Venturi Wealth Management LLC Decreases Stock Position in Exxon Mobil Co. (NYSE:XOM)

Posted by Defense World Staff on Oct 9th, 2023

Venturi Wealth Management LLC lessened its holdings in Exxon Mobil Co. (NYSE:XOM – Free Report) by 9.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,917 shares of the oil and gas company’s stock after selling 5,563 shares during the period. Venturi Wealth Management LLC’s holdings in Exxon Mobil were worth $5,568,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Your Advocates Ltd. LLP boosted its stake in shares of Exxon Mobil by 0.7% in 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 purchasing an additional 86 shares during the period. Murphy Middleton Hinkle & Parker Inc. lifted its holdings in Exxon Mobil by 0.8% in the 1st 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 in the last quarter. Revolve Wealth Partners LLC boosted its position in Exxon Mobil by 1.4% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,555 shares of the oil and gas company’s stock valued at $719,000 after buying an additional 92 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Exxon Mobil by 1.2% during the first quarter. Rosenberg Matthew Hamilton now owns 8,259 shares of the oil and gas company’s stock valued at $906,000 after acquiring an additional 95 shares in the last quarter. Finally, Darwin Wealth Management LLC increased its position in shares of Exxon Mobil by 2.3% during the first quarter. Darwin Wealth Management LLC now owns 4,283 shares of the oil and gas company’s stock worth $491,000 after acquiring an additional 95 shares during the last quarter. 58.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on XOM shares. HSBC raised their price objective on Exxon Mobil from $110.00 to $116.00 in a research note on Wednesday, August 9th. Morgan Stanley lifted their price target on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, October 2nd. StockNews.com assumed coverage on shares of Exxon Mobil in a research note on Thursday. They set a “hold” rating on the stock. Bank of America boosted their target price on shares of Exxon Mobil from $145.00 to $150.00 in a research report on Wednesday, September 27th. Finally, Wells Fargo & Company increased their price target on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, September 22nd. Eleven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.48.

Check Out Our Latest Research Report on XOM

Exxon Mobil Stock Performance

Shares of XOM opened at $107.17 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.48. Exxon Mobil Co. has a 1 year low of $96.75 and a 1 year high of $120.70. The firm has a fifty day moving average of $112.06 and a 200-day moving average of $109.36. The company has a market cap of $429.02 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 0.44 and a beta of 1.05.

Exxon Mobil (NYSE:XOM – Get Free Report) last posted its earnings results on Friday, July 28th. The oil and gas company reported $1.94 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.06). The firm had revenue of $82.91 billion during the quarter, compared to the consensus estimate of $81.80 billion. Exxon Mobil had a return on equity of 25.82% and a net margin of 13.72%. Exxon Mobil’s revenue for the quarter was down 28.3% on a year-over-year basis. During the same quarter last year, the company posted $4.14 EPS. As a group, equities analysts anticipate that Exxon Mobil Co. will post 9.25 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 3.40%. The ex-dividend date was Tuesday, August 15th. Exxon Mobil’s payout ratio is currently 29.12%.

Insiders Place Their Bets

In other Exxon Mobil news, Director Jeffrey W. Ubben purchased 458,000 shares of the stock in a transaction dated Monday, July 31st. The shares were bought at an average cost of $106.93 per share, with a total value of $48,973,940.00. Following the completion of the acquisition, the director now owns 1,635,000 shares of the company’s stock, valued at $174,830,550. The purchase was disclosed in a filing with the SEC, which is available through this link. In related news, Director Jeffrey W. Ubben bought 458,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $106.93 per share, for a total transaction of $48,973,940.00. Following the transaction, the director now directly owns 1,635,000 shares of the company’s stock, valued at approximately $174,830,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Darrin L. Talley sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $115.00, for a total transaction of $172,500.00. Following the transaction, the vice president now directly owns 27,772 shares in the company, valued at approximately $3,193,780. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by 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.