Exxon Mobil (NYSE:XOM) Shares Down 0.2% – Here’s Why

Exxon Mobil Co. (NYSE:XOM) shares fell 0.2% during trading on Wednesday . The stock traded as low as $120.80 and last traded at $121.85. 2,295,823 shares were traded during mid-day trading, a decline of 86% from the average session volume of 16,769,000 shares. The stock had previously closed at $122.04.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Sanford C. Bernstein dropped their price target on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. UBS Group cut their price objective on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Barclays decreased their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Morgan Stanley reduced their target price on shares of Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Truist Financial lowered their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.72.

Exxon Mobil Price Performance

The firm has a 50-day moving average of $116.58 and a 200 day moving average of $116.17. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The company has a market capitalization of $482.86 billion, a PE ratio of 14.95, a PEG ratio of 4.86 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the company posted $1.94 earnings per share. As a group, research analysts anticipate that Exxon Mobil Co. will post 8.06 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date was Thursday, August 15th. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Institutional Investors Weigh In On Exxon Mobil

A number of institutional investors have recently added to or reduced their stakes in XOM. Massachusetts Financial Services Co. MA lifted its position in Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares during the last quarter. Global Assets Advisory LLC lifted its holdings in shares of Exxon Mobil by 16,399.4% in the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after acquiring an additional 12,540,435 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Exxon Mobil by 565.3% during the 4th quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock worth $1,317,817,000 after purchasing an additional 11,199,696 shares during the period. Primecap Management Co. CA bought a new position in shares of Exxon Mobil during the second quarter valued at approximately $980,210,000. Finally, Capital International Investors raised its holdings in shares of Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after buying an additional 5,523,429 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.