Angeles Investment Advisors LLC Decreases Stake in Exxon Mobil Co. (NYSE:XOM)

11 Feb 2024, 15:00 by Doug Wharley · The Cerbat Gem

Angeles Investment Advisors LLC lessened its stake in shares of Exxon Mobil Co. (NYSE:XOM – Free Report) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,791 shares of the oil and gas company’s stock after selling 442 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Exxon Mobil were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Moneta Group Investment Advisors LLC boosted its position in shares of Exxon Mobil by 140,855.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 123,341,568 shares of the oil and gas company’s stock worth $13,604,575,000 after purchasing an additional 123,254,064 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Exxon Mobil by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 74,126,090 shares of the oil and gas company’s stock valued at $7,930,414,000 after buying an additional 254,968 shares during the last quarter. Morgan Stanley raised its stake in shares of Exxon Mobil by 11.9% during the 4th quarter. Morgan Stanley now owns 52,478,674 shares of the oil and gas company’s stock valued at $5,788,398,000 after buying an additional 5,566,797 shares during the last quarter. Norges Bank purchased a new position in shares of Exxon Mobil during the 4th quarter valued at about $5,226,390,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Exxon Mobil by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 32,615,361 shares of the oil and gas company’s stock valued at $3,497,972,000 after buying an additional 2,493,492 shares during the last quarter. Institutional investors own 58.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Redburn Atlantic upgraded Exxon Mobil from a “neutral” rating to a “buy” rating and lifted their price target for the company from $116.00 to $119.00 in a research note on Tuesday, January 9th. Erste Group Bank restated a “hold” rating on shares of Exxon Mobil in a report on Friday, December 22nd. UBS Group lowered their target price on Exxon Mobil from $133.00 to $132.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. JPMorgan Chase & Co. lowered their target price on Exxon Mobil from $134.00 to $127.00 and set an “overweight” rating on the stock in a report on Friday, December 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $120.00 target price on shares of Exxon Mobil in a report on Monday, February 5th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $127.53.

Check Out Our Latest Analysis on Exxon Mobil

Insider Buying and Selling

In other Exxon Mobil news, VP Leonard M. Fox sold 12,000 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $102.65, for a total value of $1,231,800.00. Following the completion of the transaction, the vice president now directly owns 220,678 shares of the company’s stock, valued at $22,652,596.70. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP Leonard M. Fox sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $102.65, for a total transaction of $1,231,800.00. Following the completion of the transaction, the vice president now directly owns 220,678 shares of the company’s stock, valued at approximately $22,652,596.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey W. Ubben sold 2,077,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $104.06, for a total transaction of $216,132,620.00. Following the transaction, the director now directly owns 13,000 shares of the company’s stock, valued at $1,352,780. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Exxon Mobil Stock Performance

NYSE XOM opened at $101.77 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.09. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $120.70. The company has a market capitalization of $403.31 billion, a PE ratio of 11.45, a P/E/G ratio of 3.61 and a beta of 0.97. The company has a fifty day moving average of $100.75 and a two-hundred day moving average of $106.36.

Exxon Mobil (NYSE:XOM – Get Free Report) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.28. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The company had revenue of $84.34 billion during the quarter, compared to the consensus estimate of $90.03 billion. During the same quarter in the prior year, the firm posted $3.40 earnings per share. Exxon Mobil’s revenue for the quarter was down 11.6% on a year-over-year basis. As a group, analysts expect that Exxon Mobil Co. will post 9.39 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Wednesday, February 14th will be issued a dividend of $0.95 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $3.80 annualized dividend and a yield of 3.73%. Exxon Mobil’s dividend payout ratio is currently 42.74%.

Exxon Mobil Company Profile

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