Norden Group LLC Boosts Position in Exxon Mobil Co. (NYSE:XOM)

Norden Group LLC increased its stake in Exxon Mobil Co. (NYSE:XOM) by 3,409.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 504,773 shares of the oil and gas company’s stock after buying an additional 490,391 shares during the period. Exxon Mobil accounts for about 0.6% of Norden Group LLC’s portfolio, making the stock its 26th largest position. Norden Group LLC’s holdings in Exxon Mobil were worth $58,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in Exxon Mobil in the 4th quarter worth about $46,000. Vima LLC bought a new position in Exxon Mobil during the 4th quarter worth about $50,000. Keener Financial Planning LLC bought a new position in Exxon Mobil during the 4th quarter worth about $80,000. Neo Ivy Capital Management bought a new position in Exxon Mobil during the 4th quarter worth about $80,000. Finally, Redmont Wealth Advisors LLC bought a new position in Exxon Mobil during the 1st quarter worth about $88,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,426 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were 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 directly owns 25,363 shares of the company’s stock, valued at approximately $3,018,450.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by insiders.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $114.76 on Friday. The firm has a market capitalization of $452.50 billion, a P/E ratio of 14.06, a PEG ratio of 4.15 and a beta of 0.91. 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 company has a 50 day moving average price of $114.88 and a 200 day moving average price of $109.95. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $123.75.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). The company had revenue of $83.08 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.83 earnings per share. Sell-side analysts expect that Exxon Mobil Co. will post 9.23 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Tuesday, May 14th. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on XOM. Mizuho increased their target price on shares of Exxon Mobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, May 13th. UBS Group increased their target price on shares of Exxon Mobil from $152.00 to $154.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Scotiabank increased their target price on shares of Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a report on Thursday, April 11th. Barclays assumed coverage on shares of Exxon Mobil in a report on Wednesday, April 10th. They set an “overweight” rating and a $147.00 target price on the stock. Finally, Piper Sandler raised their price target on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.82.

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.