Exxon Mobil Co. (NYSE:XOM) Position Boosted by Summit Global Investments

Summit Global Investments increased its holdings in Exxon Mobil Co. (NYSE:XOM) by 40.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,058 shares of the oil and gas company’s stock after buying an additional 3,453 shares during the quarter. Summit Global Investments’ holdings in Exxon Mobil were worth $1,434,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its stake in Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company’s stock valued at $61,332,000 after purchasing an additional 110,772 shares in the last quarter. Accredited Wealth Management LLC bought a new position in Exxon Mobil during the 4th quarter valued at $55,000. Rockline Wealth Management LLC lifted its position in shares of Exxon Mobil by 6.1% during the 4th quarter. Rockline Wealth Management LLC now owns 25,918 shares of the oil and gas company’s stock valued at $2,788,000 after acquiring an additional 1,498 shares during the last quarter. Renasant Bank lifted its position in shares of Exxon Mobil by 5.0% during the 4th quarter. Renasant Bank now owns 10,369 shares of the oil and gas company’s stock valued at $1,115,000 after acquiring an additional 493 shares during the last quarter. Finally, Paradigm Capital Management LLC NV lifted its position in shares of Exxon Mobil by 1.6% during the 4th quarter. Paradigm Capital Management LLC NV now owns 14,244 shares of the oil and gas company’s stock valued at $1,532,000 after acquiring an additional 227 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Price Performance

Exxon Mobil stock opened at $102.08 on Friday. 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 firm has a market cap of $439.93 billion, a P/E ratio of 13.02, a P/E/G ratio of 3.02 and a beta of 0.51. The business’s fifty day moving average is $106.95 and its two-hundred day moving average is $109.78. Exxon Mobil Co. has a 52 week low of $97.80 and a 52 week high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. The company had revenue of $83.13 billion for the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. Equities research analysts forecast that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Thursday, May 15th. Exxon Mobil’s dividend payout ratio is currently 52.52%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on XOM shares. BMO Capital Markets reduced their target price on Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating for the company in a report on Friday, January 31st. Scotiabank reduced their target price on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. The Goldman Sachs Group reduced their target price on Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Argus upgraded Exxon Mobil to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, HSBC reduced their target price on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $125.50.

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.