Bank of Nova Scotia Buys 44,300 Shares of Exxon Mobil Co. (NYSE:XOM)

Bank of Nova Scotia raised its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 982,295 shares of the oil and gas company’s stock after purchasing an additional 44,300 shares during the period. Bank of Nova Scotia’s holdings in Exxon Mobil were worth $105,669,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Shelton Capital Management grew its position in shares of Exxon Mobil by 6.9% in the 4th quarter. Shelton Capital Management now owns 272,477 shares of the oil and gas company’s stock worth $29,310,000 after buying an additional 17,640 shares during the period. Elgethun Capital Management boosted its holdings in shares of Exxon Mobil by 6.1% during the 4th quarter. Elgethun Capital Management now owns 8,793 shares of the oil and gas company’s stock valued at $946,000 after acquiring an additional 503 shares during the last quarter. Rathbones Group PLC lifted its position in Exxon Mobil by 6.2% during the fourth quarter. Rathbones Group PLC now owns 328,287 shares of the oil and gas company’s stock valued at $35,314,000 after purchasing an additional 19,093 shares during the period. U S Wealth Group LLC. bought a new stake in Exxon Mobil in the 4th quarter worth approximately $2,556,000. Finally, Twin Capital Management Inc. lifted its holdings in shares of Exxon Mobil by 3.6% during the 4th quarter. Twin Capital Management Inc. now owns 64,878 shares of the oil and gas company’s stock valued at $6,979,000 after buying an additional 2,251 shares during the period. Institutional investors own 61.80% of the company’s stock.

Insiders Place Their Bets

In other Exxon Mobil news, VP Darrin L. Talley sold 2,100 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the transaction, the vice president now owns 18,087 shares in the company, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.03% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 target price on shares of Exxon Mobil in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their target price on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Piper Sandler lowered their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Morgan Stanley dropped their price target on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Argus upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $128.20.

Exxon Mobil Price Performance

Shares of XOM stock opened at $102.64 on Tuesday. The firm has a market capitalization of $445.38 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 3.02 and a beta of 0.61. Exxon Mobil Co. has a fifty-two week low of $98.46 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The stock’s 50-day simple moving average is $111.01 and its 200-day simple moving average is $113.71.

Exxon Mobil (NYSE:XOM) last posted its 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 previous year, the business earned $2.48 EPS. As a group, equities analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 12th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s payout ratio is 50.51%.

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.