ExxonMobil Corporation (NYSE:XOM – Get Free Report) shot up 3.2% during trading on Friday . The company traded as high as $158.00 and last traded at $157.7150. 27,842,533 shares traded hands during mid-day trading, an increase of 30% from the average session volume of 21,341,398 shares. The stock had previously closed at $152.78.
ExxonMobil News Summary
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil’s Energy Business?
- Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
- Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana’s Canje block after four-year absence
- Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
- Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on XOM. Piper Sandler cut their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Mizuho upped their target price on ExxonMobil from $140.00 to $162.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. BNP Paribas Exane set a $165.00 target price on ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. Jefferies Financial Group upped their target price on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Finally, Wolfe Research lowered ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.95.
ExxonMobil Stock Up 3.2%
The business has a 50-day simple moving average of $155.05 and a two-hundred day simple moving average of $137.45. The stock has a market capitalization of $653.72 billion, a P/E ratio of 26.60, a PEG ratio of 0.69 and a beta of 0.19. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.
ExxonMobil (NYSE:XOM – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that ExxonMobil Corporation will post 11.5 earnings per share for the current fiscal year.
ExxonMobil Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, May 15th. ExxonMobil’s dividend payout ratio is 69.48%.
Insiders Place Their Bets
In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the sale, the vice president directly owned 17,124 shares in the company, valued at $2,662,782. This represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by company insiders.
Institutional Trading of ExxonMobil
Several large investors have recently made changes to their positions in the business. Impact Partnership Wealth LLC grew its holdings in shares of ExxonMobil by 0.6% during the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 67 shares during the last quarter. Cardinal Strategic Wealth Guidance grew its holdings in shares of ExxonMobil by 1.9% during the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock worth $631,000 after purchasing an additional 68 shares during the last quarter. ICW Investment Advisors LLC grew its holdings in shares of ExxonMobil by 0.3% during the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after purchasing an additional 69 shares during the last quarter. Swisher Financial Concepts Inc. grew its holdings in shares of ExxonMobil by 0.3% during the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after purchasing an additional 69 shares during the last quarter. Finally, Brown Shipley& Co Ltd grew its holdings in shares of ExxonMobil by 5.4% during the first quarter. Brown Shipley& Co Ltd now owns 1,336 shares of the oil and gas company’s stock worth $227,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.
ExxonMobil Company Profile
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.
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