Exxon Mobil (NYSE:XOM) Shares Down 1.1% Following Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM) traded down 1.1% on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $130.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Exxon Mobil traded as low as $106.83 and last traded at $107.27. 3,628,552 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 16,260,027 shares. The stock had previously closed at $108.47.

Other analysts have also issued reports about the company. BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price on the stock. in a report on Wednesday, October 9th. Mizuho cut their price target on shares of Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a report on Monday. Truist Financial decreased their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Barclays cut their target price on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Bank of America began coverage on Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target for the company. One 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.68.

Hedge Funds Weigh In On Exxon Mobil

Hedge funds have recently made changes to their positions in the stock. Fairway Wealth LLC bought a new stake in shares of Exxon Mobil in the 2nd quarter valued at $35,000. Anfield Capital Management LLC grew its holdings in Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 252 shares during the period. Fairscale Capital LLC bought a new position in shares of Exxon Mobil in the 2nd quarter worth about $39,000. POM Investment Strategies LLC lifted its stake in shares of Exxon Mobil by 918.9% in the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 340 shares during the period. Finally, Hershey Financial Advisers LLC bought a new stake in shares of Exxon Mobil during the 2nd quarter valued at about $46,000. 61.80% of the stock is currently owned by institutional investors.

Exxon Mobil Stock Down 1.5 %

The firm has a market cap of $467.73 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 4.70 and a beta of 0.89. The firm has a 50 day moving average of $117.92 and a 200 day moving average of $116.24. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating 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 company had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. During the same quarter in the previous year, the business posted $2.27 EPS. Exxon Mobil’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, sell-side analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.72%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio 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.