Hikari Power Ltd Makes New Investment in ExxonMobil Corporation $XOM

Key Points

• Hikari Power Ltd. bought 252,500 ExxonMobil shares worth approximately $34.5 million in the second quarter, making XOM its fifth-largest portfolio holding at 4%.
• ExxonMobil reported quarterly EPS of $3.52, slightly below the $3.56 consensus estimate, while revenue of $114.53 billion exceeded expectations. Analysts currently have a consensus “Hold” rating and an average price target of $163.29.
• The company declared a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 2.6% yield; institutional investors and hedge funds own 61.8% of ExxonMobil’s stock.

Hikari Power Ltd purchased a new stake in ExxonMobil Corporation (NYSE:XOM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 252,500 shares of the oil and gas company's stock, valued at approximately $34,522,000. ExxonMobil accounts for approximately 4.0% of Hikari Power Ltd's portfolio, making the stock its 5th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Berbice Capital Management LLC purchased a new position in ExxonMobil during the fourth quarter worth approximately $26,000. Midwest Capital Advisors LLC purchased a new position in shares of ExxonMobil during the 4th quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. grew its stake in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 187 shares during the period. Aventus Investment Advisors Inc. purchased a new stake in ExxonMobil in the 2nd quarter worth $27,000. Finally, Key Capital Management INC purchased a new position in ExxonMobil during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil Stock Down 0.0%

ExxonMobil stock opened at $160.08 on Monday. The company has a market capitalization of $663.52 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 0.63 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. ExxonMobil Corporation has a fifty-two week low of $105.67 and a fifty-two week high of $176.41. The firm has a 50 day moving average price of $147.00 and a 200 day moving average price of $150.56.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts' consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The firm had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. During the same quarter last year, the company earned $1.64 earnings per share. Research analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil's dividend payout ratio (DPR) is 53.02%.

Analysts Set New Price Targets

Several research firms recently issued reports on XOM. Barclays lifted their price objective on ExxonMobil from $163.00 to $182.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Scotiabank raised their target price on ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein reduced their price objective on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research note on Monday, May 11th. TD Cowen increased their target price on shares of ExxonMobil from $155.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $182.00 price target on shares of ExxonMobil in a research report on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, ExxonMobil has a consensus rating of "Hold" and an average target price of $163.29.

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.

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