ExxonMobil Corporation (NYSE:XOM – Get Free Report) has earned an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $165.70.
Several analysts recently weighed in on the stock. Sanford C. Bernstein cut their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. TD Cowen reiterated a “buy” rating on shares of ExxonMobil in a report on Monday, June 15th. UBS Group lifted their price target on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group lifted their price target on shares of ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, April 9th.
View Our Latest Research Report on ExxonMobil
ExxonMobil Stock Performance
ExxonMobil (NYSE:XOM – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. As a group, research analysts predict that ExxonMobil will post 11.86 EPS for the current year.
ExxonMobil Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio is presently 69.48%.
Institutional Investors Weigh In On ExxonMobil
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake 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 worth $9,043,836,000 after purchasing an additional 1,457,560 shares during the period. Norges Bank purchased a new stake in ExxonMobil in the fourth quarter worth $7,625,063,000. Bank of New York Mellon Corp grew its stake in ExxonMobil by 1.2% in 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 purchasing an additional 531,362 shares during the period. Northern Trust Corp grew its stake in 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 worth $4,963,934,000 after purchasing an additional 445,283 shares during the period. Finally, Franklin Resources Inc. grew its stake in ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after purchasing an additional 2,660,910 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.
ExxonMobil News Summary
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: The U.S. Supreme Court ruled in ExxonMobil’s favor, strengthening its bid to seek compensation for property seized by Cuba and raising the possibility of a future financial recovery. Reuters article on ExxonMobil Cuba compensation ruling
- Positive Sentiment: A second report said the Supreme Court’s decision helps ExxonMobil’s case against CIMEX, reinforcing the market’s view that the ruling could be meaningful for the company. New York Post article on ExxonMobil Cuba compensation ruling
- Neutral Sentiment: Broader energy shares were also trading higher, which may be providing a mild sector tailwind for ExxonMobil. Yahoo Finance sector update
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.
Featured Articles
- Five stocks we like better than ExxonMobil
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
Receive News & Ratings for ExxonMobil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ExxonMobil and related companies with MarketBeat.com's FREE daily email newsletter.
