Norway Savings Bank Has $3.40 Million Stock Position in Exxon Mobil Co. (NYSE:XOM)

Norway Savings Bank lowered its position in shares of Exxon Mobil Co. (NYSE:XOM) by 4.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,982 shares of the oil and gas company’s stock after selling 1,194 shares during the quarter. Exxon Mobil makes up approximately 1.8% of Norway Savings Bank’s holdings, making the stock its 17th biggest holding. Norway Savings Bank’s holdings in Exxon Mobil were worth $3,397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in XOM. Massachusetts Financial Services Co. MA increased its position in Exxon Mobil by 532.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after acquiring an additional 14,158,054 shares in the last quarter. Global Assets Advisory LLC grew its holdings in Exxon Mobil by 16,399.4% during the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after purchasing an additional 12,540,435 shares during the period. Primecap Management Co. CA acquired a new position in shares of Exxon Mobil in the second quarter valued at approximately $980,210,000. Capital International Investors boosted its holdings in shares of Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on XOM shares. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a research report on Tuesday, October 8th. Barclays dropped their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Wells Fargo & Company upped their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, Wolfe Research began coverage on shares of Exxon Mobil in a research note on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.88.

Exxon Mobil Trading Down 2.2 %

Exxon Mobil stock traded down $2.70 during mid-day trading on Tuesday, hitting $121.38. 6,157,751 shares of the stock were exchanged, compared to its average volume of 16,649,789. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $126.34. The firm’s fifty day simple moving average is $117.09 and its two-hundred day simple moving average is $116.40. The stock has a market capitalization of $478.60 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 5.02 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The business had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same quarter last year, the firm posted $1.94 EPS. Exxon Mobil’s revenue was up 12.2% compared to the same quarter last year. Analysts forecast that Exxon Mobil Co. will post 8.11 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is 46.57%.

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.