Summit Financial LLC Raises Stake in Exxon Mobil Co. (NYSE:XOM)

Summit Financial LLC boosted its holdings in Exxon Mobil Co. (NYSE:XOM) by 39.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 122,310 shares of the oil and gas company’s stock after purchasing an additional 34,683 shares during the quarter. Summit Financial LLC’s holdings in Exxon Mobil were worth $13,157,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Argus raised Exxon Mobil to a “strong-buy” rating in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their target price on Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. BMO Capital Markets dropped their price target on shares of Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a report on Friday, January 31st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price objective on shares of Exxon Mobil in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.05.

Exxon Mobil Trading Down 0.2 %

Shares of NYSE:XOM opened at $117.66 on Monday. The stock has a 50 day moving average of $110.73 and a 200 day moving average of $113.74. The company has a market cap of $510.53 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 3.02 and a beta of 0.83. Exxon Mobil Co. has a 12-month low of $103.67 and a 12-month high of $126.34. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

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

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th were given a $0.99 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $3.96 annualized dividend and a dividend yield of 3.37%. Exxon Mobil’s payout ratio is 50.51%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total transaction of $231,000.00. Following the sale, the vice president now owns 18,087 shares of the company’s stock, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.03% of the company’s stock.

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.