Norway Savings Bank Sells 480 Shares of Exxon Mobil Co. (NYSE:XOM)

Norway Savings Bank lessened its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 1.6% in the first quarter, HoldingsChannel.com reports. The firm owned 29,519 shares of the oil and gas company’s stock after selling 480 shares during the period. Exxon Mobil comprises 1.4% of Norway Savings Bank’s holdings, making the stock its 19th largest position. Norway Savings Bank’s holdings in Exxon Mobil were worth $3,431,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Exxon Mobil by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after acquiring an additional 1,269,495 shares in the last quarter. Norges Bank bought a new position in shares of Exxon Mobil during the fourth quarter valued at about $5,519,753,000. Morgan Stanley boosted its holdings in Exxon Mobil by 2.0% during the third quarter. Morgan Stanley now owns 53,828,024 shares of the oil and gas company’s stock worth $6,329,099,000 after purchasing an additional 1,066,937 shares during the last quarter. Capital International Investors grew its position in Exxon Mobil by 22.8% in the 4th quarter. Capital International Investors now owns 21,988,523 shares of the oil and gas company’s stock worth $2,198,413,000 after purchasing an additional 4,084,458 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Exxon Mobil by 6.0% in the 4th quarter. Capital Research Global Investors now owns 18,388,299 shares of the oil and gas company’s stock valued at $1,838,462,000 after buying an additional 1,037,226 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. TD Cowen boosted their target price on Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Mizuho upped their price objective on Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Piper Sandler lifted their target price on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Wells Fargo & Company increased their price target 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. Finally, UBS Group lifted their price objective on shares of Exxon Mobil from $152.00 to $154.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus target price of $133.82.

Exxon Mobil Trading Up 0.2 %

Shares of XOM opened at $115.12 on Friday. Exxon Mobil Co. has a twelve month low of $95.77 and a twelve month high of $123.75. The stock has a market cap of $453.92 billion, a PE ratio of 14.11, a P/E/G 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. The business’s 50-day moving average price is $115.25 and its 200-day moving average price is $109.65.

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

Exxon Mobil Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,426 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the transaction, the vice president now owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company’s stock.

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.