Hill Investment Group Partners LLC has decreased its stake in Exxon Mobil Corporation (NYSE: XOM) by 17.5% during the second quarter of 2023. This reduction was disclosed in a recent Form 13F filing with the Securities and Exchange Commission. Following the sale of 832 shares, Hill Investment Group now holds a total of 3,910 shares in the oil and gas giant, valued at approximately $421,000.
The adjustments in Hill Investment’s holdings come as part of broader trends among institutional investors regarding their positions in Exxon Mobil. For instance, Vanguard Group Inc. has increased its stake by 0.3%, now owning 431,058,875 shares worth nearly $46.47 billion. Geode Capital Management LLC also raised its holdings by 0.4%, bringing its total to 96,307,931 shares, valued at about $10.35 billion.
In addition, Bank of New York Mellon Corp. enhanced its position in Exxon Mobil by 2.8%, now holding 46,598,313 shares worth around $5.02 billion. Similarly, Charles Schwab Investment Management Inc. increased its stake by 3.5%, acquiring an additional 1,126,912 shares, resulting in ownership of 33,500,304 shares valued at approximately $3.61 billion.
Ameriprise Financial Inc. also made significant adjustments, boosting its investment by 10.8% in the first quarter, culminating in ownership of 27,017,683 shares worth about $3.21 billion. Overall, institutional investors and hedge funds now control 61.80% of Exxon Mobil’s stock.
Exxon Mobil’s Financial Performance
As of Monday, Exxon Mobil’s stock opened at $117.08. The company maintains a debt-to-equity ratio of 0.12, a current ratio of 1.25, and a quick ratio of 0.88. Over the past fifty days, the moving average price stands at $114.69, while the 200-day moving average price is $111.13. The market capitalization of Exxon Mobil is approximately $493.75 billion, with a price-to-earnings ratio of 16.63 and a price-to-earnings-growth ratio of 2.06. The stock has experienced a 12-month low of $97.80 and a high of $123.21.
Exxon Mobil also announced a quarterly dividend of $1.03 per share, set to be paid on December 10, 2023. This dividend represents an increase from the previous quarterly payout of $0.99. Shareholders of record on November 14, 2023 will be eligible for this payment, which translates to an annualized dividend of $4.12 and a yield of 3.5%. The company’s current payout ratio is 59.88%.
Analyst Ratings and Market Outlook
Recent evaluations from several equity research analysts indicate varied perspectives on Exxon Mobil’s future. Scotiabank reiterated an “outperform” rating on the shares on November 3, 2023. Meanwhile, Wall Street Zen upgraded the stock from a “sell” to a “hold” rating on September 13, 2023. UBS Group has increased its price target for Exxon Mobil from $143.00 to $145.00, maintaining a “buy” rating as of October 13, 2023.
Melius initiated coverage with a “hold” rating and a target price of $111.00 on August 20, 2023. Furthermore, Morgan Stanley raised its target from $134.00 to $135.00, assigning an “overweight” rating in a report dated August 4, 2023. Currently, two analysts have issued a Strong Buy rating, eight have assigned a Buy rating, and ten have designated a Hold rating. According to MarketBeat, Exxon Mobil holds a consensus rating of “Moderate Buy” with an average price target of $128.67.
For further insights into Exxon Mobil and its market activities, interested parties can explore the latest 13F filings and insider trades.
