Resona Asset Management Co. Ltd. Grows Stake in Exxon Mobil Corporation $XOM

Resona Asset Management Co. Ltd. grew its position in shares of Exxon Mobil Corporation (NYSE:XOM) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,526,175 shares of the oil and gas company’s stock after purchasing an additional 81,855 shares during the period. Exxon Mobil makes up 0.8% of Resona Asset Management Co. Ltd.’s portfolio, making the stock its 16th biggest holding. Resona Asset Management Co. Ltd.’s holdings in Exxon Mobil were worth $164,892,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in shares of Exxon Mobil by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company’s stock valued at $5,023,298,000 after purchasing an additional 1,274,860 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Exxon Mobil by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock worth $3,850,167,000 after acquiring an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. grew its position in Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock worth $3,213,848,000 after acquiring an additional 2,639,797 shares in the last quarter. Amundi grew its position in Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock worth $2,966,598,000 after acquiring an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock worth $3,028,968,000 after acquiring an additional 909,386 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on XOM shares. Bank of America upped their target price on shares of Exxon Mobil from $113.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Morgan Stanley upped their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Wells Fargo & Company started coverage on shares of Exxon Mobil in a research report on Friday, October 17th. They issued an “overweight” rating and a $156.00 target price for the company. Finally, Mizuho cut their target price on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.50.

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $113.73 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.25 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $484.86 billion, a PE ratio of 16.15, a P/E/G ratio of 2.06 and a beta of 0.49. The firm has a fifty day simple moving average of $113.37 and a two-hundred day simple moving average of $110.16. Exxon Mobil Corporation has a twelve month low of $97.80 and a twelve month high of $123.21.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. The business had revenue of $57.55 billion during the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. Research analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.6%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend is Friday, November 14th. Exxon Mobil’s payout ratio is currently 59.88%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the transaction, the vice president directly owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.03% of the company’s stock.

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.