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

Novem Group purchased a new stake in Exxon Mobil Co. (NYSE:XOM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 13,033 shares of the oil and gas company’s stock, valued at approximately $1,402,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. 10Elms LLP purchased a new stake in shares of Exxon Mobil in the fourth quarter worth about $25,000. Fairway Wealth LLC bought a new stake in Exxon Mobil in the 4th quarter worth approximately $31,000. Keystone Financial Group Inc. purchased a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $36,000. Compass Planning Associates Inc purchased a new stake in shares of Exxon Mobil during the 4th quarter worth approximately $47,000. Finally, Clarity Asset Management Inc. grew its holdings in shares of Exxon Mobil by 29.7% in the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 100 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on XOM. Royal Bank of Canada reduced their price target on shares of Exxon Mobil from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Monday, May 5th. The Goldman Sachs Group decreased their target price on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Mizuho lowered their price target on shares of Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Argus raised Exxon Mobil to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler lowered their price objective on Exxon Mobil from $127.00 to $125.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average price target of $125.50.

Exxon Mobil Price Performance

XOM opened at $104.87 on Wednesday. The company has a market capitalization of $451.95 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 3.02 and a beta of 0.51. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. Exxon Mobil Co. has a 12-month low of $97.80 and a 12-month high of $126.34. The business’s fifty day simple moving average is $108.85 and its 200-day simple moving average is $110.67.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. The company had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. During the same period in the prior year, the business earned $2.06 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts anticipate that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.78%. Exxon Mobil’s dividend payout ratio is currently 52.52%.

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.