Sumitomo Life Insurance Co. Buys 1,056 Shares of Exxon Mobil Co. (NYSE:XOM)

Sumitomo Life Insurance Co. lifted its position in Exxon Mobil Co. (NYSE:XOM) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,020 shares of the oil and gas company’s stock after acquiring an additional 1,056 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Exxon Mobil were worth $4,691,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after buying an additional 14,158,054 shares during the period. Global Assets Advisory LLC boosted its holdings in Exxon Mobil by 16,399.4% during the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after acquiring an additional 12,540,435 shares during the period. Primecap Management Co. CA bought a new position in Exxon Mobil in the 2nd quarter valued at $980,210,000. Capital International Investors increased its stake in Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Performance

XOM stock opened at $120.67 on Thursday. The firm has a market cap of $475.80 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 5.02 and a beta of 0.89. Exxon Mobil Co. has a one year low of $95.77 and a one year high of $126.34. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36. The firm has a 50-day simple moving average of $117.32 and a two-hundred day simple moving average of $116.46.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion for the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 EPS. On average, equities analysts forecast that Exxon Mobil Co. will post 8.11 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on XOM shares. Morgan Stanley cut their price target on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Sanford C. Bernstein dropped their target price on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. Finally, Barclays decreased their target price on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.88.

About Exxon Mobil

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.