Exxon Mobil (NYSE:XOM) Shares Up 2.1% on Analyst Upgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price was up 2.1% during trading on Friday after Wells Fargo & Company raised their price target on the stock from $135.00 to $136.00. Wells Fargo & Company currently has an overweight rating on the stock. Exxon Mobil traded as high as $115.45 and last traded at $115.18. Approximately 3,183,780 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 16,761,746 shares. The stock had previously closed at $112.80.

Several other equities research analysts have also recently commented on the company. Wolfe Research started coverage on Exxon Mobil in a report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price target for the company. Evercore ISI raised Exxon Mobil to a “strong-buy” rating in a research note on Monday, August 5th. Truist Financial cut their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Barclays cut their target price on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating for the company in a research note on Tuesday, July 9th. Finally, Morgan Stanley cut their target price on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

Institutional Investors Weigh In On Exxon Mobil

A number of institutional investors have recently modified their holdings of the company. Etfidea LLC grew its position in Exxon Mobil by 3.3% in the second quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock worth $307,000 after buying an additional 85 shares during the last quarter. Bigelow Investment Advisors LLC grew its position 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 worth $1,559,000 after purchasing an additional 86 shares in the last quarter. Integral Investment Advisors Inc. grew its position in Exxon Mobil by 2.1% during the 2nd quarter. Integral Investment Advisors Inc. now owns 4,207 shares of the oil and gas company’s stock worth $483,000 after purchasing an additional 87 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in Exxon Mobil by 15.2% during the 2nd 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 in the last quarter. Finally, Mascoma Wealth Management LLC grew its position in Exxon Mobil by 7.0% during the 2nd quarter. Mascoma Wealth Management LLC now owns 1,343 shares of the oil and gas company’s stock worth $155,000 after purchasing an additional 88 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $456.68 billion, a PE ratio of 14.19, a PEG ratio of 4.86 and a beta of 0.90. The firm’s 50-day simple moving average is $115.76 and its two-hundred day simple moving average is $115.66.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The firm had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the previous year, the company posted $1.94 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts expect that Exxon Mobil Co. will post 8.06 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s payout ratio is 46.57%.

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.