DnB Asset Management AS Sells 4,256 Shares of Exxon Mobil Co. (NYSE:XOM)

DnB Asset Management AS decreased its position in Exxon Mobil Co. (NYSE:XOM – Free Report) by 0.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 763,304 shares of the oil and gas company’s stock after selling 4,256 shares during the quarter. DnB Asset Management AS’s holdings in Exxon Mobil were worth $83,704,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Dark Forest Capital Management LP bought a new position in Exxon Mobil during the fourth quarter worth $27,000. Corrado Advisors LLC bought a new position in Exxon Mobil during the fourth quarter worth $28,000. Koesten Hirschmann & Crabtree INC. bought a new position in Exxon Mobil during the fourth quarter worth $36,000. Align Wealth Management LLC acquired a new stake in Exxon Mobil during the fourth quarter worth $38,000. Finally, Financial Connections Group Inc. boosted its stake in Exxon Mobil by 1,207.1% during the fourth quarter. Financial Connections Group Inc. now owns 366 shares of the oil and gas company’s stock worth $40,000 after buying an additional 338 shares in the last quarter. Institutional investors own 58.59% of the company’s stock.

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Exxon Mobil Stock Performance

Exxon Mobil stock opened at $102.94 on Friday. The stock has a market capitalization of $416.19 billion, a price-to-earnings ratio of 6.97, a P/E/G ratio of 0.64 and a beta of 1.08. Exxon Mobil Co. has a 12-month low of $80.69 and a 12-month high of $119.92. The company has a quick ratio of 1.10, a current ratio of 1.46 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $106.26 and a 200 day simple moving average of $109.64.

Exxon Mobil (NYSE:XOM – Free Report) last announced its quarterly earnings data on Friday, April 28th. The oil and gas company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.18. The firm had revenue of $86.56 billion during the quarter, compared to analysts’ expectations of $90.07 billion. Exxon Mobil had a return on equity of 31.48% and a net margin of 15.06%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.07 EPS. On average, research analysts anticipate that Exxon Mobil Co. will post 9.46 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Tuesday, May 16th were issued a dividend of $0.91 per share. The ex-dividend date was Monday, May 15th. This represents a $3.64 annualized dividend and a yield of 3.54%. Exxon Mobil’s dividend payout ratio is currently 24.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada downgraded shares of Exxon Mobil from an “outperform” rating to a “sector perform” rating and set a $125.00 price target on the stock. in a research note on Thursday, June 1st. Scotiabank downgraded shares of Exxon Mobil from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $140.00 to $135.00 in a research note on Thursday, April 13th. Morgan Stanley lifted their price target on shares of Exxon Mobil from $118.00 to $122.00 in a research note on Tuesday, May 2nd. StockNews.com began coverage on shares of Exxon Mobil in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, UBS Group upgraded shares of Exxon Mobil from a “neutral” rating to a “buy” rating and boosted their target price for the company from $125.00 to $144.00 in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $124.70.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,500 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $116.11, for a total transaction of $290,275.00. Following the completion of the sale, the vice president now directly owns 29,272 shares of the company’s stock, valued at approximately $3,398,771.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Exxon Mobil Company Profile

(Free Report)

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.

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