Trust Investment Advisors has lowered its stake in Exxon Mobil Corporation (NYSE: XOM) by 3.6% during the second quarter, as reported in the firm’s latest 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 474 shares, Trust Investment Advisors now holds 12,859 shares of the oil and gas giant, valued at approximately $1,386,000 at the close of the reporting period.
This reduction comes amid a wave of activity from other institutional investors. Graybill Wealth Management LTD initiated a new position in Exxon Mobil during the first quarter, investing around $29,000. Similarly, Elequin Capital LP also bought new shares for about $31,000. Notably, Clal Insurance Enterprises Holdings Ltd increased its position in Exxon Mobil by an impressive 396.7%, acquiring 298 shares valued at $35,000 after purchasing an additional 238 shares.
Other significant movements include Game Plan Financial Advisors LLC, which raised its holdings by a staggering 1,500.0%, owning 320 shares worth $38,000 after adding 300 shares during the last quarter. Additionally, Marshall & Sullivan Inc. entered the market with a position valued at about $38,000 in the second quarter. Currently, hedge funds and institutional investors hold approximately 61.80% of Exxon Mobil’s stock.
Exxon Mobil Stock Performance
Exxon Mobil’s stock opened at $115.07 on Wednesday, reflecting a market capitalization of $490.56 billion. The stock is currently trading at a price-to-earnings (P/E) ratio of 16.34 and has a price-to-earnings-growth (PEG) ratio of 2.06. With a beta of 0.51, Exxon Mobil’s risk level appears relatively low compared to the broader market. The company maintains a debt-to-equity ratio of 0.12 and liquidity ratios of 0.88 (quick ratio) and 1.25 (current ratio). Over the past year, the stock has fluctuated between a low of $97.80 and a high of $123.21, with a fifty-day moving average of $112.92 and a 200-day moving average of $109.74.
Dividend Announcement and Analyst Ratings
Exxon Mobil also declared a quarterly dividend, which was disbursed on September 10, 2023. Shareholders on record as of August 15, 2023 received a dividend of $0.99 per share, amounting to an annualized dividend of $3.96, resulting in a dividend yield of 3.4%. The company’s current dividend payout ratio stands at 56.25%.
Several brokerages have recently issued new ratings for Exxon Mobil. Notably, Piper Sandler set a target price of $141.00 in a report dated October 7, 2023, while Morgan Stanley adjusted its price objective from $134.00 to $135.00, maintaining an “overweight” rating. Wells Fargo & Company also commenced coverage with an “overweight” rating and a target of $156.00.
In contrast, Melius has assigned a “hold” rating with a target price of $111.00, while Bank of America raised its target from $113.00 to $120.00, offering a “neutral” rating. The consensus rating among analysts indicates a “Moderate Buy” with an average price target of $127.58.
In a recent insider transaction, Vice President Darrin L. Talley sold 2,158 shares at an average price of $110.45 on August 22, 2023, resulting in a total transaction value of $238,351.10. Post-sale, Talley’s holdings decreased by 13.50%, leaving him with 13,829 shares valued at approximately $1,527,413.05.
Exxon Mobil Corporation is engaged in the exploration and production of crude oil and natural gas, operating both in the United States and internationally through various segments, including Upstream, Energy Products, Chemical Products, and Specialty Products. The ongoing investor activity reflects changing dynamics in the energy sector and the broader market landscape.
