Exxon Mobil (NYSE:XOM) Trading Up 0.5% Following Analyst Upgrade

Shares of Exxon Mobil Co. (NYSE:XOM) rose 0.5% during mid-day trading on Wednesday after TD Cowen raised their price target on the stock from $127.00 to $132.00. TD Cowen currently has a buy rating on the stock. Exxon Mobil traded as high as $119.89 and last traded at $119.21. Approximately 1,837,866 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 16,240,713 shares. The stock had previously closed at $118.63.

A number of other equities research analysts have also recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a report on Wednesday, October 9th. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Wolfe Research upped their target price on Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. Finally, Bank of America assumed coverage on Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.21.

Hedge Funds Weigh In On Exxon Mobil

Several hedge funds and other institutional investors have recently bought and sold shares of XOM. WFA Asset Management Corp increased its stake in Exxon Mobil by 18.2% during the 1st quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock worth $312,000 after buying an additional 414 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in shares of Exxon Mobil in the 1st quarter worth about $933,000. Canada Pension Plan Investment Board boosted its holdings in shares of Exxon Mobil by 461.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 938,562 shares of the oil and gas company’s stock valued at $109,098,000 after buying an additional 771,301 shares during the period. Keeley Teton Advisors LLC lifted its holdings in Exxon Mobil by 4.8% in the first quarter. Keeley Teton Advisors LLC now owns 2,202 shares of the oil and gas company’s stock worth $256,000 after acquiring an additional 100 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. boosted its stake in Exxon Mobil by 894.6% in the first quarter. Bank of Nova Scotia Trust Co. now owns 19,901 shares of the oil and gas company’s stock valued at $2,313,000 after acquiring an additional 17,900 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

The company has a market capitalization of $536.45 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The company has a fifty day moving average price of $119.18 and a 200 day moving average price of $116.51.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the prior year, the firm earned $2.27 EPS. Exxon Mobil’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

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.