New Vernon Investment Management LLC Grows Stock Holdings in Exxon Mobil Corporation $XOM

Key Points

• New Vernon Investment Management LLC significantly increased its stake in Exxon Mobil by 1,140.6%, acquiring a total of 19,850 shares valued at $2,361,000, marking Exxon as its 13th largest position.
• VP Darrin L. Talley sold 2,158 shares of Exxon Mobil at an average price of $110.45, resulting in a 13.50% decrease in his holdings.
• Exxon Mobil recently announced a quarterly $0.99 dividend with a yield of 3.5%, and it is scheduled to be paid on September 10th, 2023.

New Vernon Investment Management LLC increased its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 1,140.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,850 shares of the oil and gas company's stock after purchasing an additional 18,250 shares during the period. Exxon Mobil accounts for 3.2% of New Vernon Investment Management LLC's portfolio, making the stock its 13th largest holding. New Vernon Investment Management LLC's holdings in Exxon Mobil were worth $2,361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. 10Elms LLP bought a new stake in Exxon Mobil in the 4th quarter valued at $25,000. Graybill Wealth Management LTD. bought a new stake in Exxon Mobil in the 1st quarter valued at $29,000. Elequin Capital LP bought a new stake in Exxon Mobil in the 1st quarter valued at $31,000. Capital A Wealth Management LLC bought a new stake in Exxon Mobil in the 4th quarter valued at $32,000. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in Exxon Mobil by 396.7% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 238 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of Exxon Mobil stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. The trade was a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company's stock.

Exxon Mobil Trading Up 0.8%

Shares of XOM stock traded up $0.93 during trading hours on Friday, reaching $114.28. 14,596,397 shares of the stock were exchanged, compared to its average volume of 15,404,174. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $126.34. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company's 50-day moving average price is $110.16 and its 200-day moving average price is $109.00. The firm has a market capitalization of $487.21 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 2.13 and a beta of 0.57.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. During the same period in the previous year, the company earned $2.14 EPS. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil's payout ratio is currently 56.25%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on XOM shares. Barclays reiterated a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Melius Research began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective for the company. Melius began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price objective for the company. Mizuho dropped their price objective on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Piper Sandler lifted their price objective on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $125.00.

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.