Exxon Mobil (NYSE:XOM) Shares Down 0.8% After Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price dropped 0.8% during mid-day trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $130.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Exxon Mobil traded as low as $109.55 and last traded at $109.92. Approximately 3,362,943 shares traded hands during trading, a decline of 79% from the average daily volume of 16,242,136 shares. The stock had previously closed at $110.84.

Several other equities analysts also recently issued reports on XOM. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $129.00 to $145.00 in a report on Thursday, October 10th. BNP Paribas cut shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target for the company. in a report on Wednesday, October 9th. Morgan Stanley lowered their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. Truist Financial cut their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, UBS Group lowered their price target on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.68.

Institutional Investors Weigh In On Exxon Mobil

Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings in Exxon Mobil by 0.3% in the 3rd quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock worth $17,801,457,000 after purchasing an additional 395,218 shares during the period. Geode Capital Management LLC increased its position in shares of Exxon Mobil by 1.8% in the third 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 buying an additional 1,622,064 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after buying an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after buying an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after acquiring an additional 5,235,607 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock 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 firm’s fifty day moving average is $118.23 and its 200 day moving average is $116.30. The company has a market cap of $474.71 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 4.70 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping 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 business had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. As a group, research analysts predict that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is 49.32%.

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.