Pallas Capital Advisors LLC Lowers Holdings in Exxon Mobil Co. (NYSE:XOM)

Posted by on Jul 28th, 2023

Pallas Capital Advisors LLC reduced its position in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,309 shares of the oil and gas company’s stock after selling 423 shares during the period. Pallas Capital Advisors LLC’s holdings in Exxon Mobil were worth $1,100,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of XOM. Your Advocates Ltd. LLP raised its holdings in shares of Exxon Mobil by 0.7% during the first quarter. Your Advocates Ltd. LLP now owns 12,178 shares of the oil and gas company’s stock valued at $1,335,000 after buying an additional 86 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. grew its position in Exxon Mobil by 0.8% in the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 11,282 shares of the oil and gas company’s stock worth $1,237,000 after buying an additional 87 shares during the last quarter. Bank of The West grew 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 worth $1,183,000 after purchasing an additional 89 shares in the last quarter. Motive Wealth Advisors grew 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 worth $472,000 after purchasing an additional 90 shares in the last quarter. Finally, Smart Money Group LLC grew 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 worth $272,000 after purchasing an additional 91 shares in the last quarter. 58.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,500 shares of the company’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 transaction, the vice president now directly owns 29,272 shares in the company, valued at $3,398,771.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial decreased their target price on shares of Exxon Mobil from $118.00 to $110.00 and set a “hold” rating for the company in a research note on Monday. The Goldman Sachs Group lowered shares of Exxon Mobil from a “buy” rating to a “neutral” rating and set a $125.00 price objective for the company. in a research note on Monday, May 1st. Piper Sandler cut their target price on shares of Exxon Mobil from $145.00 to $127.00 in a research report on Tuesday, June 13th. StockNews.com began coverage on shares of Exxon Mobil in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Wolfe Research lowered shares of Exxon Mobil from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $124.30.

Exxon Mobil Price Performance

NYSE:XOM opened at $105.43 on Friday. The firm has a market cap of $426.25 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 0.61 and a beta of 1.08. Exxon Mobil Co. has a 12 month low of $83.89 and a 12 month high of $119.92. 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 company’s 50-day moving average price is $105.01 and its two-hundred day moving average price is $109.21.

Exxon Mobil (NYSE:XOM – Get Free Report) last released its quarterly earnings results on Friday, April 28th. The oil and gas company reported $2.83 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.18. The firm had revenue of $86.56 billion for 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%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. On average, equities analysts anticipate that Exxon Mobil Co. will post 8.87 EPS for the current fiscal year.

Exxon Mobil 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.

Further Reading

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Institutional Ownership by Quarter for Exxon Mobil (NYSE:XOM)

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