ExxonMobil Corporation (NYSE:XOM – Get Free Report)’s share price was up 2% during mid-day trading on Thursday . The company traded as high as $154.87 and last traded at $154.6070. Approximately 11,806,768 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 19,419,975 shares. The stock had previously closed at $151.63.
Key Stories Impacting ExxonMobil
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Higher crude prices and record refining margins are supporting ExxonMobil’s near-term cash generation. Analysts also point to strong production growth, a solid balance sheet and a potentially discounted valuation despite the company’s second-quarter earnings miss. Zacks Analyst Blog Highlights ExxonMobil, Chevron and BP
- Positive Sentiment: ExxonMobil selected Sercel’s Marlin software for its Whiptail development in Guyana. The platform is intended to coordinate pipe-laying and mooring activities, supporting execution of a major growth project in one of the company’s most important upstream regions. ExxonMobil selects Sercel’s Marlin software suite for Whiptail project
- Neutral Sentiment: ExxonMobil has reportedly linked a potential $80 billion expansion of Kazakhstan’s Kashagan oil field to resolving a long-running dispute with the government and international companies. A settlement could create substantial long-term growth, but the investment remains uncertain until the dispute is resolved. Exxon Links New $80 Billion Kazakh Oil Venture to Ending Dispute
- Neutral Sentiment: Analyst sentiment is mixed: Freedom Capital moved ExxonMobil from “strong sell” to “hold,” while DZ Bank lowered its stock rating. A separate analysis described compelling growth potential but emphasized execution and commodity-price risks. ExxonMobil upgraded by Freedom Capital
- Negative Sentiment: President Donald Trump is pressuring ExxonMobil and Chevron to reduce gasoline prices, arguing that the companies benefited excessively from higher crude prices. The comments increase regulatory and political scrutiny and could weigh on margins or shareholder returns if they lead to pricing restrictions. President Trump Pressures Exxon, Chevron to Lower Gas Prices
Analysts Set New Price Targets
A number of research firms recently weighed in on XOM. JPMorgan Chase & Co. increased their price objective on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Wells Fargo & Company restated an “overweight” rating and issued a $182.00 price objective on shares of ExxonMobil in a report on Monday. Scotiabank boosted their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. HSBC set a $158.00 price target on shares of ExxonMobil in a research report on Monday. Finally, Zacks Research downgraded ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $162.95.
ExxonMobil Stock Performance
The stock has a market cap of $640.84 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17. The stock has a fifty day moving average of $145.82 and a 200-day moving average of $149.30. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12.
ExxonMobil (NYSE:XOM – Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The company had revenue of $114.53 billion for the quarter, compared to analysts’ expectations of $109.94 billion. During the same period in the prior year, the company earned $1.64 earnings per share. On average, equities analysts forecast that ExxonMobil Corporation will post 11.54 EPS for the current year.
ExxonMobil Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, August 17th. ExxonMobil’s dividend payout ratio (DPR) is 53.02%.
Institutional Trading of ExxonMobil
Several hedge funds have recently made changes to their positions in XOM. Impact Partnership Wealth LLC raised 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 acquiring an additional 67 shares in the last quarter. Cardinal Strategic Wealth Guidance grew its stake in ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 68 shares in the last quarter. Core Wealth Advisors Inc. increased its position in ExxonMobil by 1.0% in the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 68 shares during the last quarter. ICW Investment Advisors LLC raised its stake in shares of ExxonMobil by 0.3% during the 4th 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 in the last quarter. Finally, Swisher Financial Concepts Inc. lifted its holdings in shares of ExxonMobil by 0.3% during the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock valued at $4,649,000 after buying an additional 69 shares during the last quarter. 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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