Exxon Mobil (NYSE:XOM) Trading Down 1.1% on Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s share price was down 1.1% during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $127.00 to $125.00. Piper Sandler currently has an overweight rating on the stock. Exxon Mobil traded as low as $107.93 and last traded at $108.23. Approximately 3,280,481 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 15,526,495 shares. The stock had previously closed at $109.46.

XOM has been the topic of a number of other research reports. UBS Group reduced their target price on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Argus upgraded Exxon Mobil to a “strong-buy” rating in a report on Tuesday, February 4th. Bernstein Bank raised their target price on Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. BMO Capital Markets reduced their target price on Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a report on Friday, January 31st. Finally, Mizuho reduced their target price on Exxon Mobil from $129.00 to $124.00 and set a “neutral” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.50.

Institutional Trading of Exxon Mobil

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XOM. Geode Capital Management LLC boosted its holdings in shares of Exxon Mobil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock worth $10,023,875,000 after buying an additional 1,104,617 shares in the last quarter. Norges Bank bought a new position in shares of Exxon Mobil during the 4th quarter worth approximately $6,936,737,000. Northern Trust Corp boosted its holdings in shares of Exxon Mobil by 7.0% during the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after buying an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Exxon Mobil by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company’s stock worth $5,390,318,000 after buying an additional 1,340,343 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Exxon Mobil by 13.1% during the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after buying an additional 4,140,046 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

The business has a fifty day simple moving average of $109.07 and a 200-day simple moving average of $110.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market capitalization of $467.38 billion, a P/E ratio of 13.83, a PEG ratio of 3.02 and a beta of 0.51.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. The company had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. Exxon Mobil’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $2.06 EPS. Sell-side analysts expect that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Thursday, May 15th. Exxon Mobil’s payout ratio is currently 52.52%.

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.