KLP Kapitalforvaltning AS Buys New Shares in Exxon Mobil Co. (NYSE:XOM)

KLP Kapitalforvaltning AS bought a new stake in Exxon Mobil Co. (NYSE:XOM) in the fourth quarter, HoldingsChannel reports. The fund bought 1,649,436 shares of the oil and gas company’s stock, valued at approximately $177,430,000. Exxon Mobil accounts for approximately 0.8% of KLP Kapitalforvaltning AS’s investment portfolio, making the stock its 15th biggest position.

A number of other hedge funds have also added to or reduced their stakes in XOM. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Exxon Mobil by 0.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 246,449 shares of the oil and gas company’s stock worth $26,511,000 after buying an additional 2,208 shares during the period. Umpqua Bank boosted its holdings in shares of Exxon Mobil by 12.9% during the 4th quarter. Umpqua Bank now owns 10,288 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 1,179 shares during the period. Sfmg LLC boosted its holdings in shares of Exxon Mobil by 11.0% during the 4th quarter. Sfmg LLC now owns 20,938 shares of the oil and gas company’s stock worth $2,252,000 after buying an additional 2,082 shares during the period. Intellus Advisors LLC bought a new stake in shares of Exxon Mobil during the 4th quarter worth about $3,135,000. Finally, Forefront Wealth Management Inc. bought a new stake in shares of Exxon Mobil during the 4th quarter worth about $401,000. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $115.30 on Friday. The company has a market cap of $500.29 billion, a P/E ratio of 14.71, a P/E/G ratio of 3.02 and a beta of 0.83. The firm has a 50-day moving average of $110.09 and a 200-day moving average of $113.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 0.97. Exxon Mobil Co. has a one year low of $103.67 and a one year high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same quarter in the prior year, the business posted $2.48 EPS. Equities research analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.99 per share. The ex-dividend date was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.43%. Exxon Mobil’s dividend payout ratio is presently 50.51%.

Insiders Place Their Bets

In other news, VP Darrin L. Talley sold 2,100 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 18,087 shares in the company, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on XOM shares. HSBC reduced their target price on shares of Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. The Goldman Sachs Group dropped their price objective on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 target price on shares of Exxon Mobil in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.15.

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.