Rakuten Investment Management Inc. Acquires New Stake in Exxon Mobil Corporation $XOM

Rakuten Investment Management Inc. acquired a new stake in Exxon Mobil Corporation (NYSE:XOM) during the third quarter, Holdings Channel reports. The fund acquired 164,611 shares of the oil and gas company’s stock, valued at approximately $18,560,000.

A number of other large investors have also modified their holdings of XOM. Maryland State Retirement & Pension System raised its holdings in Exxon Mobil by 2.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 215,892 shares of the oil and gas company’s stock valued at $24,342,000 after acquiring an additional 5,573 shares during the last quarter. Linscomb Wealth Inc. increased its stake in Exxon Mobil by 1.4% in the second quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock valued at $42,017,000 after purchasing an additional 5,527 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in Exxon Mobil by 3.3% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 306,658 shares of the oil and gas company’s stock worth $34,576,000 after buying an additional 9,831 shares during the period. Capital Counsel LLC NY boosted its stake in Exxon Mobil by 0.9% in the 2nd quarter. Capital Counsel LLC NY now owns 49,687 shares of the oil and gas company’s stock worth $5,356,000 after buying an additional 460 shares during the last quarter. Finally, OneAscent Wealth Management LLC grew its holdings in Exxon Mobil by 116.7% in the 2nd quarter. OneAscent Wealth Management LLC now owns 7,657 shares of the oil and gas company’s stock valued at $825,000 after buying an additional 4,123 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 3,000 shares of Exxon Mobil stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $117.19, for a total transaction of $351,570.00. Following the sale, the vice president owned 28,584 shares in the company, valued at $3,349,758.96. This trade represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on XOM shares. Jefferies Financial Group raised their target price on shares of Exxon Mobil from $146.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Piper Sandler decreased their price target on shares of Exxon Mobil from $144.00 to $142.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Wells Fargo & Company increased their target price on Exxon Mobil from $156.00 to $158.00 and gave the stock an “overweight” rating in a research report on Thursday, December 11th. Zacks Research cut Exxon Mobil from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Finally, Mizuho upped their price target on Exxon Mobil from $129.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $132.00.

Exxon Mobil Stock Up 2.4%

Shares of Exxon Mobil stock opened at $133.63 on Thursday. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $133.73. The stock has a market cap of $563.54 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 8.28 and a beta of 0.37. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $120.12 and a 200 day moving average price of $114.98.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.16. Exxon Mobil had a return on equity of 11.22% and a net margin of 8.99%.The company had revenue of $83.33 billion for the quarter, compared to analysts’ expectations of $83.09 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. Equities research analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were issued a $1.03 dividend. The ex-dividend date was Friday, November 14th. This represents a $4.12 dividend on an annualized basis and a yield of 3.1%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio (DPR) is currently 59.88%.

About Exxon Mobil

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.