Corebridge Financial Inc. Cuts Stock Position in Exxon Mobil Co. (NYSE:XOM)

Corebridge Financial Inc. trimmed its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,010,130 shares of the oil and gas company’s stock after selling 59,894 shares during the quarter. Exxon Mobil makes up approximately 0.6% of Corebridge Financial Inc.’s investment portfolio, making the stock its 17th largest position. Corebridge Financial Inc.’s holdings in Exxon Mobil were worth $108,660,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Rockline Wealth Management LLC increased its stake in Exxon Mobil by 6.1% during the 4th quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company’s stock worth $2,788,000 after buying an additional 1,498 shares in the last quarter. Renasant Bank increased its position in shares of Exxon Mobil by 5.0% during the fourth quarter. Renasant Bank now owns 10,369 shares of the oil and gas company’s stock worth $1,115,000 after purchasing an additional 493 shares in the last quarter. Helen Stephens Group LLC lifted its holdings in Exxon Mobil by 7.3% in the 4th quarter. Helen Stephens Group LLC now owns 41,637 shares of the oil and gas company’s stock valued at $4,479,000 after purchasing an additional 2,825 shares in the last quarter. Brooklyn Investment Group lifted its holdings in Exxon Mobil by 36.8% in the 3rd quarter. Brooklyn Investment Group now owns 25,127 shares of the oil and gas company’s stock valued at $2,945,000 after purchasing an additional 6,753 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in Exxon Mobil by 41.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 76,288 shares of the oil and gas company’s stock worth $8,942,000 after purchasing an additional 22,296 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of recent research reports. Piper Sandler reduced their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. lowered their target price on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. HSBC dropped their price target on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Truist Financial boosted their price objective on Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, UBS Group cut their target price on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average price target of $129.15.

Exxon Mobil Stock Performance

NYSE:XOM opened at $115.30 on Monday. The stock has a market capitalization of $500.29 billion, a P/E ratio of 14.71, a PEG ratio of 3.02 and a beta of 0.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. Exxon Mobil Co. has a fifty-two week low of $103.67 and a fifty-two week high of $126.34. The company has a 50 day moving average price of $110.09 and a 200 day moving average price of $113.57.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same period last year, the firm earned $2.48 earnings per share. Equities research analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.43%. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the sale, the vice president now directly owns 18,087 shares of the company’s stock, valued at $1,989,570. This represents a 10.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Exxon Mobil Company Profile

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.