Exxon Mobil Co. (NYSE:XOM) is PBMares Wealth Management LLC’s 7th Largest Position

Posted by Defense World Staff on Oct 9th, 2023

PBMares Wealth Management LLC lowered its stake in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,249 shares of the oil and gas company’s stock after selling 1,235 shares during the period. Exxon Mobil accounts for approximately 3.7% of PBMares Wealth Management LLC’s portfolio, making the stock its 7th largest holding. PBMares Wealth Management LLC’s holdings in Exxon Mobil were worth $10,323,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Triasima Portfolio Management inc. boosted its holdings in Exxon Mobil by 3.5% in the 1st quarter. Triasima Portfolio Management inc. now owns 4,563 shares of the oil and gas company’s stock valued at $500,000 after purchasing an additional 153 shares during the period. TIAA FSB boosted its stake in Exxon Mobil by 8.2% during the first quarter. TIAA FSB now owns 509,184 shares of the oil and gas company’s stock valued at $55,837,000 after buying an additional 38,760 shares during the period. Horizons Wealth Management grew its position in Exxon Mobil by 214.6% during the second quarter. Horizons Wealth Management now owns 453 shares of the oil and gas company’s stock worth $49,000 after buying an additional 309 shares in the last quarter. Nvest Financial LLC grew its position in Exxon Mobil by 5.6% during the first quarter. Nvest Financial LLC now owns 3,651 shares of the oil and gas company’s stock worth $400,000 after buying an additional 194 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Exxon Mobil by 4.9% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 21,302 shares of the oil and gas company’s stock valued at $2,336,000 after acquiring an additional 1,003 shares in the last quarter. 58.53% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $107.17 on Monday. The firm has a market capitalization of $429.02 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 0.44 and a beta of 1.05. The stock has a fifty day moving average of $112.06 and a 200 day moving average of $109.36. Exxon Mobil Co. has a 52 week low of $96.75 and a 52 week high of $120.70. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

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). Exxon Mobil had a return on equity of 25.82% and a net margin of 13.72%. The company had revenue of $82.91 billion during the quarter, compared to analysts’ expectations of $81.80 billion. During the same period in the prior year, the business posted $4.14 earnings per share. The company’s revenue for the quarter was down 28.3% on a year-over-year basis. As a group, research analysts expect that Exxon Mobil Co. will post 9.25 earnings per share for the current year.

Exxon Mobil Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on XOM. Truist Financial cut their price objective on Exxon Mobil from $118.00 to $110.00 and set a “hold” rating for the company in a report on Monday, July 24th. StockNews.com began coverage on shares of Exxon Mobil in a research report on Thursday. They set a “hold” rating on the stock. UBS Group upped their target price on shares of Exxon Mobil from $139.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Redburn Partners upgraded Exxon Mobil from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $100.00 to $105.00 in a report on Thursday, August 31st. Finally, Piper Sandler dropped their target price on Exxon Mobil from $145.00 to $127.00 in a research report on Tuesday, June 13th. Eleven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average price target of $124.48.

Read Our Latest Report on Exxon Mobil

Insider Transactions at Exxon Mobil

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

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.