Exxon Mobil (NYSE:XOM) Given New $115.00 Price Target at Royal Bank of Canada

Exxon Mobil (NYSE:XOM) had its price target trimmed by Royal Bank of Canada from $120.00 to $115.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on XOM. Wells Fargo & Company increased their target price on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Morgan Stanley lowered their price objective on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Truist Financial decreased their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, The Goldman Sachs Group lifted their price target on shares of Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Stock Down 1.7 %

Shares of Exxon Mobil stock opened at $117.98 on Tuesday. The stock has a 50-day simple moving average of $119.61 and a 200-day simple moving average of $116.56. Exxon Mobil has a 52-week low of $95.77 and a 52-week high of $126.34. The firm has a market cap of $518.53 billion, a price-to-earnings ratio of 14.69, a P/E/G ratio of 5.10 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.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned $2.27 earnings per share. The company’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts expect that Exxon Mobil will post 7.96 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.36%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, November 14th. Exxon Mobil’s dividend payout ratio is presently 49.32%.

Institutional Trading of Exxon Mobil

Hedge funds and other institutional investors have recently modified their holdings of the stock. Synovus Financial Corp raised its position in shares of Exxon Mobil by 78.8% during the third quarter. Synovus Financial Corp now owns 671,376 shares of the oil and gas company’s stock worth $78,699,000 after acquiring an additional 295,988 shares during the last quarter. Castellan Group lifted its position in Exxon Mobil by 90.5% during the 3rd quarter. Castellan Group now owns 23,085 shares of the oil and gas company’s stock valued at $2,706,000 after purchasing an additional 10,970 shares during the period. Destination Wealth Management boosted its stake in shares of Exxon Mobil by 22.5% in the 3rd quarter. Destination Wealth Management now owns 6,130 shares of the oil and gas company’s stock valued at $719,000 after purchasing an additional 1,124 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Exxon Mobil by 90.3% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 380,693 shares of the oil and gas company’s stock worth $44,625,000 after buying an additional 180,684 shares during the period. Finally, Arvest Bank Trust Division bought a new stake in shares of Exxon Mobil during the third quarter worth approximately $3,153,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

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.