Exxon Mobil (NYSE:XOM) Price Target Raised to $119.00

Exxon Mobil (NYSE:XOM) had its price target hoisted by Truist Financial from $117.00 to $119.00 in a report published on Monday,Benzinga reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

Several other research analysts have also weighed in on the company. TD Cowen lowered their price objective on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and set a $115.00 price target on shares of Exxon Mobil in a research report on Thursday, December 12th. Barclays lowered their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Mizuho lowered their price target on Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, Morgan Stanley decreased their target price on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $128.84.

Exxon Mobil Price Performance

Shares of Exxon Mobil stock opened at $111.44 on Monday. The business has a 50 day simple moving average of $113.12 and a two-hundred day simple moving average of $115.58. Exxon Mobil has a 12 month low of $95.77 and a 12 month high of $126.34. The stock has a market capitalization of $489.79 billion, a P/E ratio of 13.88, a PEG ratio of 4.65 and a beta of 0.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The firm had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter last year, the firm earned $2.27 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts predict that Exxon Mobil will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were paid a $0.99 dividend. The ex-dividend date was Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.55%. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

Institutional Trading of Exxon Mobil

Hedge funds and other institutional investors have recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Exxon Mobil by 10.7% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock worth $5,532,000 after buying an additional 4,578 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Exxon Mobil by 79.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after acquiring an additional 380,399 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Exxon Mobil by 64.6% during the 2nd quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock worth $111,392,000 after buying an additional 379,747 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Exxon Mobil by 4.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 133,140 shares of the oil and gas company’s stock worth $15,607,000 after buying an additional 5,985 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in Exxon Mobil by 36.8% during the 3rd quarter. Brooklyn Investment Group now owns 25,127 shares of the oil and gas company’s stock worth $2,945,000 after purchasing an additional 6,753 shares during the period. Institutional investors and hedge funds 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.