Modern Wealth Management LLC Grows Stake in Exxon Mobil Co. (NYSE:XOM)

Modern Wealth Management LLC lifted its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 72.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,345 shares of the oil and gas company’s stock after acquiring an additional 46,921 shares during the quarter. Modern Wealth Management LLC’s holdings in Exxon Mobil were worth $12,356,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Longfellow Investment Management Co. LLC increased its holdings in shares of Exxon Mobil by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 14,537 shares of the oil and gas company’s stock valued at $1,704,000 after purchasing an additional 88 shares during the period. West Oak Capital LLC increased its holdings in Exxon Mobil by 0.6% in the 4th quarter. West Oak Capital LLC now owns 16,207 shares of the oil and gas company’s stock worth $1,743,000 after buying an additional 92 shares during the period. Beacon Capital Management LLC raised its position in Exxon Mobil by 1.1% during the 4th quarter. Beacon Capital Management LLC now owns 8,582 shares of the oil and gas company’s stock worth $923,000 after buying an additional 93 shares during the last quarter. Cadent Capital Advisors LLC lifted its stake in Exxon Mobil by 0.3% during the 4th quarter. Cadent Capital Advisors LLC now owns 37,372 shares of the oil and gas company’s stock valued at $4,020,000 after acquiring an additional 94 shares during the period. Finally, Lincoln Capital LLC boosted its holdings in shares of Exxon Mobil by 1.1% in the 4th quarter. Lincoln Capital LLC now owns 8,521 shares of the oil and gas company’s stock valued at $917,000 after acquiring an additional 94 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,100 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the sale, the vice president now owns 18,087 shares of the company’s stock, valued at approximately $1,989,570. This represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Performance

NYSE:XOM opened at $115.81 on Tuesday. Exxon Mobil Co. has a twelve month low of $103.67 and a twelve month high of $126.34. The company has a market cap of $502.52 billion, a P/E ratio of 14.77, a P/E/G ratio of 3.02 and a beta of 0.83. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $110.22 and its 200-day moving average price is $113.58.

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

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays reduced their target price on shares of Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Bernstein Bank boosted their price objective on Exxon Mobil from $138.00 to $144.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Piper Sandler dropped their target price on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Morgan Stanley boosted their price target on Exxon Mobil from $139.00 to $140.00 in a report on Friday, January 31st. Finally, BMO Capital Markets cut their target price on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.15.

About Exxon Mobil

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.