Summit Global Investments Boosts Stake in Exxon Mobil Co. (NYSE:XOM)

Summit Global Investments raised its position in shares of Exxon Mobil Co. (NYSE:XOM) by 79.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,729 shares of the oil and gas company’s stock after purchasing an additional 2,539 shares during the quarter. Summit Global Investments’ holdings in Exxon Mobil were worth $672,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. purchased a new stake in Exxon Mobil during the first quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of Exxon Mobil in the 2nd quarter worth about $35,000. Anfield Capital Management LLC raised its position in shares of Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 252 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Exxon Mobil in the 2nd quarter valued at about $39,000. Finally, POM Investment Strategies LLC grew its position in Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 340 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Mizuho lifted their price objective on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. UBS Group reduced their target price on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Barclays dropped their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Truist Financial decreased their price objective 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus price target of $129.95.

Exxon Mobil Stock Down 0.0 %

Shares of Exxon Mobil stock opened at $121.11 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The stock has a market cap of $532.29 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 5.07 and a beta of 0.90. The firm’s 50-day moving average is $117.91 and its two-hundred day moving average is $116.40. Exxon Mobil Co. has a 1 year low of $95.77 and a 1 year high of $126.34.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the firm earned $2.27 earnings per share. As a group, research analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.27%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s payout ratio is presently 49.32%.

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.