ExxonMobil (NYSE:XOM – Free Report) had its target price hoisted by Citigroup from $155.00 to $175.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.
Several other research analysts have also recently commented on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $178.00 target price on shares of ExxonMobil in a research report on Tuesday, October 20th. JPMorgan Chase & Co. boosted their price target on shares of ExxonMobil from $158.00 to $166.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Mizuho dropped their price objective on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. William Blair assumed coverage on shares of ExxonMobil in a report on Wednesday, October 28th. They set a “market perform” rating for the company. Finally, Jefferies Financial Group lifted their target price on shares of ExxonMobil from $184.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $170.38.
Check Out Our Latest Stock Analysis on XOM
ExxonMobil Stock Performance
Shares of XOM stock traded up $0.51 during mid-day trading on Wednesday, reaching $165.81. The stock had a trading volume of 15,867,839 shares, compared to its average volume of 12,226,232. The firm’s 50 day simple moving average is $168.83 and its 200 day simple moving average is $155.41. The company has a quick ratio of 0.92, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. ExxonMobil has a one year low of $114.19 and a one year high of $188.50. The firm has a market cap of $687.28 billion, a PE ratio of 17.04, a P/E/G ratio of 0.90 and a beta of 0.16.
ExxonMobil (NYSE:XOM – Get Free Report) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $0.11. The business had revenue of $110.50 billion for the quarter, compared to analysts’ expectations of $104.89 billion. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. During the same period in the previous year, the business posted $1.88 earnings per share. On average, analysts forecast that ExxonMobil will post 13.34 EPS for the current year.
ExxonMobil Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be given a dividend of $1.07 per share. This is a boost from ExxonMobil’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, November 16th. This represents a $4.28 annualized dividend and a dividend yield of 2.6%. ExxonMobil’s dividend payout ratio is 42.34%.
Institutional Trading of ExxonMobil
A number of large investors have recently bought and sold shares of XOM. Fisher Asset Management LLC raised its stake in ExxonMobil by 1.5% during the third quarter. Fisher Asset Management LLC now owns 31,933,523 shares of the oil and gas company’s stock worth $5,197,181,000 after acquiring an additional 465,409 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ExxonMobil by 5.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock valued at $4,812,790,000 after purchasing an additional 1,540,902 shares in the last quarter. Amundi boosted its stake in shares of ExxonMobil by 5.1% in the 1st quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock valued at $4,158,563,000 after purchasing an additional 1,192,386 shares in the last quarter. GQG Partners LLC grew its holdings in shares of ExxonMobil by 153.3% in the 2nd 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 last quarter. Finally, Swiss National Bank grew its holdings in shares of ExxonMobil by 5.9% in the 1st quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company’s stock worth $2,099,783,000 after purchasing an additional 693,800 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.
Key Headlines Impacting ExxonMobil
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
- Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
- Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
- Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
- Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank
About ExxonMobil
ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products.
The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.
ExxonMobil serves customers and operates in markets around the world.
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