Corebridge Financial Inc. Has $108.66 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Corebridge Financial Inc. lowered its holdings in Exxon Mobil Co. (NYSE:XOM - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & 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 accounts for 0.6% of Corebridge Financial Inc.'s investment portfolio, making the stock its 17th biggest position. Corebridge Financial Inc.'s holdings in Exxon Mobil were worth $108,660,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC increased its stake in shares of Exxon Mobil by 0.6% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 14,537 shares of the oil and gas company's stock valued at $1,704,000 after acquiring an additional 88 shares during the last quarter. West Oak Capital LLC increased its stake in Exxon Mobil by 0.6% in the fourth quarter. West Oak Capital LLC now owns 16,207 shares of the oil and gas company's stock valued at $1,743,000 after purchasing an additional 92 shares in the last quarter. Beacon Capital Management LLC raised its holdings in Exxon Mobil by 1.1% in the fourth quarter. Beacon Capital Management LLC now owns 8,582 shares of the oil and gas company's stock worth $923,000 after purchasing an additional 93 shares during the period. Cadent Capital Advisors LLC boosted its position in shares of Exxon Mobil by 0.3% during the fourth quarter. Cadent Capital Advisors LLC now owns 37,372 shares of the oil and gas company's stock worth $4,020,000 after purchasing an additional 94 shares in the last quarter. Finally, Lincoln Capital LLC grew its holdings in shares of Exxon Mobil by 1.1% in the 4th quarter. Lincoln Capital LLC now owns 8,521 shares of the oil and gas company's stock valued at $917,000 after buying an additional 94 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,100 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the transaction, the vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.03% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on XOM. TD Cowen dropped their price objective on Exxon Mobil from $132.00 to $128.00 and set a "buy" rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their price target on Exxon Mobil from $130.00 to $125.00 and set an "overweight" rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company decreased their price objective on Exxon Mobil from $136.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Barclays dropped their target price on shares of Exxon Mobil from $137.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Finally, Morgan Stanley increased their price objective on shares of Exxon Mobil from $139.00 to $140.00 in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $129.15.

Exxon Mobil Stock Performance

Shares of NYSE XOM traded up $0.81 during midday trading on Tuesday, hitting $116.61. 11,980,569 shares of the company's stock were exchanged, compared to its average volume of 16,231,948. Exxon Mobil Co. has a 12 month low of $103.67 and a 12 month high of $126.34. The company's 50 day moving average price is $110.22 and its 200 day moving average price is $113.58. 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 firm has a market capitalization of $505.99 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 3.02 and a beta of 0.83.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $2.48 earnings per share. As a group, analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil's payout ratio is 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.