Summit Global Investments Buys 2,539 Shares of Exxon Mobil Co. (NYSE:XOM)

Summit Global Investments raised its stake in shares of Exxon Mobil Co. (NYSE:XOM) by 79.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,729 shares of the oil and gas company’s stock after buying 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 quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bensler LLC increased its stake in Exxon Mobil by 31.1% during the 3rd quarter. Bensler LLC now owns 2,661 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 632 shares in the last quarter. Smith Thornton Advisors LLC grew its holdings in shares of Exxon Mobil by 3.8% during the third quarter. Smith Thornton Advisors LLC now owns 15,407 shares of the oil and gas company’s stock valued at $1,806,000 after buying an additional 563 shares during the last quarter. Winthrop Advisory Group LLC increased its position in shares of Exxon Mobil by 108.4% during the third quarter. Winthrop Advisory Group LLC now owns 8,725 shares of the oil and gas company’s stock valued at $1,023,000 after acquiring an additional 4,539 shares in the last quarter. Verity Asset Management Inc. raised its holdings in Exxon Mobil by 19.0% in the 3rd quarter. Verity Asset Management Inc. now owns 3,427 shares of the oil and gas company’s stock worth $402,000 after acquiring an additional 547 shares during the last quarter. Finally, Lewis Asset Management LLC lifted its position in Exxon Mobil by 37.4% in the 3rd quarter. Lewis Asset Management LLC now owns 3,603 shares of the oil and gas company’s stock valued at $422,000 after acquiring an additional 980 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Stock Performance

XOM opened at $121.11 on Friday. The company has a 50 day simple moving average of $117.91 and a two-hundred day simple moving average of $116.40. 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 firm has a market cap of $532.29 billion, a P/E ratio of 15.08, a PEG ratio of 5.07 and a beta of 0.90. Exxon Mobil Co. has a 1-year low of $95.77 and a 1-year high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS 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 business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same period last year, the firm earned $2.27 earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. Equities analysts forecast that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.99 per share. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date is Thursday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is 49.32%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Mizuho lifted their target price on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research report on Monday, November 4th. Redburn Atlantic restated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. TD Cowen reduced their price target on shares of Exxon Mobil from $130.00 to $127.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, BNP Paribas downgraded shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.95.

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.