Corebridge Financial Inc. Lowers Holdings in Exxon Mobil Co. (NYSE:XOM)

Corebridge Financial Inc. lowered its position in shares of Exxon Mobil Co. (NYSE:XOM) by 5.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,010,130 shares of the oil and gas company’s stock after selling 59,894 shares during the period. Exxon Mobil comprises approximately 0.6% of Corebridge Financial Inc.’s holdings, making the stock its 17th largest holding. Corebridge Financial Inc.’s holdings in Exxon Mobil were worth $108,660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in Exxon Mobil by 0.3% during the 3rd quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after purchasing an additional 395,218 shares during the period. Geode Capital Management LLC lifted its position in shares of Exxon Mobil by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock worth $10,777,735,000 after purchasing an additional 1,622,064 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Exxon Mobil by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,860,532 shares of the oil and gas company’s stock valued at $3,427,237,000 after buying an additional 700,415 shares during the period. Finally, Franklin Resources Inc. raised its stake in Exxon Mobil by 16.3% in the third quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock worth $3,936,929,000 after buying an additional 4,415,012 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,100 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the transaction, the vice president now owns 18,087 shares of the company’s stock, valued at $1,989,570. The trade was a 10.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

XOM has been the topic of several recent research reports. UBS Group dropped their target price on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Morgan Stanley lifted their target price on Exxon Mobil from $139.00 to $140.00 in a research note on Friday, January 31st. Scotiabank decreased their price target on shares of Exxon Mobil from $145.00 to $140.00 in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on shares of Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Truist Financial boosted their price objective on shares of Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $129.15.

Exxon Mobil Trading Down 0.5 %

Shares of NYSE:XOM opened at $115.30 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Exxon Mobil Co. has a 52-week low of $103.67 and a 52-week high of $126.34. The stock has a market cap of $500.29 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 3.02 and a beta of 0.83. The business has a 50-day moving average price of $110.09 and a 200-day moving average price of $113.57.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same quarter in the previous year, the business earned $2.48 EPS. Equities analysts predict that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 12th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.43%. Exxon Mobil’s dividend payout ratio is presently 50.51%.

Exxon Mobil 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.