ExxonMobil Corporation (NYSE:XOM – Get Free Report) shares traded up 3.9% during mid-day trading on Monday . The stock traded as high as $145.23 and last traded at $144.3410. Approximately 18,494,402 shares were traded during trading, a decline of 8% from the average session volume of 20,123,125 shares. The stock had previously closed at $138.88.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. UBS Group upped their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Piper Sandler lowered their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Jefferies Financial Group increased their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 target price on shares of ExxonMobil in a research note on Tuesday, May 5th. Finally, Weiss Ratings cut shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, ExxonMobil has an average rating of “Moderate Buy” and an average price target of $164.45.
Check Out Our Latest Stock Analysis on XOM
ExxonMobil Stock Performance
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, topping the consensus estimate of $0.98 by $0.18. The company 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 firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.76 EPS. As a group, sell-side analysts predict that ExxonMobil Corporation will post 11.69 earnings per share for the current year.
ExxonMobil Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.
Institutional Trading of ExxonMobil
Large investors have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of ExxonMobil by 2.0% in the 4th 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 acquiring an additional 1,457,560 shares during the last quarter. Norges Bank acquired a new stake in shares of ExxonMobil in the fourth quarter valued at $7,625,063,000. Bank of New York Mellon Corp increased its stake in 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 purchasing an additional 531,362 shares during the period. Northern Trust Corp boosted its position in ExxonMobil by 1.0% in the 3rd 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 buying an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in ExxonMobil by 0.9% in the 4th 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 purchasing an additional 293,446 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
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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