Nippon Life Global Investors Americas Inc. Has $1.31 Million Stock Holdings in Exxon Mobil Corporation $XOM

Key Points

• Nippon Life Global Investors Americas Inc. significantly reduced its stake in Exxon Mobil Corporation by 70.7%, now holding 11,030 shares worth approximately $1.31 million after selling 26,600 shares in the first quarter.
• Analysts have set mixed ratings on Exxon Mobil, with one having a "Strong Buy," eight "Buy," eleven "Hold," and one "Sell," while the average target price for the stock is $125.00.
• Exxon Mobil reported a 12.4% year-over-year decrease in quarterly revenue, posting $1.64 EPS against expectations of $1.47, suggesting strong performance amidst declining revenues.

Nippon Life Global Investors Americas Inc. lowered its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 70.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,030 shares of the oil and gas company's stock after selling 26,600 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Exxon Mobil were worth $1,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantinno Capital Management LP lifted its position in shares of Exxon Mobil by 24.1% in the fourth quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock worth $61,332,000 after buying an additional 110,772 shares during the last quarter. Journey Strategic Wealth LLC increased its stake in shares of Exxon Mobil by 6.7% in the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock worth $2,608,000 after purchasing an additional 1,379 shares during the period. Legacy Trust increased its stake in shares of Exxon Mobil by 12.7% in the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 997 shares during the period. Hartford Funds Management Co LLC increased its stake in shares of Exxon Mobil by 51.8% in the first quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock worth $912,000 after purchasing an additional 2,617 shares during the period. Finally, Phoenix Financial Ltd. increased its stake in shares of Exxon Mobil by 23.9% in the first quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company's stock worth $11,561,000 after purchasing an additional 18,752 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 13,829 shares in the company, valued at $1,527,413.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by company insiders.

Exxon Mobil Price Performance

NYSE XOM traded down $3.17 during trading hours on Friday, reaching $109.23. 16,823,996 shares of the company's stock were exchanged, compared to its average volume of 14,092,043. The stock has a market cap of $465.66 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $126.34. The firm has a fifty day moving average of $110.45 and a 200-day moving average of $109.12. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12.

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 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.Exxon Mobil's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.14 EPS. On average, equities research analysts predict that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $0.99 per share. The ex-dividend date is Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.6%. Exxon Mobil's dividend payout ratio is 56.25%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on XOM. Piper Sandler lifted their price objective on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company set a $127.00 price objective on Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Scotiabank reiterated an "outperform" rating on shares of Exxon Mobil in a research note on Friday, July 11th. Barclays restated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Finally, Melius assumed coverage on Exxon Mobil in a research note on Wednesday, August 20th. They set a "hold" rating and a $111.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Exxon Mobil currently has an average rating of "Hold" and a consensus target price of $125.00.

Exxon Mobil Company 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.