Summit Financial Wealth Advisors LLC Cuts Stake in Exxon Mobil Co. (NYSE:XOM)

Summit Financial Wealth Advisors LLC cut its holdings in shares of Exxon Mobil Co. (NYSE:XOM) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,594 shares of the oil and gas company’s stock after selling 295 shares during the quarter. Exxon Mobil accounts for approximately 1.1% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 26th biggest holding. Summit Financial Wealth Advisors LLC’s holdings in Exxon Mobil were worth $5,813,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after buying an additional 14,158,054 shares during the last quarter. Primecap Management Co. CA bought a new position in Exxon Mobil during the 2nd quarter worth approximately $980,210,000. International Assets Investment Management LLC increased its stake in Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after purchasing an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP lifted its position in Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

Shares of NYSE XOM opened at $119.97 on Tuesday. The company has a 50 day simple moving average of $119.53 and a two-hundred day simple moving average of $116.56. Exxon Mobil Co. has a fifty-two week low of $95.77 and a fifty-two week high of $126.34. The company has a market capitalization of $527.28 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 5.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. During the same quarter last year, the company earned $2.27 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Analysts expect that Exxon Mobil Co. will post 7.96 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.30%. Exxon Mobil’s dividend payout ratio is presently 49.32%.

Analysts Set New Price Targets

A number of research firms recently commented on XOM. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target for the company. in a report on Wednesday, October 9th. Morgan Stanley dropped their target price on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Wells Fargo & Company raised their target price on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Finally, Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $130.21.

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.