Exxon Mobil (NYSE:XOM) Trading Down 0.1% Following Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s share price fell 0.1% during trading on Thursday after Piper Sandler lowered their price target on the stock from $138.00 to $127.00. Piper Sandler currently has an overweight rating on the stock. Exxon Mobil traded as low as $106.20 and last traded at $106.33. 3,832,345 shares were traded during mid-day trading, a decline of 76% from the average session volume of 16,268,445 shares. The stock had previously closed at $106.42.

XOM has been the topic of a number of other reports. TD Cowen lowered their price target on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Mizuho lowered their target price on shares of Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company lifted their price target on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. BMO Capital Markets increased their price target on 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, Morgan Stanley cut their price objective on Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.74.

Institutional Trading of Exxon Mobil

Several large investors have recently bought and sold shares of XOM. Garden State Investment Advisory Services LLC grew its holdings in Exxon Mobil by 3.2% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 9,352 shares of the oil and gas company’s stock valued at $1,097,000 after buying an additional 294 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Exxon Mobil during the 3rd quarter valued at about $461,000. American Trust increased its position in Exxon Mobil by 18.7% during the third quarter. American Trust now owns 4,240 shares of the oil and gas company’s stock worth $497,000 after purchasing an additional 667 shares during the last quarter. Old North State Trust LLC boosted its holdings in Exxon Mobil by 7.7% in the 3rd quarter. Old North State Trust LLC now owns 9,480 shares of the oil and gas company’s stock valued at $1,111,000 after purchasing an additional 681 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Exxon Mobil by 16.3% in the 3rd quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after buying an additional 4,415,012 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

The firm has a market cap of $465.31 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 4.70 and a beta of 0.89. The stock’s fifty day moving average price is $117.21 and its 200-day moving average price is $116.10. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

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, beating analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.27 earnings per share. As a group, equities research analysts forecast that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a $0.99 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.74%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is presently 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.