Norway Savings Bank Trims Holdings in Exxon Mobil Co. (NYSE:XOM)

Norway Savings Bank trimmed its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,594 shares of the oil and gas company’s stock after selling 388 shares during the quarter. Exxon Mobil makes up 1.7% of Norway Savings Bank’s portfolio, making the stock its 19th biggest position. Norway Savings Bank’s holdings in Exxon Mobil were worth $3,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in Exxon Mobil by 0.3% in the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after buying an additional 395,218 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Exxon Mobil by 1.8% during the third quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock worth $10,777,735,000 after buying an additional 1,622,064 shares during the period. Dimensional Fund Advisors LP grew its holdings in Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after buying an additional 5,330,887 shares in the last quarter. Legal & General Group Plc increased its position in Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after acquiring an additional 5,235,607 shares during the period. Finally, Franklin Resources Inc. boosted its position in Exxon Mobil by 16.3% during the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock worth $3,936,929,000 after acquiring an additional 4,415,012 shares during the period. Institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on XOM. BMO Capital Markets raised their price target on Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Wolfe Research lifted their target price on Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Finally, Piper Sandler reduced their price objective on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and an average price target of $128.74.

Exxon Mobil Price Performance

NYSE:XOM traded up $1.01 during mid-day trading on Tuesday, reaching $108.75. The stock had a trading volume of 7,253,813 shares, compared to its average volume of 12,341,527. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The stock has a market capitalization of $477.97 billion, a PE ratio of 13.54, a P/E/G ratio of 4.65 and a beta of 0.91. The stock has a 50-day simple moving average of $114.23 and a two-hundred day simple moving average of $115.83.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.27 earnings per share. On average, equities analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.64%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is presently 49.32%.

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.