Norges Bank Acquires New Position in Exxon Mobil Co. (NYSE:XOM)

Norges Bank purchased a new stake in Exxon Mobil Co. (NYSE:XOM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 64,485,795 shares of the oil and gas company’s stock, valued at approximately $6,936,737,000. Exxon Mobil accounts for about 0.9% of Norges Bank’s investment portfolio, making the stock its 12th largest holding. Norges Bank owned approximately 1.47% of Exxon Mobil at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rockline Wealth Management LLC grew its position in shares of Exxon Mobil by 6.1% during the 4th quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company’s stock valued at $2,788,000 after purchasing an additional 1,498 shares in the last quarter. Renasant Bank increased its position in shares of Exxon Mobil by 5.0% in the fourth quarter. Renasant Bank now owns 10,369 shares of the oil and gas company’s stock worth $1,115,000 after purchasing an additional 493 shares during the last quarter. Helen Stephens Group LLC raised its stake in Exxon Mobil by 7.3% in the fourth quarter. Helen Stephens Group LLC now owns 41,637 shares of the oil and gas company’s stock valued at $4,479,000 after purchasing an additional 2,825 shares in the last quarter. Hilltop Holdings Inc. lifted its position in Exxon Mobil by 41.3% during the third quarter. Hilltop Holdings Inc. now owns 76,288 shares of the oil and gas company’s stock valued at $8,942,000 after purchasing an additional 22,296 shares during the last quarter. Finally, Merewether Investment Management LP increased its holdings in shares of Exxon Mobil by 3.2% in the 3rd quarter. Merewether Investment Management LP now owns 307,243 shares of the oil and gas company’s stock worth $36,015,000 after buying an additional 9,600 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Up 1.3 %

NYSE XOM opened at $118.11 on Thursday. The stock’s fifty day moving average price is $110.49 and its 200-day moving average price is $113.64. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The stock has a market cap of $512.50 billion, a P/E ratio of 15.07, a P/E/G ratio of 3.02 and a beta of 0.83. Exxon Mobil Co. has a 12 month low of $103.67 and a 12 month high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data 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 net margin of 9.63% and a return on equity of 12.92%. During the same quarter in the previous year, the company earned $2.48 EPS. As a group, equities analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil’s payout ratio is 50.51%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays dropped their price target on Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Scotiabank reduced their price objective on Exxon Mobil from $145.00 to $140.00 in a research note on Friday, January 31st. Piper Sandler lowered their price target 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. UBS Group dropped their target price on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Truist Financial increased their price objective on Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a report on Monday, January 13th. One equities 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 company’s stock. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $129.15.

Insider Buying and Selling

In other Exxon Mobil 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 transaction of $231,000.00. Following the completion of the sale, the vice president now directly owns 18,087 shares in the company, valued at $1,989,570. The trade was a 10.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

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.