Summit X LLC Increases Holdings in Exxon Mobil Co. (NYSE:XOM)

Summit X LLC lifted its position in Exxon Mobil Co. (NYSE:XOM) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,642 shares of the oil and gas company’s stock after purchasing an additional 1,310 shares during the quarter. Summit X LLC’s holdings in Exxon Mobil were worth $2,436,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Exxon Mobil by 8.4% during the third quarter. Principal Financial Group Inc. now owns 6,709,202 shares of the oil and gas company’s stock worth $786,453,000 after acquiring an additional 521,932 shares during the period. United Bank grew its holdings in Exxon Mobil by 3.7% during the third quarter. United Bank now owns 17,920 shares of the oil and gas company’s stock worth $2,101,000 after acquiring an additional 641 shares during the period. Transcendent Capital Group LLC grew its holdings in Exxon Mobil by 3.5% during the third quarter. Transcendent Capital Group LLC now owns 5,032 shares of the oil and gas company’s stock worth $590,000 after acquiring an additional 169 shares during the period. Costello Asset Management INC grew its holdings in Exxon Mobil by 61.9% during the third quarter. Costello Asset Management INC now owns 777 shares of the oil and gas company’s stock worth $91,000 after acquiring an additional 297 shares during the period. Finally, Axxcess Wealth Management LLC grew its holdings in Exxon Mobil by 1.2% during the third quarter. Axxcess Wealth Management LLC now owns 168,659 shares of the oil and gas company’s stock worth $19,770,000 after acquiring an additional 1,970 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total value of $231,000.00. Following the sale, the vice president now owns 18,087 shares in the company, valued at $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.03% of the company’s stock.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $109.06 on Wednesday. Exxon Mobil Co. has a one year low of $103.67 and a one year high of $126.34. The company has a market cap of $473.24 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 3.02 and a beta of 0.83. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The business’s 50 day moving average price is $109.20 and its 200 day moving average price is $113.80.

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

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders 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 dividend on an annualized basis and a yield of 3.63%. Exxon Mobil’s dividend payout ratio is currently 50.51%.

Analyst Upgrades and Downgrades

Several brokerages have commented on XOM. HSBC dropped their price objective on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Scotiabank dropped their price objective on Exxon Mobil from $145.00 to $140.00 in a report on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price objective on shares of Exxon Mobil in a report on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their price objective on Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.25.

About Exxon Mobil

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.