Summa Corp. Increases Stake in Exxon Mobil Corporation $XOM

Summa Corp. boosted its stake in shares of Exxon Mobil Corporation (NYSE:XOM) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the oil and gas company’s stock after acquiring an additional 500 shares during the quarter. Exxon Mobil accounts for 0.4% of Summa Corp.’s holdings, making the stock its 26th largest position. Summa Corp.’s holdings in Exxon Mobil were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in XOM. Bank of New York Mellon Corp increased its stake in shares of Exxon Mobil by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock valued at $5,390,318,000 after purchasing an additional 1,340,343 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Exxon Mobil by 1.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 32,373,392 shares of the oil and gas company’s stock valued at $3,850,167,000 after buying an additional 512,860 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Exxon Mobil by 10.8% in the first quarter. Ameriprise Financial Inc. now owns 27,017,683 shares of the oil and gas company’s stock valued at $3,213,848,000 after buying an additional 2,639,797 shares in the last quarter. Amundi increased its position in shares of Exxon Mobil by 9.7% in the first quarter. Amundi now owns 26,386,120 shares of the oil and gas company’s stock valued at $2,966,598,000 after buying an additional 2,329,964 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Exxon Mobil by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 25,468,498 shares of the oil and gas company’s stock valued at $3,028,968,000 after buying an additional 909,386 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Darrin L. Talley sold 2,158 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $110.45, for a total value of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company’s stock, valued at $1,527,413.05. This represents a 13.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on XOM shares. Mizuho cut their price target on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating for the company in a report on Monday, September 15th. Melius began coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Exxon Mobil in a research note on Wednesday, October 8th. 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. Finally, Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.05.

Exxon Mobil Stock Up 0.1%

Shares of NYSE XOM opened at $112.40 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $111.52 and a 200 day moving average of $109.34. The stock has a market cap of $479.21 billion, a PE ratio of 15.97, a P/E/G ratio of 2.03 and a beta of 0.51. Exxon Mobil Corporation has a 12-month low of $97.80 and a 12-month high of $123.21.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share (EPS) for the quarter. The business had revenue of $57.55 billion during the quarter. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%. As a group, sell-side analysts predict that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were issued a $0.99 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.5%. Exxon Mobil’s dividend payout ratio is currently 56.25%.

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.