Summit Financial LLC Grows Stock Position in Exxon Mobil Corporation $XOM

Key Points

• Summit Financial LLC increased its stake in Exxon Mobil Corporation by 5.8%, owning 129,378 shares valued at approximately $15.39 million after acquiring additional shares in the first quarter.
• Multiple analysts have adjusted their ratings and price targets for Exxon Mobil, with UBS raising its target from $130 to $143 and Piper Sandler increasing theirs from $134 to $145, while Wall Street Zen downgraded the stock from "hold" to "sell."
• Exxon Mobil recently announced a quarterly dividend of $0.99, which equates to an annualized dividend of $3.96 and a yield of 3.6%, with a payout ratio of 56.25%.

Summit Financial LLC boosted its stake in Exxon Mobil Corporation (NYSE:XOM - Free Report) by 5.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,378 shares of the oil and gas company's stock after acquiring an additional 7,068 shares during the quarter. Summit Financial LLC's holdings in Exxon Mobil were worth $15,387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its stake in shares of Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company's stock valued at $61,332,000 after buying an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter valued at approximately $55,000. Journey Strategic Wealth LLC raised its position in shares of Exxon Mobil by 6.7% during the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company's stock valued at $2,608,000 after acquiring an additional 1,379 shares in the last quarter. Legacy Trust raised its position in shares of Exxon Mobil by 12.7% during the 1st quarter. Legacy Trust now owns 8,861 shares of the oil and gas company's stock valued at $1,054,000 after acquiring an additional 997 shares in the last quarter. Finally, Hartford Funds Management Co LLC raised its position in shares of Exxon Mobil by 51.8% during the 1st quarter. Hartford Funds Management Co LLC now owns 7,665 shares of the oil and gas company's stock valued at $912,000 after acquiring an additional 2,617 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several analyst reports. Wall Street Zen lowered Exxon Mobil from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Piper Sandler lifted their target price on Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday. Melius Research assumed coverage on Exxon Mobil in a report on Wednesday. They set a "hold" rating and a $111.00 target price on the stock. UBS Group increased their price target on Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, TD Cowen increased their price target on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $125.00.

Exxon Mobil Stock Up 1.0%

XOM opened at $108.5440 on Thursday. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The business has a 50-day moving average of $110.27 and a 200-day moving average of $108.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The company has a market capitalization of $462.75 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. Exxon Mobil had a return on equity of 11.34% and a net margin of 9.17%.The company had revenue of $81.51 billion during the quarter, compared to the consensus estimate of $79.07 billion. During the same period last year, the business earned $2.14 EPS. The business's quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts forecast that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio (DPR) is presently 56.25%.

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.

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