Summit Asset Management LLC Has $2.88 Million Position in Exxon Mobil Co. (NYSE:XOM)

Summit Asset Management LLC cut its position in Exxon Mobil Co. (NYSE:XOM) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,554 shares of the oil and gas company’s stock after selling 749 shares during the period. Exxon Mobil comprises about 0.5% of Summit Asset Management LLC’s portfolio, making the stock its 27th largest position. Summit Asset Management LLC’s holdings in Exxon Mobil were worth $2,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after acquiring an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after purchasing an additional 4,080,716 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. Legal & General Group Plc grew its position in shares of Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. Finally, Capital International Investors increased its stake in Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on XOM shares. TD Cowen reduced their price target on shares of Exxon Mobil from $130.00 to $127.00 and set a “buy” rating for the company in a report on Monday, November 4th. Truist Financial reduced their target price on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. BNP Paribas downgraded Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research note on Wednesday, October 9th. Mizuho upped their price objective on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Finally, Wolfe Research lifted their target price on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Stock Up 0.1 %

XOM stock opened at $120.57 on Friday. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34. The business’s 50 day simple moving average is $118.21 and its 200 day simple moving average is $116.38. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $529.92 billion, a PE ratio of 15.01, a PEG ratio of 5.09 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.91 by $0.01. The firm had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the company earned $2.27 earnings per share. As a group, research analysts anticipate that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is currently 47.32%.

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.