Summit Wealth Group LLC Grows Stake in Exxon Mobil Co. (NYSE:XOM)

Summit Wealth Group LLC raised its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 31.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,926 shares of the oil and gas company’s stock after purchasing an additional 707 shares during the quarter. Summit Wealth Group LLC’s holdings in Exxon Mobil were worth $315,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. FFT Wealth Management LLC boosted its position in shares of Exxon Mobil by 7.1% during the fourth quarter. FFT Wealth Management LLC now owns 2,882 shares of the oil and gas company’s stock valued at $310,000 after purchasing an additional 191 shares in the last quarter. Sprott Inc. increased its stake in shares of Exxon Mobil by 4.7% in the 4th quarter. Sprott Inc. now owns 253,948 shares of the oil and gas company’s stock worth $27,317,000 after acquiring an additional 11,369 shares in the last quarter. Pinnacle West Asset Management Inc. lifted its holdings in shares of Exxon Mobil by 2.4% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 20,090 shares of the oil and gas company’s stock valued at $2,161,000 after purchasing an additional 475 shares during the last quarter. MorganRosel Wealth Management LLC boosted its position in shares of Exxon Mobil by 13.9% in the 4th quarter. MorganRosel Wealth Management LLC now owns 2,320 shares of the oil and gas company’s stock worth $250,000 after purchasing an additional 284 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. grew its stake in shares of Exxon Mobil by 0.6% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 39,305 shares of the oil and gas company’s stock worth $4,228,000 after buying an additional 220 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Darrin L. Talley sold 2,100 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the transaction, the vice president now directly owns 18,087 shares of the company’s stock, valued at approximately $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on XOM. Wells Fargo & Company reduced their price target on Exxon Mobil from $136.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 price target on shares of Exxon Mobil in a research note on Monday, February 3rd. Truist Financial increased their price objective on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Argus raised shares of Exxon Mobil to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their price objective on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, December 16th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $129.25.

Exxon Mobil Trading Up 0.6 %

Shares of Exxon Mobil stock opened at $110.06 on Friday. Exxon Mobil Co. has a fifty-two week low of $104.00 and a fifty-two week high of $126.34. 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 company has a market capitalization of $477.58 billion, a P/E ratio of 14.04, a P/E/G ratio of 3.02 and a beta of 0.89. The company has a fifty day moving average of $108.84 and a 200 day moving average of $114.31.

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

Exxon Mobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is currently 50.51%.

Exxon Mobil Company 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.