Brokers Issue Forecasts for Exxon Mobil FY2024 Earnings

Exxon Mobil Co. (NYSE:XOMFree Report) – Analysts at Scotiabank cut their FY2024 earnings estimates for Exxon Mobil in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the oil and gas company will earn $8.05 per share for the year, down from their previous estimate of $8.80. Scotiabank has a “Sector Outperform” rating and a $145.00 price objective on the stock. The consensus estimate for Exxon Mobil’s current full-year earnings is $7.95 per share. Scotiabank also issued estimates for Exxon Mobil’s FY2025 earnings at $7.35 EPS.

XOM has been the subject of a number of other reports. Truist Financial dropped their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 price target on shares of Exxon Mobil in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price objective 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. Mizuho dropped 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 report on Monday, December 16th. Finally, UBS Group reduced their target price on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $128.74.

View Our Latest Stock Report on Exxon Mobil

Exxon Mobil Stock Down 0.4 %

XOM stock opened at $106.54 on Monday. The firm has a market capitalization of $468.25 billion, a PE ratio of 13.27, a P/E/G ratio of 4.65 and a beta of 0.91. 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 has a twelve month low of $95.77 and a twelve month high of $126.34. The stock’s 50 day moving average is $113.49 and its 200-day moving average is $115.65.

Exxon Mobil (NYSE:XOMGet Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.27 EPS.

Institutional Investors Weigh In On Exxon Mobil

A number of hedge funds and other institutional investors have recently bought and sold shares of XOM. FMR LLC grew its stake in Exxon Mobil by 0.3% during the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after acquiring an additional 395,218 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Exxon Mobil by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock valued at $10,777,735,000 after purchasing an additional 1,622,064 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares during the period. Legal & General Group Plc raised its position in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after buying an additional 5,235,607 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Exxon Mobil by 16.3% during the third 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. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were paid a $0.99 dividend. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. 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%. Exxon Mobil’s dividend payout ratio (DPR) is presently 49.32%.

Exxon Mobil Company Profile

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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.

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Earnings History and Estimates for Exxon Mobil (NYSE:XOM)

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