Shares of ExxonMobil Corporation (NYSE:XOM – Get Free Report) fell 2% on Tuesday . The company traded as low as $160.46 and last traded at $160.7480. 17,238,479 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 19,044,752 shares. The stock had previously closed at $164.05.
Key Stories Impacting ExxonMobil
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Higher oil prices and tight supply support earnings potential. A tightening oil market, including concerns about depleted U.S. strategic reserves and disruptions to Iranian exports, could improve upstream margins and cash flow for ExxonMobil. America’s Strategic Petroleum Reserve Is Running on Fumes
- Positive Sentiment: Permian automation could lift production and reduce costs. Exxon is expanding automated drilling and reportedly plans to automate about half of its Permian Basin rig fleet by 2028. Greater drilling efficiency could support higher output, lower labor costs and improved returns. Focus: Exxon turns to automated drilling in the Permian
- Positive Sentiment: Guyana remains a major growth engine. A new floating production, storage and offloading vessel nearing startup could expand long-term production and cash flow from Guyana, one of ExxonMobil’s highest-growth assets. Is Guyana Becoming an Even Bigger Cash Flow Engine for ExxonMobil?
- Positive Sentiment: Potential chemicals acquisition could broaden Exxon’s portfolio. Exxon is reportedly considering Shell’s U.S. chemicals assets in a transaction valued at as much as $8 billion. The deal could strengthen its chemicals platform and create synergies, although no transaction has been announced. Shell draws interest from bidders including Exxon
- Neutral Sentiment: Analysts see a valuation trade-off. Commentary describes XOM as offering greater sensitivity to elevated oil prices and a comparatively attractive valuation, while smaller energy companies may offer more upside but carry greater risk.
- Negative Sentiment: Guyana operations were temporarily suspended after a fire. A small fire aboard the Liza Unity vessel led ExxonMobil to halt crude offloading and operations temporarily. The incident appears limited, but any prolonged outage could reduce production and raise operational concerns. ExxonMobil temporarily halts operations at Guyana site after fire
- Negative Sentiment: Broad energy-sector weakness is weighing on sentiment. A decline across energy stocks has created near-term pressure, even though ExxonMobil’s strategic outlook remains supported by production growth and disciplined balance-sheet metrics.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. DZ Bank lowered shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 target price for the company. in a report on Tuesday, August 4th. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Sanford C. Bernstein lowered their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Finally, Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, ExxonMobil presently has a consensus rating of “Hold” and a consensus target price of $166.10.
ExxonMobil Stock Down 2.0%
The stock has a market capitalization of $666.29 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 0.65 and a beta of 0.17. The business has a 50-day moving average of $149.04 and a 200-day moving average of $151.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13.
ExxonMobil (NYSE:XOM – Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the previous year, the company earned $1.64 EPS. On average, sell-side analysts expect that ExxonMobil Corporation will post 11.86 EPS for the current year.
ExxonMobil Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil’s dividend payout ratio is currently 53.02%.
Institutional Trading of ExxonMobil
Several institutional investors have recently added to or reduced their stakes in XOM. California State Teachers Retirement System lifted its stake in ExxonMobil by 14,136.6% during the 2nd quarter. California State Teachers Retirement System now owns 696,207,635 shares of the oil and gas company’s stock worth $95,185,508,000 after acquiring an additional 691,317,352 shares in the last quarter. Norges Bank acquired a new position in ExxonMobil in the 4th quarter valued at about $7,625,063,000. GQG Partners LLC increased its stake in ExxonMobil by 153.3% during the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock worth $2,307,497,000 after purchasing an additional 10,214,420 shares during the period. Quantum Portfolio Management LLC acquired a new stake in shares of ExxonMobil during the first quarter worth about $965,932,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of ExxonMobil in the first quarter valued at approximately $766,345,000. Institutional investors and hedge funds 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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