Resona Asset Management Co. Ltd. Acquires 9,381 Shares of ExxonMobil Corporation $XOM

Resona Asset Management Co. Ltd. grew its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,388,031 shares of the oil and gas company’s stock after purchasing an additional 9,381 shares during the quarter. ExxonMobil makes up 1.2% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 13th largest holding. Resona Asset Management Co. Ltd.’s holdings in ExxonMobil were worth $235,954,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in XOM. Capital Investment Advisors LLC lifted its position in shares of ExxonMobil by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock worth $27,857,000 after acquiring an additional 14,233 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of ExxonMobil by 2.3% in the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock valued at $126,166,000 after purchasing an additional 23,668 shares in the last quarter. Clear Trail Advisors LLC purchased a new position in shares of ExxonMobil in the fourth quarter valued at $28,728,000. CIBC Bancorp USA Inc. bought a new stake in shares of ExxonMobil during the 3rd quarter valued at $67,907,000. Finally, King Luther Capital Management Corp lifted its holdings in ExxonMobil by 2.4% during the 4th quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock worth $200,366,000 after purchasing an additional 38,492 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on XOM. Citigroup restated a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. UBS Group raised their price objective on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Barclays upped their target price on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.45.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Escalating U.S.-Iran conflict and new measures affecting the Strait of Hormuz are lifting oil prices and improving the outlook for ExxonMobil’s upstream and refining businesses. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: Broader energy market strength is supporting XOM, with reports that oil is nearing $80 a barrel as investors price in higher supply risk from the Middle East conflict. BATL, TPET, WTI, XOM, USO Stocks Climb Amid Escalating US-Iran Conflict: Oil Nears $80 A Barrel
• Positive Sentiment: One market note says energy profits may remain attractive in the near term, keeping investor interest focused on oil names like ExxonMobil. Why ExxonMobil (XOM) stock is up today
• Neutral Sentiment: A separate market wrap showed U.S. stocks closing lower overall, reflecting risk-off sentiment tied partly to the same Iran-related tensions, though this was a broad market move rather than Exxon-specific news. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

ExxonMobil Price Performance

Shares of NYSE:XOM opened at $144.34 on Tuesday. The company’s fifty day moving average price is $146.01 and its 200-day moving average price is $145.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The firm has a market capitalization of $598.29 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 0.56 and a beta of 0.17. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the previous year, the firm posted $1.76 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that ExxonMobil Corporation will post 11.69 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. ExxonMobil’s payout ratio is presently 69.48%.

About ExxonMobil

ExxonMobil 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.