Summit Securities Group LLC Acquires New Holdings in Exxon Mobil Corporation (NYSE:XOM)

Summit Securities Group LLC acquired a new stake in shares of Exxon Mobil Corporation (NYSE:XOM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,600 shares of the oil and gas company’s stock, valued at approximately $190,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Axis Wealth Partners LLC lifted its position in Exxon Mobil by 1.9% during the first quarter. Axis Wealth Partners LLC now owns 4,966 shares of the oil and gas company’s stock valued at $591,000 after purchasing an additional 93 shares during the period. Gagnon Securities LLC lifted its position in Exxon Mobil by 1.3% during the first quarter. Gagnon Securities LLC now owns 7,235 shares of the oil and gas company’s stock valued at $860,000 after purchasing an additional 95 shares during the period. WPWealth LLP increased its holdings in Exxon Mobil by 1.1% during the fourth quarter. WPWealth LLP now owns 9,201 shares of the oil and gas company’s stock valued at $990,000 after buying an additional 96 shares during the last quarter. Ascent Capital Management LLC increased its holdings in Exxon Mobil by 2.0% during the first quarter. Ascent Capital Management LLC now owns 4,913 shares of the oil and gas company’s stock valued at $584,000 after buying an additional 96 shares during the last quarter. Finally, DDD Partners LLC increased its holdings in Exxon Mobil by 1.4% during the first quarter. DDD Partners LLC now owns 6,811 shares of the oil and gas company’s stock valued at $810,000 after buying an additional 96 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research reports. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the company an “overweight” rating in a report on Thursday, June 26th. Piper Sandler upped their target price on shares of Exxon Mobil from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a report on Friday, July 11th. Finally, Barclays reaffirmed a “hold” rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $125.26.

Exxon Mobil Stock Performance

XOM opened at $106.54 on Friday. The stock has a market capitalization of $454.21 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.00 and a beta of 0.53. The company has a fifty day moving average of $110.25 and a 200 day moving average of $108.88. Exxon Mobil Corporation has a fifty-two week low of $97.80 and a fifty-two week high of $126.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25.

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

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.7%. 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.