KLP Kapitalforvaltning AS Has $196.46 Million Stake in Exxon Mobil Corporation $XOM

Key Points

• KLP Kapitalforvaltning AS has increased its stake in Exxon Mobil to $196.46 million, representing a 9.8% increase in shares during the second quarter, making it the 16th largest position in their portfolio.
• Exxon Mobil's recent quarterly earnings showed EPS of $1.64, surpassing estimates, with revenue reported at $81.51 billion, although it was down 12.4% year-over-year.
• The company announced a quarterly dividend of $0.99, equating to an annualized dividend yield of 3.5%, with a payout ratio of 56.25%.

KLP Kapitalforvaltning AS lifted its position in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,822,436 shares of the oil and gas company's stock after acquiring an additional 162,000 shares during the quarter. Exxon Mobil makes up approximately 0.8% of KLP Kapitalforvaltning AS's portfolio, making the stock its 16th biggest position. KLP Kapitalforvaltning AS's holdings in Exxon Mobil were worth $196,459,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Graybill Wealth Management LTD. bought a new position in Exxon Mobil during the 1st quarter worth $29,000. Elequin Capital LP bought a new position in Exxon Mobil during the 1st quarter worth $31,000. Clal Insurance Enterprises Holdings Ltd raised its position in Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company's stock worth $35,000 after purchasing an additional 238 shares during the last quarter. Game Plan Financial Advisors LLC raised its position in Exxon Mobil by 1,500.0% during the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company's stock worth $38,000 after purchasing an additional 300 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new position in Exxon Mobil during the 2nd quarter worth $38,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total value of $238,351.10. Following the transaction, the vice president owned 13,829 shares in the company, valued at $1,527,413.05. The trade was a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by insiders.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $112.90 on Friday. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $124.26. The firm has a market capitalization of $481.32 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 2.06 and a beta of 0.51. The business has a 50-day simple moving average of $111.30 and a 200 day simple moving average of $109.52. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

Exxon Mobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. The firm had revenue of $81.51 billion during the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 EPS. On average, research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, August 15th. Exxon Mobil's payout ratio is presently 56.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on XOM shares. Wall Street Zen raised Exxon Mobil from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research report on Thursday. Bank of America raised their target price on Exxon Mobil from $113.00 to $120.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. TD Cowen lifted their price objective on Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday, June 23rd. Finally, Piper Sandler set a $141.00 price objective on Exxon Mobil in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Exxon Mobil has an average rating of "Moderate Buy" and a consensus target price of $125.95.

Exxon Mobil Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.