Piper Sandler Cuts Exxon Mobil (NYSE:XOM) Price Target to $127.00

Exxon Mobil (NYSE:XOM) had its target price trimmed by Piper Sandler from $138.00 to $127.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

A number of other brokerages have also weighed in on XOM. Wolfe Research boosted their target price on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. TD Cowen decreased their target price on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Morgan Stanley cut their price objective on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Truist Financial lowered their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, Barclays cut their price target 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.74.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $105.87 on Thursday. The business has a fifty day simple moving average of $117.21 and a two-hundred day simple moving average of $116.13. The firm has a market capitalization of $465.31 billion, a P/E ratio of 13.18, a P/E/G ratio of 4.70 and a beta of 0.89. 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 has a 12 month low of $95.77 and a 12 month high of $126.34.

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

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.74%. The ex-dividend date was Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is 49.32%.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds have recently added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new stake in shares of Exxon Mobil in the second quarter valued at about $35,000. Anfield Capital Management LLC boosted its stake in shares of Exxon Mobil by 360.0% during the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares in the last quarter. Fairscale Capital LLC purchased a new position in Exxon Mobil during the second quarter valued at approximately $39,000. POM Investment Strategies LLC raised its stake in Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after buying an additional 340 shares in the last quarter. Finally, Hershey Financial Advisers LLC purchased a new stake in Exxon Mobil during the second quarter worth $46,000. 61.80% of the stock is currently owned by institutional investors.

About Exxon Mobil

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.