Summit Financial LLC Grows Position in Exxon Mobil Co. (NYSE:XOM)

Summit Financial LLC raised its position in shares of Exxon Mobil Co. (NYSE:XOM) by 39.6% during the 4th quarter, Holdings Channel reports. The fund owned 122,310 shares of the oil and gas company’s stock after purchasing an additional 34,683 shares during the period. Summit Financial LLC’s holdings in Exxon Mobil were worth $13,157,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC purchased a new position in Exxon Mobil in the fourth quarter worth about $31,000. Keystone Financial Group Inc. bought a new stake in shares of Exxon Mobil in the 4th quarter valued at approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Exxon Mobil in the 4th quarter worth approximately $46,000. Compass Planning Associates Inc bought a new position in shares of Exxon Mobil during the 4th quarter valued at approximately $47,000. Finally, Synergy Investment Management LLC purchased a new stake in Exxon Mobil during the 4th quarter valued at $47,000. 61.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the transaction, the vice president now directly owns 18,087 shares in the company, valued at $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Price Performance

Shares of XOM stock opened at $117.66 on Monday. Exxon Mobil Co. has a fifty-two week low of $103.67 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a market capitalization of $510.53 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 3.02 and a beta of 0.83. The stock’s 50-day simple moving average is $110.73 and its 200-day simple moving average is $113.74.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same quarter last year, the business posted $2.48 EPS. As a group, equities analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.37%. Exxon Mobil’s dividend payout ratio is currently 50.51%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on XOM. HSBC cut their price objective on shares of Exxon Mobil from $125.00 to $123.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Morgan Stanley decreased their price target on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating for the company in a research note on Thursday. Truist Financial upped their price objective on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a research report on Monday, January 13th. UBS Group lowered their target price on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Barclays lowered their price objective on shares of Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $129.05.

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.