Summit Asset Management LLC Sells 98 Shares of Exxon Mobil Co. (NYSE:XOM)

Summit Asset Management LLC lowered its position in Exxon Mobil Co. (NYSE:XOM) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 24,456 shares of the oil and gas company’s stock after selling 98 shares during the period. Summit Asset Management LLC’s holdings in Exxon Mobil were worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Vertex Planning Partners LLC lifted its position in shares of Exxon Mobil by 3.1% in the 3rd quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock worth $326,000 after acquiring an additional 83 shares during the period. First Heartland Consultants Inc. lifted its position in shares of Exxon Mobil by 0.9% in the 3rd quarter. First Heartland Consultants Inc. now owns 9,451 shares of the oil and gas company’s stock worth $1,108,000 after acquiring an additional 87 shares during the period. Latitude Advisors LLC lifted its position in shares of Exxon Mobil by 0.7% in the 3rd quarter. Latitude Advisors LLC now owns 13,378 shares of the oil and gas company’s stock worth $1,568,000 after acquiring an additional 88 shares during the period. Longfellow Investment Management Co. LLC lifted its position in shares of Exxon Mobil by 0.6% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 14,537 shares of the oil and gas company’s stock worth $1,704,000 after acquiring an additional 88 shares during the period. Finally, West Oak Capital LLC lifted its position in shares of Exxon Mobil by 0.6% in the 4th quarter. West Oak Capital LLC now owns 16,207 shares of the oil and gas company’s stock worth $1,743,000 after acquiring an additional 92 shares during the period. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Down 1.4 %

NYSE XOM opened at $109.75 on Wednesday. The stock has a fifty day moving average of $108.69 and a 200-day moving average of $114.37. The stock has a market capitalization of $476.20 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 3.02 and a beta of 0.89. Exxon Mobil Co. has a 52 week low of $103.05 and a 52 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.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same period last year, the firm earned $2.48 earnings per share. On average, equities research analysts forecast that Exxon Mobil Co. will post 7.43 EPS for the current year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. Exxon Mobil’s dividend payout ratio (DPR) is currently 50.51%.

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 stock was sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the sale, the vice president now directly owns 18,087 shares of the company’s stock, valued at $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on XOM. Bernstein Bank raised their price objective on Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 target price on shares of Exxon Mobil in a research report on Monday, February 3rd. BMO Capital Markets cut their target price on Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating for the company in a research report on Friday, January 31st. Argus upgraded Exxon Mobil to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, HSBC cut their target price on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus target price of $129.25.

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.