Rakuten Investment Management Inc. Grows Position in ExxonMobil Corporation $XOM

Key Points

• Rakuten Investment Management sharply increased its ExxonMobil stake by 238.2% in the fourth quarter, ending with 556,719 shares valued at about $67.1 million.
• ExxonMobil reported better-than-expected quarterly earnings, posting $1.16 EPS versus the $0.98 consensus estimate on $83.16 billion in revenue.
• The company continues to offer shareholder returns through a quarterly dividend of $1.03 per share, translating to an annualized yield of about 2.9%.

Rakuten Investment Management Inc. increased its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 238.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 556,719 shares of the oil and gas company's stock after buying an additional 392,108 shares during the quarter. ExxonMobil comprises 0.2% of Rakuten Investment Management Inc.'s investment portfolio, making the stock its 27th biggest holding. Rakuten Investment Management Inc.'s holdings in ExxonMobil were worth $67,101,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC lifted its position in ExxonMobil by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company's stock worth $27,857,000 after acquiring an additional 14,233 shares during the period. New Age Alpha Advisors LLC lifted its position in ExxonMobil by 5.6% during the 3rd quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company's stock worth $18,778,000 after acquiring an additional 8,853 shares during the period. Roberts Capital Advisors LLC acquired a new stake in ExxonMobil during the 3rd quarter worth approximately $1,240,000. Midland Wealth Advisors LLC lifted its position in ExxonMobil by 95.0% during the 3rd quarter. Midland Wealth Advisors LLC now owns 44,675 shares of the oil and gas company's stock worth $5,037,000 after acquiring an additional 21,766 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in ExxonMobil by 9.0% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 410,046 shares of the oil and gas company's stock worth $46,233,000 after acquiring an additional 33,950 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

ExxonMobil Stock Performance

NYSE XOM opened at $141.64 on Wednesday. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The company has a market capitalization of $587.08 billion, a P/E ratio of 23.88, a PEG ratio of 0.60 and a beta of 0.16. The business has a 50 day moving average price of $151.31 and a 200 day moving average price of $142.92. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same period last year, the business posted $1.76 EPS. ExxonMobil's quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts expect that ExxonMobil Corporation will post 11.8 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio (DPR) is presently 69.48%.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil from neutral to buy and set a $154 price target, saying the shares look undervalued after the recent pullback. Benzinga
• Positive Sentiment: Exxon filed for a 35-well exploration campaign in Guyana’s Stabroek block, reinforcing growth potential in one of its most important long-term assets. Article Title
• Neutral Sentiment: Analysts and media reports continue to highlight Exxon as a possible acquisition player, including speculation around Woodside Energy, but nothing has been confirmed. Article Title
• Neutral Sentiment: Broader energy stocks are weaker pre-market, which adds sector-wide pressure on XOM even as the stock draws positive analyst commentary. Article Title
• Negative Sentiment: Lower crude prices are the main headwind, since a sustained move below $80 could reduce ExxonMobil’s earnings power and slow investor enthusiasm for its upstream growth story. Article Title

Analyst Ratings Changes

XOM has been the subject of several recent analyst reports. Weiss Ratings cut ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the company a "neutral" rating in a report on Friday, April 17th. Sanford C. Bernstein reduced their price target on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a report on Monday, May 11th. Barclays raised their price target on ExxonMobil from $163.00 to $182.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Finally, Mizuho raised their price target on ExxonMobil from $159.00 to $175.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, ExxonMobil presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.70.

About ExxonMobil

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.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.