Exxon Mobil (NYSE:XOM) Shares Down 0.7% – Here’s What Happened

Exxon Mobil Co. (NYSE:XOM) fell 0.7% during trading on Thursday . The company traded as low as $119.64 and last traded at $120.21. 2,469,311 shares were traded during trading, a decline of 85% from the average session volume of 16,354,203 shares. The stock had previously closed at $121.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen cut their target price on shares of Exxon Mobil from $130.00 to $127.00 and set a “buy” rating for the company in a research report on Monday. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. UBS Group cut their target price on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Sanford C. Bernstein lowered their price objective on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. boosted their target price on Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $129.95.

Exxon Mobil Trading Up 0.4 %

The firm has a market capitalization of $479.08 billion, a P/E ratio of 14.97, a P/E/G ratio of 4.96 and a beta of 0.90. 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 has a 50-day moving average of $117.78 and a two-hundred day moving average of $116.36.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.27 earnings per share. On average, analysts anticipate that Exxon Mobil Co. will post 7.97 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.26%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is presently 47.32%.

Hedge Funds Weigh In On Exxon Mobil

Several large investors have recently added to or reduced their stakes in XOM. WFA Asset Management Corp increased its stake in Exxon Mobil by 18.2% in the 1st quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock valued at $312,000 after buying an additional 414 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Exxon Mobil during the first quarter valued at $933,000. Financial Counselors Inc. lifted its position in shares of Exxon Mobil by 19.1% during the 1st quarter. Financial Counselors Inc. now owns 483,955 shares of the oil and gas company’s stock valued at $56,255,000 after buying an additional 77,750 shares during the last quarter. Pegasus Asset Management Inc. increased its holdings in Exxon Mobil by 6.3% in the 1st quarter. Pegasus Asset Management Inc. now owns 8,008 shares of the oil and gas company’s stock worth $931,000 after acquiring an additional 473 shares during the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC raised its stake in Exxon Mobil by 6.1% in the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 22,831 shares of the oil and gas company’s stock valued at $2,654,000 after acquiring an additional 1,303 shares during the period. Institutional investors own 61.80% of the company’s stock.

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.