Norges Bank Invests $6.16 Billion in Exxon Mobil Corporation $XOM

Norges Bank purchased a new stake in shares of Exxon Mobil Corporation (NYSE:XOM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 57,177,358 shares of the oil and gas company’s stock, valued at approximately $6,163,719,000. Exxon Mobil accounts for approximately 0.8% of Norges Bank’s portfolio, making the stock its 15th biggest holding. Norges Bank owned about 1.34% of Exxon Mobil as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of XOM. Linscomb Wealth Inc. raised its stake in Exxon Mobil by 1.4% during the 2nd quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock valued at $42,017,000 after purchasing an additional 5,527 shares during the period. Jones Financial Companies Lllp lifted its stake in Exxon Mobil by 52.3% in the first quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after acquiring an additional 131,600 shares during the last quarter. OneAscent Wealth Management LLC increased its stake in shares of Exxon Mobil by 116.7% during the 2nd quarter. OneAscent Wealth Management LLC now owns 7,657 shares of the oil and gas company’s stock worth $825,000 after purchasing an additional 4,123 shares during the last quarter. Wealth Management Associates Inc. raised its holdings in Exxon Mobil by 2.7% during the first quarter. Wealth Management Associates Inc. now owns 26,461 shares of the oil and gas company’s stock valued at $3,147,000 after buying an additional 691 shares in the last quarter. Finally, American Trust raised its stake in shares of Exxon Mobil by 14.3% in the 1st quarter. American Trust now owns 4,766 shares of the oil and gas company’s stock valued at $567,000 after acquiring an additional 596 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on XOM. Piper Sandler lifted their price target on Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Exxon Mobil in a research note on Tuesday. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. UBS Group raised their price target on shares of Exxon Mobil from $143.00 to $145.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Morgan Stanley upped their price objective on shares of Exxon Mobil from $134.00 to $135.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $128.67.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $114.93 on Friday. The firm has a market cap of $484.67 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49. The firm’s 50-day simple moving average is $114.78 and its 200-day simple moving average is $111.30. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $120.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $57.55 billion during the quarter. As a group, research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is presently 59.88%.

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.