Novem Group Invests $1.40 Million in Exxon Mobil Co. (NYSE:XOM)

Novem Group bought a new stake in Exxon Mobil Co. (NYSE:XOM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,033 shares of the oil and gas company’s stock, valued at approximately $1,402,000.

Several other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in Exxon Mobil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after buying an additional 1,104,617 shares during the last quarter. Norges Bank purchased a new stake in shares of Exxon Mobil in the fourth quarter worth $6,936,737,000. Northern Trust Corp increased its holdings in shares of Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after acquiring an additional 5,538,694 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Exxon Mobil by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Trading Down 1.5%

NYSE:XOM opened at $104.87 on Wednesday. The firm has a market capitalization of $451.95 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 3.02 and a beta of 0.51. 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 fifty day moving average price of $108.85 and a 200-day moving average price of $110.67. Exxon Mobil Co. has a one year low of $97.80 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.73 by $0.03. The firm had revenue of $83.13 billion for the quarter, compared to the consensus estimate of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 earnings per share. Sell-side analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.78%. Exxon Mobil’s dividend payout ratio (DPR) is presently 52.52%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BMO Capital Markets cut their price objective on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada dropped their target price on shares of Exxon Mobil from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Monday, May 5th. Piper Sandler decreased their price objective on shares of Exxon Mobil from $127.00 to $125.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Mizuho lowered their price objective on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, UBS Group cut their target price on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.50.

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.