Meridian Wealth Management LLC Raises Stock Position in Exxon Mobil Co. (NYSE:XOM)

Meridian Wealth Management LLC boosted its position in Exxon Mobil Co. (NYSE:XOM) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 719,186 shares of the oil and gas company’s stock after purchasing an additional 10,895 shares during the quarter. Exxon Mobil comprises 3.7% of Meridian Wealth Management LLC’s holdings, making the stock its 4th biggest position. Meridian Wealth Management LLC’s holdings in Exxon Mobil were worth $77,363,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Keystone Financial Group Inc. bought a new stake in shares of Exxon Mobil during the 4th quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new stake in shares of Exxon Mobil during the 4th quarter worth about $46,000. Compass Planning Associates Inc bought a new stake in shares of Exxon Mobil during the 4th quarter worth about $47,000. Compass Financial Services Inc bought a new stake in shares of Exxon Mobil during the 4th quarter worth about $48,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Exxon Mobil during the 3rd quarter worth about $51,000. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Performance

XOM stock opened at $107.55 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $466.67 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 3.02 and a beta of 0.89. Exxon Mobil Co. has a 12 month low of $104.32 and a 12 month high of $126.34. The firm has a 50 day moving average of $109.00 and a two-hundred day moving average of $114.04.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing the consensus estimate 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 prior year, the company earned $2.48 earnings per share. As a group, equities analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Wednesday, February 12th. Exxon Mobil’s dividend payout ratio is currently 50.51%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,100 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the sale, the vice president now directly owns 18,087 shares of the company’s stock, valued at approximately $1,989,570. This represents a 10.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. HSBC dropped their price target on shares of Exxon Mobil from $125.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Truist Financial lifted 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Exxon Mobil in a research note on Monday, February 3rd. Mizuho lowered their price objective on shares of Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Argus raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and a consensus target price of $129.25.

About Exxon Mobil

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.