Essex Financial Services Inc. Purchases 8,621 Shares of Exxon Mobil Co. (NYSE:XOM)

Essex Financial Services Inc. grew its position in shares of Exxon Mobil Co. (NYSE:XOM) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,969 shares of the oil and gas company’s stock after purchasing an additional 8,621 shares during the quarter. Exxon Mobil comprises approximately 1.2% of Essex Financial Services Inc.’s investment portfolio, making the stock its 15th largest position. Essex Financial Services Inc.’s holdings in Exxon Mobil were worth $11,895,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in XOM. Orion Capital Management LLC acquired a new stake in shares of Exxon Mobil during the 3rd quarter worth approximately $91,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Exxon Mobil during the 3rd quarter worth approximately $92,000. Keener Financial Planning LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $80,000. Sumitomo Mitsui Financial Group Inc. grew its position in shares of Exxon Mobil by 851.6% during the 3rd quarter. Sumitomo Mitsui Financial Group Inc. now owns 885 shares of the oil and gas company’s stock worth $106,000 after buying an additional 792 shares during the period. Finally, TFO Wealth Partners LLC grew its position in shares of Exxon Mobil by 118.5% during the 3rd quarter. TFO Wealth Partners LLC now owns 968 shares of the oil and gas company’s stock worth $104,000 after buying an additional 525 shares during the period. Institutional investors own 61.80% of the company’s stock.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,426 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $119.01, for a total value of $288,718.26. Following the sale, the vice president now directly owns 25,363 shares in the company, valued at approximately $3,018,450.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Darrin L. Talley sold 2,400 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $105.00, for a total transaction of $252,000.00. Following the sale, the vice president now directly owns 30,189 shares in the company, valued at $3,169,845. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $119.01, for a total value of $288,718.26. Following the sale, the vice president now owns 25,363 shares in the company, valued at $3,018,450.63. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

XOM has been the subject of several recent analyst reports. Mizuho reaffirmed a “neutral” rating and set a $125.00 price objective on shares of Exxon Mobil in a research report on Thursday, April 4th. TD Cowen raised their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. Scotiabank lifted their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Truist Financial lifted their price target on shares of Exxon Mobil from $140.00 to $146.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, UBS Group lifted their price target on shares of Exxon Mobil from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.56.

Exxon Mobil Stock Performance

Shares of NYSE XOM traded down $2.07 during mid-day trading on Wednesday, reaching $116.20. 13,911,883 shares of the company’s stock were exchanged, compared to its average volume of 18,175,145. The firm has a market capitalization of $459.95 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 4.14 and a beta of 0.96. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.06. The firm has a 50-day moving average price of $113.96 and a two-hundred day moving average price of $106.79.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The business had revenue of $83.08 billion for the quarter, compared to the consensus estimate of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.83 earnings per share. Analysts predict that Exxon Mobil Co. will post 9.62 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, May 14th. Exxon Mobil’s payout ratio is 46.57%.

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.