Summit Financial LLC Buys 7,774 Shares of ExxonMobil Corporation $XOM

Summit Financial LLC increased its stake in ExxonMobil Corporation (NYSE:XOM) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,281 shares of the oil and gas company’s stock after purchasing an additional 7,774 shares during the period. Summit Financial LLC’s holdings in ExxonMobil were worth $20,371,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Eagle Capital Management LLC raised its position in shares of ExxonMobil by 15.3% during the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after acquiring an additional 376 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of ExxonMobil during the 1st quarter valued at $305,000. Sivia Capital Partners LLC raised its position in shares of ExxonMobil by 1.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock valued at $1,211,000 after acquiring an additional 207 shares during the last quarter. United Bank raised its position in shares of ExxonMobil by 2.8% during the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock valued at $2,352,000 after acquiring an additional 600 shares during the last quarter. Finally, Schnieders Capital Management LLC. raised its position in shares of ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock valued at $3,957,000 after acquiring an additional 5,443 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Insider Activity

In other news, VP Darrin L. Talley sold 1,080 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the transaction, the vice president owned 17,124 shares of the company’s stock, valued at $2,662,782. The trade was a 5.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

XOM has been the subject of several recent research reports. HSBC upped their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research report on Friday, March 20th. Jefferies Financial Group upped their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. UBS Group upped their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Scotiabank upped their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Bank of America upped their target price on shares of ExxonMobil from $135.00 to $151.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $165.55.

ExxonMobil Price Performance

Shares of XOM stock opened at $146.80 on Friday. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The firm has a market capitalization of $608.47 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $152.09 and a 200-day moving average of $142.36.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the previous year, the business earned $1.76 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. ExxonMobil’s payout ratio is 69.48%.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

ExxonMobil Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.