Exxon Mobil Corporation $XOM Shares Purchased by Summit Global Investments

Summit Global Investments lifted its stake in Exxon Mobil Corporation (NYSE:XOM) by 512.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,872 shares of the oil and gas company’s stock after buying an additional 61,814 shares during the period. Summit Global Investments’ holdings in Exxon Mobil were worth $7,963,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elequin Capital LP purchased a new position in shares of Exxon Mobil in the first quarter valued at $31,000. Clal Insurance Enterprises Holdings Ltd increased its stake in Exxon Mobil by 396.7% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 298 shares of the oil and gas company’s stock worth $35,000 after buying an additional 238 shares during the period. Game Plan Financial Advisors LLC lifted its holdings in Exxon Mobil by 1,500.0% in the 1st quarter. Game Plan Financial Advisors LLC now owns 320 shares of the oil and gas company’s stock worth $38,000 after buying an additional 300 shares in the last quarter. 1248 Management LLC purchased a new position in Exxon Mobil in the 1st quarter valued at about $40,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Exxon Mobil during the second quarter valued at about $38,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Trading Up 0.1%

NYSE XOM opened at $117.08 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. Exxon Mobil Corporation has a one year low of $97.80 and a one year high of $123.21. The company has a 50-day simple moving average of $114.69 and a 200-day simple moving average of $111.13. The firm has a market capitalization of $493.75 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 2.06 and a beta of 0.49.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $57.55 billion for the quarter. On average, equities analysts forecast that Exxon Mobil Corporation will post 7.43 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 14th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, November 14th. This represents a $4.12 dividend on an annualized basis and a yield of 3.5%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s payout ratio is presently 59.88%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on XOM shares. Melius assumed coverage on Exxon Mobil in a research note on Wednesday, August 20th. They issued a “hold” rating and a $111.00 price target on the stock. Piper Sandler lifted their price target on shares of Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Wall Street Zen upgraded shares of Exxon Mobil from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Exxon Mobil in a research note on Wednesday. Finally, Barclays decreased their price target on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.67.

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.