Sompo Asset Management Co. Ltd. Has $795,000 Stake in Exxon Mobil Co. (NYSE:XOM)

Sompo Asset Management Co. Ltd. raised its position in shares of Exxon Mobil Co. (NYSE:XOM) by 3.8% in the second quarter, Holdings Channel reports. The fund owned 6,910 shares of the oil and gas company’s stock after buying an additional 250 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Exxon Mobil were worth $795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new position in shares of Exxon Mobil during the first quarter worth approximately $25,000. Fairway Wealth LLC bought a new position in Exxon Mobil during the second quarter worth $35,000. Anfield Capital Management LLC boosted its holdings in Exxon Mobil by 360.0% in the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares during the period. POM Investment Strategies LLC grew its position in Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares during the last quarter. Finally, Lynx Investment Advisory bought a new position in shares of Exxon Mobil during the 2nd quarter worth about $47,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on XOM shares. Royal Bank of Canada restated a “sector perform” rating and set a $135.00 price target on shares of Exxon Mobil in a research note on Tuesday, July 9th. Morgan Stanley cut their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Sanford C. Bernstein decreased their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Truist Financial dropped their price objective on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.76.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $115.27 on Friday. The stock has a 50-day simple moving average of $115.88 and a 200 day simple moving average of $115.33. The stock has a market capitalization of $454.51 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 4.38 and a beta of 0.90. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13. Exxon Mobil Co. has a 12-month low of $95.77 and a 12-month high of $123.75.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. On average, research analysts anticipate that Exxon Mobil Co. will post 8.36 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $0.95 dividend. The ex-dividend date was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a yield of 3.30%. Exxon Mobil’s payout ratio is 46.57%.

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.