon Mobil Co. (NYSE:XOM) is Canal Insurance CO’s 9th Largest Position

Posted by Defense World Staff on Jul 21st, 2023

Canal Insurance CO lessened its stake in Exxon Mobil Co. (NYSE:XOM – Free Report) by 0.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,000 shares of the oil and gas company’s stock after selling 100 shares during the period. Exxon Mobil makes up about 3.4% of Canal Insurance CO’s holdings, making the stock its 9th biggest holding. Canal Insurance CO’s holdings in Exxon Mobil were worth $12,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of XOM. Stone House Investment Management LLC purchased a new position in Exxon Mobil in the 1st quarter worth approximately $25,000. Dark Forest Capital Management LP purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at $27,000. Corrado Advisors LLC purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at $28,000. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Exxon Mobil in the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. boosted its stake in shares of Exxon Mobil by 1,207.1% in the 4th quarter. Financial Connections Group Inc. now owns 366 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 58.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on XOM shares. HSBC upped their price objective on shares of Exxon Mobil from $113.50 to $115.50 and gave the company a “hold” rating in a research note on Thursday, April 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $125.00 price objective on shares of Exxon Mobil in a research note on Wednesday. The Goldman Sachs Group cut shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price target for the company. in a research report on Monday, May 1st. StockNews.com assumed coverage on shares of Exxon Mobil in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Jefferies Financial Group dropped their price target on shares of Exxon Mobil from $148.00 to $140.00 in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $124.66.

Exxon Mobil Stock Up 1.8 %

Shares of Exxon Mobil stock opened at $103.40 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.46 and a quick ratio of 1.10. The company has a 50-day moving average of $104.97 and a 200 day moving average of $109.31. The firm has a market cap of $418.05 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.55 and a beta of 1.08. Exxon Mobil Co. has a 1 year low of $83.89 and a 1 year high of $119.92.

Exxon Mobil (NYSE:XOM – Get Free Report) last issued its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.18. The company had revenue of $86.56 billion during the quarter, compared to analyst estimates of $90.07 billion. Exxon Mobil had a net margin of 15.06% and a return on equity of 31.48%. Exxon Mobil’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $2.07 EPS. As a group, sell-side analysts anticipate that Exxon Mobil Co. will post 9.45 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were paid 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 yield of 3.52%. Exxon Mobil’s dividend payout ratio is currently 24.64%.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were 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 directly 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 can be accessed through the SEC website. 0.04% of the stock is owned by company insiders.

About Exxon Mobil

(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.