Sumitomo Life Insurance Co. Lowers Stake in Exxon Mobil Corporation (NYSE:XOM)

Sumitomo Life Insurance Co. lowered its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 1.5% in the first quarter, Holdings Channel reports. The institutional investor owned 38,509 shares of the oil and gas company’s stock after selling 600 shares during the period. Sumitomo Life Insurance Co.’s holdings in Exxon Mobil were worth $4,580,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Quantinno Capital Management LP lifted its holdings in shares of Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company’s stock valued at $61,332,000 after purchasing an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Exxon Mobil during the 4th quarter valued at $55,000. Legacy Trust lifted its holdings in shares of Exxon Mobil by 12.7% during the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock valued at $1,054,000 after purchasing an additional 997 shares during the last quarter. Paradigm Capital Management LLC NV lifted its holdings in shares of Exxon Mobil by 1.6% during the 4th quarter. Paradigm Capital Management LLC NV now owns 14,244 shares of the oil and gas company’s stock valued at $1,532,000 after purchasing an additional 227 shares during the last quarter. Finally, SteelPeak Wealth LLC lifted its holdings in shares of Exxon Mobil by 24.2% during the 1st quarter. SteelPeak Wealth LLC now owns 38,721 shares of the oil and gas company’s stock valued at $4,605,000 after purchasing an additional 7,543 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the company an “overweight” rating in a report on Thursday, June 26th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. Scotiabank reissued an “outperform” rating on shares of Exxon Mobil in a research report on Friday. Finally, Morgan Stanley cut their target price on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.05.

Exxon Mobil Trading Down 1.2%

XOM stock opened at $114.05 on Tuesday. The company’s 50-day simple moving average is $108.23 and its 200-day simple moving average is $108.86. The company has a quick ratio of 0.90, a current ratio of 1.24 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 52-week low of $97.80 and a 52-week high of $126.34. The firm has a market cap of $491.52 billion, a P/E ratio of 15.13, a PEG ratio of 2.21 and a beta of 0.50.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The business had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. During the same period in the prior year, the company posted $2.06 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, May 15th. Exxon Mobil’s dividend payout ratio is presently 52.52%.

Exxon Mobil Company Profile

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.