Rakuten Investment Management Inc. Grows Position in ExxonMobil Corporation $XOM

Rakuten Investment Management Inc. grew its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 238.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 556,719 shares of the oil and gas company’s stock after buying an additional 392,108 shares during the period. ExxonMobil accounts for 0.2% of Rakuten Investment Management Inc.’s investment portfolio, making the stock its 27th biggest position. Rakuten Investment Management Inc.’s holdings in ExxonMobil were worth $67,101,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of XOM. Norges Bank purchased a new position in ExxonMobil during the fourth quarter worth $7,625,063,000. Franklin Resources Inc. increased its position in ExxonMobil by 7.4% during the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after buying an additional 2,660,910 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in ExxonMobil by 218.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock worth $155,696,000 after buying an additional 2,546,791 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in ExxonMobil by 18.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock worth $1,925,119,000 after buying an additional 2,465,410 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in ExxonMobil by 334.4% during the fourth quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company’s stock worth $368,541,000 after buying an additional 2,357,467 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on XOM shares. Bank of America raised ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price objective for the company in a research report on Tuesday. Zacks Research downgraded ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Scotiabank lifted their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Wolfe Research downgraded ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of ExxonMobil in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $165.70.

ExxonMobil Price Performance

Shares of ExxonMobil stock opened at $141.64 on Wednesday. ExxonMobil Corporation has a twelve month low of $105.53 and a twelve month high of $176.41. The stock has a market capitalization of $587.08 billion, a P/E ratio of 23.88, a PEG ratio of 0.60 and a beta of 0.16. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average price is $151.31 and its 200 day moving average price is $142.92.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued 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 dividend payout ratio (DPR) is presently 69.48%.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil from neutral to buy and set a $154 price target, saying the shares look undervalued after the recent pullback. Benzinga
• Positive Sentiment: Exxon filed for a 35-well exploration campaign in Guyana’s Stabroek block, reinforcing growth potential in one of its most important long-term assets. Article Title
• Neutral Sentiment: Analysts and media reports continue to highlight Exxon as a possible acquisition player, including speculation around Woodside Energy, but nothing has been confirmed. Article Title
• Neutral Sentiment: Broader energy stocks are weaker pre-market, which adds sector-wide pressure on XOM even as the stock draws positive analyst commentary. Article Title
• Negative Sentiment: Lower crude prices are the main headwind, since a sustained move below $80 could reduce ExxonMobil’s earnings power and slow investor enthusiasm for its upstream growth story. Article Title

ExxonMobil Company Profile

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.