Summit Wealth Group LLC Has $431,000 Stock Holdings in Exxon Mobil Corporation $XOM

Summit Wealth Group LLC raised its stake in Exxon Mobil Corporation (NYSE:XOM) by 13.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,999 shares of the oil and gas company’s stock after acquiring an additional 471 shares during the period. Summit Wealth Group LLC’s holdings in Exxon Mobil were worth $431,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Journey Strategic Wealth LLC raised its position in shares of Exxon Mobil by 6.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock worth $2,608,000 after acquiring an additional 1,379 shares in the last quarter. Linscomb Wealth Inc. increased its position in Exxon Mobil by 1.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock valued at $42,017,000 after buying an additional 5,527 shares in the last quarter. Jones Financial Companies Lllp increased its position in Exxon Mobil by 52.3% in the 1st quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock valued at $45,149,000 after buying an additional 131,600 shares in the last quarter. Hartford Funds Management Co LLC increased its position in Exxon Mobil by 51.8% in 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 buying an additional 2,617 shares in the last quarter. Finally, Phoenix Financial Ltd. increased its position in Exxon Mobil by 23.9% in the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock valued at $11,561,000 after buying an additional 18,752 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on XOM shares. Scotiabank reaffirmed an “outperform” rating on shares of Exxon Mobil in a research report on Monday. Melius Research started coverage on Exxon Mobil in a research report on Wednesday, August 20th. They issued a “hold” rating and a $111.00 target price for the company. Wall Street Zen raised Exxon Mobil from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. UBS Group boosted their target price on Exxon Mobil from $143.00 to $145.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Bank of America boosted their target price on Exxon Mobil from $113.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $128.50.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $113.73 on Thursday. The business’s 50 day simple moving average is $113.37 and its 200 day simple moving average is $110.16. The company has a current ratio of 1.25, a quick ratio of 0.88 and a debt-to-equity ratio of 0.12. Exxon Mobil Corporation has a 12 month low of $97.80 and a 12 month high of $123.21. The company has a market cap of $484.86 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.06 and a beta of 0.49.

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

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 3.6%. Exxon Mobil’s payout ratio is currently 59.88%.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,158 shares of the company’s stock in a transaction 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 transaction, the vice president owned 13,829 shares of the company’s stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.03% of the company’s stock.

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.