Summit Financial Wealth Advisors LLC Sells 295 Shares of Exxon Mobil Co. (NYSE:XOM)

Summit Financial Wealth Advisors LLC reduced its stake in Exxon Mobil Co. (NYSE:XOM) by 0.6% during the third quarter, Holdings Channel.com reports. The firm owned 49,594 shares of the oil and gas company’s stock after selling 295 shares during the quarter. Exxon Mobil accounts for approximately 1.1% of Summit Financial Wealth Advisors LLC’s holdings, making the stock its 26th largest position. Summit Financial Wealth Advisors LLC’s holdings in Exxon Mobil were worth $5,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Patron Partners LLC raised its stake in Exxon Mobil by 7.4% during the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after acquiring an additional 2,564 shares during the period. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Exxon Mobil by 10.7% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock valued at $5,532,000 after buying an additional 4,578 shares in the last quarter. YHB Investment Advisors Inc. boosted its holdings in Exxon Mobil by 5.9% in the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after buying an additional 1,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Exxon Mobil by 79.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock worth $98,914,000 after buying an additional 380,399 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Exxon Mobil by 64.6% during the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after acquiring an additional 379,747 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. Wolfe Research upped their price target on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a research report on Wednesday, October 9th. Finally, Mizuho lifted their price target on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $130.21.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $119.97 on Tuesday. Exxon Mobil Co. has a 52 week low of $95.77 and a 52 week high of $126.34. The company has a market capitalization of $527.28 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 5.10 and a beta of 0.90. The stock’s fifty day moving average is $119.53 and its two-hundred day moving average is $116.56. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

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, topping the consensus estimate of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.27 EPS. As a group, analysts expect that Exxon Mobil Co. will post 7.96 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be issued a $0.99 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.30%. Exxon Mobil’s payout ratio is presently 49.32%.

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.