Exxon Mobil (NYSE:XOM) Trading Up 1.5% – Here’s What Happened

Exxon Mobil Co. (NYSE:XOM)’s share price shot up 1.5% during mid-day trading on Tuesday . The stock traded as high as $107.47 and last traded at $107.30. 2,475,743 shares were traded during mid-day trading, a decline of 85% from the average session volume of 16,263,812 shares. The stock had previously closed at $105.76.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on XOM. The Goldman Sachs Group boosted their price objective on Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. BMO Capital Markets increased their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. Morgan Stanley lowered their target price on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Finally, Piper Sandler reduced their price target on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.74.

Exxon Mobil Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $472.78 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 4.65 and a beta of 0.89. The company has a 50 day simple moving average of $114.94 and a 200-day simple moving average of $115.83.

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 (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 company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. During the same period last year, the company earned $2.27 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year. Research analysts expect that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were paid a $0.99 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.68%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vertex Planning Partners LLC increased its position in Exxon Mobil by 3.1% during the third quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock worth $326,000 after buying an additional 83 shares during the last quarter. Etfidea LLC raised its stake in Exxon Mobil by 3.3% in the 2nd quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 85 shares during the period. Bigelow Investment Advisors LLC lifted its holdings in Exxon Mobil by 0.6% during the 2nd quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock valued at $1,559,000 after purchasing an additional 86 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in Exxon Mobil by 15.2% during the second quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 87 shares during the period. Finally, First Heartland Consultants Inc. increased its holdings in shares of Exxon Mobil by 0.9% in the third quarter. First Heartland Consultants Inc. now owns 9,451 shares of the oil and gas company’s stock valued at $1,108,000 after purchasing an additional 87 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

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.