ExxonMobil Corporation (NYSE:XOM – Get Free Report)’s stock price fell 2.7% during mid-day trading on Thursday after Mizuho lowered their price target on the stock from $175.00 to $170.00. Mizuho currently has a neutral rating on the stock. ExxonMobil traded as low as $137.12 and last traded at $137.3050. 14,010,279 shares traded hands during trading, a decline of 31% from the average session volume of 20,229,641 shares. The stock had previously closed at $141.13.
Several other analysts have also recently commented on the company. Barclays raised their target price on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Jefferies Financial Group increased their price objective on ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Royal Bank Of Canada restated a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. HSBC upped their target price on ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a report on Friday, March 20th. Finally, Zacks Research lowered shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.45.
Check Out Our Latest Report on XOM
Key ExxonMobil News
- Positive Sentiment: ExxonMobil signaled that higher oil prices should significantly boost its second-quarter upstream earnings, with commodity tailwinds helping offset some disruption from geopolitical conflict. Reuters: Exxon Mobil signals higher second-quarter earnings
- Positive Sentiment: Reports indicate Exxon’s Q2 profit could jump sharply as crude prices rise and refining/upstream margins improve, which supports the stock’s recent rebound. Zacks: Strong Commodity Tailwinds Poised to Boost XOM’s Q2 Results
- Positive Sentiment: ExxonMobil and partners are committing $1 billion to the Usan Infill Project in Nigeria, which is expected to add about 40,000 barrels per day of production and strengthen long-term output growth. Reuters: ExxonMobil to invest $1 billion in Nigeria’s oilfield
Institutional Trading of ExxonMobil
A number of institutional investors have recently bought and sold shares of XOM. Portus Wealth Advisors LLC acquired a new position in ExxonMobil in the first quarter worth approximately $36,000. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil during the 4th quarter worth $26,000. Midwest Capital Advisors LLC acquired a new position in ExxonMobil during the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 187 shares in the last quarter. Finally, Atlantic Private Wealth LLC boosted its stake in shares of ExxonMobil by 776.9% during the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 202 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.
ExxonMobil Stock Performance
The firm has a 50 day moving average price of $146.80 and a 200-day moving average price of $145.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The company has a market cap of $569.12 billion, a P/E ratio of 23.15, a P/E/G ratio of 0.61 and a beta of 0.17.
ExxonMobil (NYSE:XOM – Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, research analysts predict that ExxonMobil Corporation will post 11.64 EPS for the current year.
ExxonMobil Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 69.48%.
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.
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