Norges Bank Purchases Shares of 64,485,795 Exxon Mobil Co. (NYSE:XOM)

Norges Bank acquired a new position in Exxon Mobil Co. (NYSE:XOM) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 64,485,795 shares of the oil and gas company’s stock, valued at approximately $6,936,737,000. Exxon Mobil accounts for approximately 0.9% of Norges Bank’s investment portfolio, making the stock its 12th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of XOM. Fairway Wealth LLC bought a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $31,000. Keystone Financial Group Inc. bought a new position in shares of Exxon Mobil during the 4th quarter valued at about $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Exxon Mobil during the fourth quarter valued at about $46,000. Compass Planning Associates Inc bought a new stake in shares of Exxon Mobil in the fourth quarter worth about $47,000. Finally, Synergy Investment Management LLC bought a new position in Exxon Mobil during the fourth quarter valued at approximately $47,000. 61.80% of the stock is currently owned by institutional investors.

Insider Transactions at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,100 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the sale, the vice president now owns 18,087 shares in the company, valued at approximately $1,989,570. This represents a 10.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Up 1.3 %

Exxon Mobil stock opened at $118.11 on Thursday. Exxon Mobil Co. has a 12 month low of $103.67 and a 12 month high of $126.34. The stock has a market capitalization of $512.50 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 3.02 and a beta of 0.83. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. The business has a 50 day simple moving average of $110.49 and a 200-day simple moving average of $113.64.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same quarter in the previous year, the firm posted $2.48 EPS. On average, analysts anticipate that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were issued a $0.99 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.35%. Exxon Mobil’s payout ratio is currently 50.51%.

Analyst Ratings Changes

Several brokerages have recently issued reports on XOM. The Goldman Sachs Group decreased their price objective on Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Piper Sandler lowered their price objective on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. UBS Group reduced their target price on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 target price on shares of Exxon Mobil in a research report on Monday, February 3rd. Finally, Argus upgraded Exxon Mobil to a “strong-buy” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.15.

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.