Mitsubishi UFJ Asset Management Co. Ltd. Buys 781,769 Shares of Exxon Mobil Corporation (NYSE:XOM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Exxon Mobil by 11.1%, acquiring 781,769 additional shares, bringing its total to 7,823,528 shares.
• Exxon Mobil's latest quarterly earnings beat analysts' expectations, reporting $1.64 earnings per share and $81.51 billion in revenue, despite a year-over-year revenue decline of 12.4%.
• The company announced a quarterly dividend of $0.99, representing an annualized yield of 3.7%, with a payout ratio of 56.25%.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,823,528 shares of the oil and gas company's stock after buying an additional 781,769 shares during the quarter. Exxon Mobil makes up approximately 0.9% of Mitsubishi UFJ Asset Management Co. Ltd.'s portfolio, making the stock its 19th largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Exxon Mobil worth $930,452,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 10Elms LLP bought a new position in Exxon Mobil during the fourth quarter worth about $25,000. Graybill Wealth Management LTD. bought a new position in shares of Exxon Mobil in the first quarter valued at approximately $29,000. Capital A Wealth Management LLC bought a new position in shares of Exxon Mobil in the fourth quarter valued at approximately $32,000. Cloud Capital Management LLC bought a new position in shares of Exxon Mobil in the first quarter valued at approximately $45,000. Finally, Clarity Asset Management Inc. boosted its position in shares of Exxon Mobil by 29.7% in the fourth quarter. Clarity Asset Management Inc. now owns 437 shares of the oil and gas company's stock valued at $47,000 after acquiring an additional 100 shares during the period. Institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Exxon Mobil from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Scotiabank reaffirmed an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Mizuho lowered their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $125.26.

Exxon Mobil Stock Down 0.6%

Shares of NYSE XOM opened at $106.56 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. Exxon Mobil Corporation has a 52 week low of $97.80 and a 52 week high of $126.34. The firm's fifty day moving average is $109.73 and its 200 day moving average is $109.05. The company has a market cap of $454.28 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 2.02 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.14 earnings per share. On average, equities research analysts expect that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a yield of 3.7%. Exxon Mobil's payout ratio is 56.25%.

Exxon Mobil 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.

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