Nikko Asset Management Americas Inc. Raises Stock Position in Exxon Mobil Corporation $XOM

by · The Cerbat Gem

Nikko Asset Management Americas Inc. lifted its position in shares of Exxon Mobil Corporation (NYSE:XOM – Free Report) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,679 shares of the oil and gas company’s stock after acquiring an additional 7,680 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Exxon Mobil were worth $5,569,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Elequin Capital LP purchased a new position in shares of Exxon Mobil in the first quarter valued at $31,000. Game Plan Financial Advisors LLC grew its stake in Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 300 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Exxon Mobil during the 2nd quarter valued at about $38,000. Bare Financial Services Inc raised its position in Exxon Mobil by 121.8% during the second quarter. Bare Financial Services Inc now owns 366 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 201 shares during the last quarter. Finally, 1248 Management LLC purchased a new stake in shares of Exxon Mobil in the first quarter valued at about $40,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on XOM shares. UBS Group reissued a “buy” rating on shares of Exxon Mobil in a research note on Tuesday. Bank of America dropped their price target on Exxon Mobil from $119.00 to $118.00 and set a “neutral” rating for the company in a research report on Thursday. Melius began coverage on Exxon Mobil in a report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target for the company. Mizuho increased their price objective on Exxon Mobil from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Piper Sandler boosted their target price on shares of Exxon Mobil from $141.00 to $144.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.24.

Check Out Our Latest Stock Report on Exxon Mobil

Exxon Mobil Stock Performance

Exxon Mobil stock opened at $118.77 on Friday. The stock has a fifty day moving average price of $115.60 and a 200 day moving average price of $112.22. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $120.81. The firm has a market capitalization of $500.88 billion, a P/E ratio of 17.26, a PEG ratio of 1.50 and a beta of 0.38. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12.

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. Exxon Mobil had a net margin of 8.99% and a return on equity of 11.22%. The business had revenue of $57.55 billion for the quarter. Equities research analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $4.12 annualized dividend and a dividend yield of 3.5%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio is presently 59.88%.

About Exxon Mobil

(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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