Exxon Mobil Co. (NYSE:XOM) Holdings Decreased by Summit Financial Group Inc.

Summit Financial Group Inc. lowered its holdings in Exxon Mobil Co. (NYSE:XOM) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,160 shares of the oil and gas company’s stock after selling 745 shares during the period. Exxon Mobil comprises about 2.0% of Summit Financial Group Inc.’s investment portfolio, making the stock its 12th biggest holding. Summit Financial Group Inc.’s holdings in Exxon Mobil were worth $5,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Partnership Wealth Management LLC acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at $46,000. Vima LLC acquired a new stake in shares of Exxon Mobil during the 4th quarter valued at $50,000. Orion Capital Management LLC bought a new stake in shares of Exxon Mobil during the 3rd quarter worth $91,000. Keener Financial Planning LLC acquired a new stake in shares of Exxon Mobil during the fourth quarter worth $80,000. Finally, Neo Ivy Capital Management purchased a new stake in shares of Exxon Mobil during the fourth quarter valued at $80,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the transaction, the vice president now directly owns 25,363 shares in the company, valued at $3,018,450.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on XOM. Scotiabank lifted their target price on shares of Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Wells Fargo & Company raised their target price on Exxon Mobil from $138.00 to $142.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Piper Sandler upped their price target on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Mizuho raised their price objective on Exxon Mobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, HSBC upped their target price on Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $133.71.

Exxon Mobil Trading Up 0.9 %

NYSE:XOM opened at $109.38 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $116.09 and its 200-day moving average is $108.96. The firm has a market cap of $431.29 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 3.90 and a beta of 0.92. Exxon Mobil Co. has a 12 month low of $95.77 and a 12 month high of $123.75.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The firm had revenue of $83.08 billion for the quarter, compared to analyst estimates of $79.69 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.83 EPS. Equities analysts anticipate that Exxon Mobil Co. will post 9.36 EPS for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were paid a dividend of $0.95 per share. The ex-dividend date was Tuesday, May 14th. This represents a $3.80 annualized dividend and a yield of 3.47%. Exxon Mobil’s payout ratio is 46.57%.

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.