Sumitomo Life Insurance Co. Decreases Stake in Exxon Mobil Corporation $XOM

by · The Cerbat Gem

Sumitomo Life Insurance Co. lessened its stake in Exxon Mobil Corporation (NYSE:XOM – Free Report) by 5.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 36,254 shares of the oil and gas company’s stock after selling 2,255 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Exxon Mobil were worth $3,908,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in XOM. Graybill Wealth Management LTD. purchased a new stake in Exxon Mobil during the first quarter worth approximately $29,000. Elequin Capital LP purchased a new stake in Exxon Mobil during the first quarter worth approximately $31,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in Exxon Mobil by 396.7% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after purchasing an additional 238 shares during the last quarter. Game Plan Financial Advisors LLC lifted its stake in Exxon Mobil by 1,500.0% during the first quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 300 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Exxon Mobil during the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.45, for a total transaction of $238,351.10. Following the transaction, the vice president owned 13,829 shares of the company’s stock, valued at $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 available at this link. 0.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on XOM. Morgan Stanley boosted their target price on Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. UBS Group boosted their target price on Exxon Mobil from $143.00 to $145.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Piper Sandler set a $141.00 target price on Exxon Mobil in a research note on Tuesday, October 7th. Wells Fargo & Company initiated coverage on Exxon Mobil in a research note on Friday, October 17th. They issued an “overweight” rating and a $156.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.00.

Get Our Latest Stock Report on XOM

Exxon Mobil Trading Down 0.2%

NYSE:XOM opened at $114.52 on Friday. The firm has a market cap of $488.21 billion, a P/E ratio of 16.27, a PEG ratio of 2.06 and a beta of 0.51. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $113.26 and its 200-day simple moving average is $109.99. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21.

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

Exxon Mobil Company Profile

(Free Report)

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.

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