Hill Investment Group Partners LLC has reduced its stake in Exxon Mobil Corporation (NYSE: XOM) by 17.5% during the second quarter of 2023. According to its latest Form 13F filing with the Securities and Exchange Commission, the institutional investor now holds 3,910 shares of the oil and gas giant, having sold 832 shares during the quarter. At the end of this period, Hill Investment Group’s holdings in Exxon Mobil were valued at approximately $421,000.
Other institutional investors have also made adjustments to their positions in Exxon Mobil. Vanguard Group Inc. increased its stake by 0.3%, now owning 431,058,875 shares, valued at $46.47 billion after acquiring an additional 1,111,231 shares. Similarly, Geode Capital Management LLC raised its position by 0.4%, owning 96,307,931 shares worth $10.35 billion after buying 342,967 shares.
Additionally, Bank of New York Mellon Corp. boosted its stake by 2.8%, bringing its total to 46,598,313 shares valued at $5.02 billion following the purchase of 1,274,860 shares. Charles Schwab Investment Management Inc. also grew its holdings by 3.5%, now holding 33,500,304 shares valued at approximately $3.61 billion after acquiring 1,126,912 shares. Moreover, Ameriprise Financial Inc. increased its stake by 10.8% in the first quarter, now owning 27,017,683 shares valued at $3.21 billion.
Overall, institutional investors and hedge funds currently own 61.80% of Exxon Mobil’s stock.
Stock Performance and Dividend Announcement
As of Monday, Exxon Mobil’s stock opened at $117.08. The company maintains a low debt-to-equity ratio of 0.12, a current ratio of 1.25, and a quick ratio of 0.88. Its fifty-day moving average price stands at $114.69, while the 200-day moving average price is $111.13. Exxon Mobil has a market capitalization of $493.75 billion, 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.
In a positive development for shareholders, Exxon Mobil recently announced a quarterly dividend of $1.03 per share, which will be paid on December 10, 2023. Shareholders of record on November 14, 2023, will receive this dividend, representing an increase from the previous quarterly dividend of $0.99. This equates to an annualized dividend of $4.12 and a yield of 3.5%, with a payout ratio currently at 59.88%.
Analyst Ratings and Market Consensus
Several equity research analysts have recently reviewed Exxon Mobil’s stock. Scotiabank reaffirmed an “outperform” rating on November 3, 2023, while Wall Street Zen upgraded the stock from a “sell” to a “hold” rating on September 13, 2023. UBS Group raised its price target on Exxon Mobil from $143.00 to $145.00 and maintained a “buy” rating in an October 13 report. Melius initiated coverage with a “hold” rating and a target price of $111.00. Morgan Stanley also increased its price target from $134.00 to $135.00, giving the stock an “overweight” rating.
Currently, two analysts have rated the stock as a Strong Buy, eight have assigned a Buy rating, and ten have given it a Hold rating. According to MarketBeat, Exxon Mobil’s consensus rating is “Moderate Buy” with an average price target of $128.67.
Investors keen to track institutional movements or insider trades can visit HoldingsChannel.com for the latest 13F filings related to Exxon Mobil Corporation (NYSE: XOM).
