ROI Financial Advisors LLC has increased its investment in Exxon Mobil Corporation, purchasing 2,739 shares valued at approximately $295,000. This acquisition occurred during the second quarter of 2023, according to a report from HoldingsChannel.com. The move highlights the growing interest from institutional investors in the oil and gas sector, particularly in major companies like Exxon Mobil.
A number of other firms have also adjusted their holdings in Exxon Mobil recently. For instance, Graybill Wealth Management LTD acquired a position valued at $29,000 in the first quarter. Elequin Capital LP also entered the market with a stake worth $31,000. Notably, Clal Insurance Enterprises Holdings Ltd increased its stake by an impressive 396.7%, now owning 298 shares valued at $35,000, after acquiring an additional 238 shares. Game Plan Financial Advisors LLC reported a significant 1,500% increase, now holding 320 shares worth $38,000. Finally, 1248 Management LLC added a new position valued at about $40,000.
As a whole, institutional investors own 61.80% of Exxon Mobil’s stock, demonstrating substantial confidence in the company.
Analyst Ratings Update
Recent analyses have revealed varied perspectives on Exxon Mobil’s stock. UBS Group raised its price target from $143.00 to $145.00, maintaining a “buy” rating as of October 13, 2023. Meanwhile, Wall Street Zen upgraded the stock from a “sell” to a “hold” rating, reflecting a shift in sentiment. Piper Sandler has set a price target of $141.00, while Melius Research initiated coverage with a “hold” rating and a price target of $111.00.
Overall, two analysts have rated Exxon Mobil with a Strong Buy, eight with a Buy, and ten with a Hold rating. According to MarketBeat, the stock currently holds an average rating of “Moderate Buy” with a consensus target price of $128.50.
Current Stock Performance
On October 12, 2023, Exxon Mobil shares opened at $113.73. The company maintains a current ratio of 1.25, a quick ratio of 0.88, and a debt-to-equity ratio of 0.12. Exxon Mobil has a market capitalization of $484.86 billion and a price-to-earnings ratio of 16.15. Its beta stands at 0.49, indicating lower volatility compared to the broader market. The stock has fluctuated between a one-year low of $97.80 and a high of $123.21.
Exxon Mobil last reported its quarterly earnings on June 17, 2023, announcing earnings per share of $0.65. The company recorded a net margin of 9.17% and a return on equity of 11.34%, with revenues amounting to $57.55 billion for the quarter. Analysts predict that Exxon Mobil will report earnings per share of $7.43 for the current fiscal year.
Dividend Increase and Insider Activity
In a positive development for shareholders, Exxon Mobil recently declared a quarterly dividend of $1.03 per share, set to be paid on December 10, 2023. This marks an increase from the previous dividend of $0.99. The ex-dividend date is November 14, 2023, and this change reflects a projected annualized dividend of $4.12 and a yield of 3.6%. The company’s current payout ratio is 59.88%.
In related news, Vice President Darrin L. Talley sold 2,158 shares of Exxon Mobil on August 22, 2023, at an average price of $110.45, amounting to a total value of $238,351.10. Following this transaction, Talley retains ownership of 13,829 shares, valued at approximately $1,527,413.05. Insider ownership currently stands at 0.03%.
Exxon Mobil Corporation is engaged in the exploration and production of crude oil and natural gas, operating both domestically and internationally across various segments. The company continues to be a major player in the energy sector, adapting to market dynamics and shareholder interests.
