Zacks Research Brokers Cut Earnings Estimates for Exxon Mobil Co. (NYSE:XOM)

Exxon Mobil Co. (NYSE:XOM) – Research analysts at Zacks Research decreased their Q3 2024 EPS estimates for shares of Exxon Mobil in a research note issued on Thursday, September 19th. Zacks Research analyst R. Department now anticipates that the oil and gas company will earn $1.95 per share for the quarter, down from their previous estimate of $2.13. The consensus estimate for Exxon Mobil’s current full-year earnings is $8.36 per share. Zacks Research also issued estimates for Exxon Mobil’s Q4 2024 earnings at $1.77 EPS, FY2024 earnings at $7.91 EPS, Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $2.13 EPS, Q3 2025 earnings at $2.12 EPS, Q4 2025 earnings at $2.42 EPS, FY2025 earnings at $8.61 EPS, Q1 2026 earnings at $2.26 EPS and FY2026 earnings at $9.41 EPS.

XOM has been the subject of several other research reports. Mizuho raised their price objective on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. UBS Group dropped their price target on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Barclays cut their price objective on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a research note on Tuesday, July 9th. Finally, Wolfe Research initiated coverage on Exxon Mobil in a research report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price target on the stock. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.76.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $115.27 on Monday. The stock has a market capitalization of $454.51 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 4.38 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The business has a 50-day moving average of $115.88 and a 200 day moving average of $115.46. Exxon Mobil has a 12 month low of $95.77 and a 12 month high of $123.75.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.04 by $0.10. The business had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period last year, the business posted $1.94 earnings per share.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.30%. Exxon Mobil’s dividend payout ratio is currently 46.57%.

Institutional Trading of Exxon Mobil

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in Exxon Mobil by 532.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Global Assets Advisory LLC increased its holdings in shares of Exxon Mobil by 16,399.4% in the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after purchasing an additional 12,540,435 shares during the period. Fisher Asset Management LLC raised its stake in shares of Exxon Mobil by 565.3% during the fourth quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock worth $1,317,817,000 after purchasing an additional 11,199,696 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of Exxon Mobil during the second quarter worth $980,210,000. Finally, Capital International Investors grew its position in Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

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.