Exxon Mobil Co. (NYSE:XOM) Shares Sold by Northeast Investment Management

Posted by Defense World Staff on Jul 23rd, 2023

Northeast Investment Management cut its position in Exxon Mobil Co. (NYSE:XOM – Free Report) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,969 shares of the oil and gas company’s stock after selling 2,771 shares during the period. Exxon Mobil accounts for 1.3% of Northeast Investment Management’s holdings, making the stock its 25th largest position. Northeast Investment Management’s holdings in Exxon Mobil were worth $21,490,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Stone House Investment Management LLC acquired a new position in shares of Exxon Mobil during the 1st quarter worth approximately $25,000. Dark Forest Capital Management LP acquired a new position in Exxon Mobil during the fourth quarter worth $27,000. Corrado Advisors LLC purchased a new stake in Exxon Mobil in the 4th quarter valued at $28,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Exxon Mobil in the 4th quarter worth $36,000. Finally, Artemis Wealth Advisors LLC purchased a new position in shares of Exxon Mobil during the 1st quarter worth $36,000. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $116.11, for a total transaction of $290,275.00. Following the sale, the vice president now owns 29,272 shares of the company’s stock, valued at $3,398,771.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Exxon Mobil Trading Up 0.5 %

Shares of NYSE:XOM opened at $103.89 on Friday. The company has a market cap of $420.03 billion, a PE ratio of 7.03, a P/E/G ratio of 0.55 and a beta of 1.08. The company’s 50 day moving average is $104.93 and its two-hundred day moving average is $109.28. Exxon Mobil Co. has a 52 week low of $83.89 and a 52 week high of $119.92. 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 posted its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.18. The company 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%. Exxon Mobil’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. Equities analysts predict that Exxon Mobil Co. will post 9.45 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Tuesday, May 16th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.50%. The ex-dividend date was Monday, May 15th. Exxon Mobil’s payout ratio is 24.64%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on XOM shares. Morgan Stanley cut their price objective on shares of Exxon Mobil from $122.00 to $121.00 and set an “overweight” rating for the company in a research report on Tuesday, July 18th. Truist Financial lifted their price target on shares of Exxon Mobil from $116.00 to $118.00 in a research report on Monday, May 1st. HSBC increased their price objective on Exxon Mobil from $113.50 to $115.50 and gave the stock a “hold” rating in a research report on Thursday, April 20th. StockNews.com assumed coverage on Exxon Mobil in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, UBS Group raised Exxon Mobil from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $125.00 to $144.00 in a research report on Tuesday, April 18th. One equities research 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. Based on data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Hold” and a consensus price target of $124.66.

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.