Norway Savings Bank Has $3.43 Million Stake in Exxon Mobil Co. (NYSE:XOM)

Norway Savings Bank lowered its holdings in Exxon Mobil Co. (NYSE:XOM) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,519 shares of the oil and gas company’s stock after selling 480 shares during the quarter. Exxon Mobil comprises about 1.4% of Norway Savings Bank’s investment portfolio, making the stock its 19th largest position. Norway Savings Bank’s holdings in Exxon Mobil were worth $3,431,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in XOM. Norges Bank acquired a new position in Exxon Mobil during the 4th quarter worth $5,519,753,000. Global Assets Advisory LLC increased its position in Exxon Mobil by 16,399.4% in the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after purchasing an additional 12,540,435 shares during the period. Fisher Asset Management LLC raised its holdings in Exxon Mobil by 566.2% during the 4th quarter. Fisher Asset Management LLC now owns 13,197,713 shares of the oil and gas company’s stock worth $1,319,507,000 after purchasing an additional 11,216,602 shares during the last quarter. International Assets Investment Management LLC lifted its position in Exxon Mobil by 10,221.0% during the 4th quarter. International Assets Investment Management LLC now owns 4,917,763 shares of the oil and gas company’s stock valued at $491,678,000 after purchasing an additional 4,870,115 shares during the period. Finally, Capital International Investors boosted its stake in Exxon Mobil by 22.8% in the fourth quarter. Capital International Investors now owns 21,988,523 shares of the oil and gas company’s stock valued at $2,198,413,000 after acquiring an additional 4,084,458 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Insider Activity

In related news, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $119.01, for a total value of $288,718.26. Following the transaction, the vice president now owns 25,363 shares in the company, valued at approximately $3,018,450.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on XOM. TD Cowen boosted their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Wells Fargo & Company upped their price objective on shares of Exxon Mobil from $138.00 to $142.00 and gave the company an “overweight” rating in a research report on Tuesday, April 30th. Piper Sandler lifted their target price on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Scotiabank raised their price target on Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, UBS Group boosted their price objective on Exxon Mobil from $152.00 to $154.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and an average target price of $133.82.

Exxon Mobil Stock Up 0.2 %

NYSE:XOM opened at $115.12 on Friday. The firm has a market capitalization of $453.92 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 4.13 and a beta of 0.92. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75. The stock’s 50 day moving average price is $115.25 and its two-hundred day moving average price is $109.65.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The firm had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.83 EPS. Equities research analysts expect that Exxon Mobil Co. will post 9.28 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were paid a $0.95 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 annualized dividend and a yield of 3.30%. Exxon Mobil’s dividend payout ratio is 46.57%.

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.