Summit Financial LLC Purchases 34,683 Shares of Exxon Mobil Co. (NYSE:XOM)

Summit Financial LLC raised its position in Exxon Mobil Co. (NYSE:XOM - Free Report) by 39.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 122,310 shares of the oil and gas company's stock after buying an additional 34,683 shares during the quarter. Summit Financial LLC's holdings in Exxon Mobil were worth $13,157,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Exxon Mobil by 8.4% in the third quarter. Principal Financial Group Inc. now owns 6,709,202 shares of the oil and gas company's stock valued at $786,453,000 after buying an additional 521,932 shares in the last quarter. United Bank increased its position in Exxon Mobil by 3.7% during the 3rd quarter. United Bank now owns 17,920 shares of the oil and gas company's stock worth $2,101,000 after purchasing an additional 641 shares in the last quarter. Encompass More Asset Management purchased a new position in shares of Exxon Mobil during the third quarter valued at approximately $273,000. Tradition Wealth Management LLC boosted its holdings in shares of Exxon Mobil by 3.3% during the third quarter. Tradition Wealth Management LLC now owns 11,384 shares of the oil and gas company's stock worth $1,334,000 after purchasing an additional 362 shares during the last quarter. Finally, Semmax Financial Advisors Inc. raised its holdings in Exxon Mobil by 1.4% in the third quarter. Semmax Financial Advisors Inc. now owns 61,390 shares of the oil and gas company's stock valued at $7,388,000 after buying an additional 868 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

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Insider Activity

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total value of $231,000.00. Following the completion of the sale, the vice president now owns 18,087 shares of the company's stock, valued at approximately $1,989,570. The trade was a 10.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho reduced their target price on shares of Exxon Mobil from $137.00 to $134.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. Bernstein Bank boosted their price objective on Exxon Mobil from $138.00 to $144.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Morgan Stanley lowered their price target on shares of Exxon Mobil from $141.00 to $138.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Barclays reduced their price target on Exxon Mobil from $137.00 to $135.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.05.

Exxon Mobil Price Performance

NYSE:XOM traded down $0.20 during midday trading on Wednesday, hitting $118.84. 12,564,958 shares of the stock were exchanged, compared to its average volume of 15,711,884. The business has a 50-day moving average price of $111.01 and a two-hundred day moving average price of $113.85. Exxon Mobil Co. has a one year low of $103.67 and a one year high of $126.34. The company has a market capitalization of $515.66 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 3.02 and a beta of 0.60. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM - Get Free Report) last released 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 return on equity of 12.92% and a net margin of 9.63%. During the same quarter in the prior year, the company earned $2.48 earnings per share. Sell-side analysts predict that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Wednesday, February 12th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.33%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil's payout ratio is 50.51%.

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.