DnB Asset Management AS Increases Position in Exxon Mobil Co. (NYSE:XOM)

DnB Asset Management AS lifted its holdings in Exxon Mobil Co. (NYSE:XOM) by 0.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 764,157 shares of the oil and gas company’s stock after purchasing an additional 853 shares during the quarter. DnB Asset Management AS’s holdings in Exxon Mobil were worth $81,956,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Triasima Portfolio Management inc. boosted its position in shares of Exxon Mobil by 3.5% in the 1st quarter. Triasima Portfolio Management inc. now owns 4,563 shares of the oil and gas company’s stock worth $500,000 after purchasing an additional 153 shares in the last quarter. TIAA FSB boosted its position in shares of Exxon Mobil by 8.2% in the 1st quarter. TIAA FSB now owns 509,184 shares of the oil and gas company’s stock worth $55,837,000 after purchasing an additional 38,760 shares in the last quarter. Nvest Financial LLC boosted its position in shares of Exxon Mobil by 5.6% in the 1st quarter. Nvest Financial LLC now owns 3,651 shares of the oil and gas company’s stock worth $400,000 after purchasing an additional 194 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of Exxon Mobil by 4.9% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 21,302 shares of the oil and gas company’s stock worth $2,336,000 after purchasing an additional 1,003 shares in the last quarter. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Exxon Mobil by 0.5% in the 1st quarter. SeaCrest Wealth Management LLC now owns 62,414 shares of the oil and gas company’s stock worth $6,844,000 after purchasing an additional 329 shares in the last quarter. Institutional investors and hedge funds own 58.53% of the company’s stock.

Analysts Set New Price Targets

XOM has been the subject of a number of research reports. Piper Sandler lowered their price target on Exxon Mobil from $145.00 to $127.00 in a research report on Tuesday, June 13th. Morgan Stanley lifted their price target on Exxon Mobil from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, August 18th. StockNews.com initiated coverage on Exxon Mobil in a research report on Thursday, August 17th. They set a “hold” rating for the company. Wolfe Research cut Exxon Mobil from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. They noted that the move was a valuation call. Finally, Mizuho boosted their price objective on Exxon Mobil from $130.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, August 16th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus target price of $123.43.

Insider Activity at Exxon Mobil

In related news, Director Jeffrey W. Ubben purchased 458,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $106.93 per share, with a total value of $48,973,940.00. Following the completion of the acquisition, the director now owns 1,635,000 shares in the company, valued at $174,830,550. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Jeffrey W. Ubben purchased 458,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $106.93 per share, with a total value of $48,973,940.00. Following the completion of the acquisition, the director now owns 1,635,000 shares in the company, valued at $174,830,550. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Darrin L. Talley sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $115.00, for a total value of $172,500.00. Following the completion of the sale, the vice president now directly owns 27,772 shares of the company’s stock, valued at approximately $3,193,780. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $118.52 on Friday. The business has a 50 day simple moving average of $108.07 and a two-hundred day simple moving average of $108.40. Exxon Mobil Co. has a 12 month low of $83.89 and a 12 month high of $119.92. The stock has a market capitalization of $474.46 billion, a P/E ratio of 9.48, a PEG ratio of 0.61 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.09.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, July 28th. The oil and gas company reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.06). Exxon Mobil had a net margin of 13.72% and a return on equity of 25.82%. The firm had revenue of $82.91 billion for the quarter, compared to analyst estimates of $81.80 billion. During the same period in the previous year, the company earned $4.14 EPS. Exxon Mobil’s revenue was down 28.3% compared to the same quarter last year. As a group, analysts predict that Exxon Mobil Co. will post 8.94 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Wednesday, August 16th were issued a $0.91 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $3.64 annualized dividend and a dividend yield of 3.07%. Exxon Mobil’s dividend payout ratio is presently 29.12%.

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.