Exxon Mobil’s (XOM) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Exxon Mobil (NYSE:XOM) in a report published on Thursday,Benzinga reports. The brokerage currently has a $115.00 price target on the oil and gas company’s stock.

Several other analysts have also weighed in on the company. Wells Fargo & Company increased their price target on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Bank of America started coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. UBS Group dropped their price target on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets increased their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. Finally, Redburn Atlantic reissued a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and a consensus price target of $129.84.

Exxon Mobil Stock Performance

Shares of NYSE:XOM opened at $110.84 on Thursday. The firm has a fifty day simple moving average of $118.85 and a two-hundred day simple moving average of $116.39. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $487.15 billion, a P/E ratio of 13.80, a PEG ratio of 4.70 and a beta of 0.89. Exxon Mobil has a 52 week low of $95.77 and a 52 week high of $126.34.

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

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were given a dividend of $0.99 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.57%. Exxon Mobil’s dividend payout ratio is presently 49.32%.

Institutional Trading of Exxon Mobil

A number of hedge funds have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of Exxon Mobil by 532.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Primecap Management Co. CA bought a new position in Exxon Mobil in the second quarter worth approximately $980,210,000. International Assets Investment Management LLC lifted its holdings in Exxon Mobil by 7,761.0% during the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after buying an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP boosted its position in Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after acquiring an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after acquiring an additional 5,235,607 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.