Pinnacle West Asset Management Inc. Has $2.16 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Pinnacle West Asset Management Inc. increased its holdings in Exxon Mobil Co. (NYSE:XOM) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,090 shares of the oil and gas company’s stock after acquiring an additional 475 shares during the period. Exxon Mobil comprises 1.5% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Pinnacle West Asset Management Inc.’s holdings in Exxon Mobil were worth $2,161,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Keystone Financial Group Inc. purchased a new position in Exxon Mobil during the fourth quarter worth about $36,000. Retirement Wealth Solutions LLC bought a new position in shares of Exxon Mobil during the 4th quarter worth approximately $46,000. Compass Planning Associates Inc purchased a new position in shares of Exxon Mobil in the 4th quarter worth approximately $47,000. Compass Financial Services Inc bought a new position in shares of Exxon Mobil in the fourth quarter valued at approximately $48,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Exxon Mobil during the third quarter valued at approximately $51,000. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price objective on shares of Exxon Mobil in a research report on Monday, February 3rd. TD Cowen cut their price target on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Piper Sandler decreased their price objective on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their target price on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, Bernstein Bank increased their target price on shares of Exxon Mobil from $138.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.25.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $110.06 on Friday. The stock has a fifty day moving average of $108.84 and a 200-day moving average of $114.31. The stock has a market cap of $477.58 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 3.02 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. Exxon Mobil Co. has a fifty-two week low of $104.00 and a fifty-two week high of $126.34.

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

Exxon Mobil Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction on Tuesday, February 4th. The stock was 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 owns 18,087 shares of the company’s stock, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.

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.