Summit Securities Group LLC Has $693,000 Position in ExxonMobil Corporation $XOM

Summit Securities Group LLC lessened its position in ExxonMobil Corporation (NYSE:XOM) by 57.7% during the 1st quarter, Holdings Channel reports. The firm owned 4,087 shares of the oil and gas company’s stock after selling 5,575 shares during the quarter. Summit Securities Group LLC’s holdings in ExxonMobil were worth $693,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE boosted its position in ExxonMobil by 2.0% in the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after buying an additional 1,457,560 shares in the last quarter. Norges Bank bought a new stake in ExxonMobil during the fourth quarter worth about $7,625,063,000. Bank of New York Mellon Corp increased its holdings in shares of ExxonMobil by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after buying an additional 531,362 shares in the last quarter. Northern Trust Corp raised its stake in shares of ExxonMobil by 1.0% in the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after acquiring an additional 445,283 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ExxonMobil by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after acquiring an additional 293,446 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: WTI crude rising above $80 is a favorable setup for ExxonMobil’s upstream business, lifting expectations for stronger margins and cash flow from its oil production operations. Oil Crosses $80 Again: Can ExxonMobil’s Upstream Business Thrive?
• Positive Sentiment: Rising U.S.-Iran tensions have supported energy prices broadly, which tends to benefit ExxonMobil as an integrated oil major with significant crude production exposure. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: ExxonMobil is being highlighted as one of the stocks most likely to benefit if gasoline prices remain elevated, reinforcing the market’s view that the company can capitalize on stronger energy pricing. 5 Stocks Poised to Benefit the Most When US Gas Prices Soar
• Neutral Sentiment: The stock is drawing extra attention from traders and Zacks users, but this appears to reflect increased interest rather than a new company-specific catalyst. Here is What to Know Beyond Why ExxonMobil Holdings Corporation (XOM) is a Trending Stock
• Neutral Sentiment: Broader energy-sector articles note that crude’s rebound is lifting oil stocks generally, which is supportive for XOM but not unique to the company. Shell, BP, and other energy stocks jump as crude oil prices rebound
• Negative Sentiment: There were also market-wide headlines about U.S. strikes and escalating conflict, which can keep volatility elevated and create uncertainty around energy markets even as they support oil prices. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

ExxonMobil Stock Performance

XOM stock opened at $145.04 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The company has a 50 day moving average price of $145.82 and a 200 day moving average price of $145.93. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The stock has a market capitalization of $601.18 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.59 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 EPS. Analysts forecast that ExxonMobil Corporation will post 11.48 EPS for the current year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio is 69.48%.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of research analyst reports. Wolfe Research lowered ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Barclays lifted their price objective on ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley reduced their price objective on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. TD Cowen lowered their target price on ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Finally, Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.45.

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.