Truist Financial Trims Exxon Mobil (NYSE:XOM) Target Price to $117.00

Exxon Mobil (NYSE:XOM) had its price objective trimmed by Truist Financial from $121.00 to $117.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

XOM has been the topic of several other research reports. Morgan Stanley lowered their target price on Exxon Mobil from $145.00 to $142.00 and set an overweight rating on the stock in a research note on Monday, September 16th. Redburn Atlantic reaffirmed a neutral rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an overweight rating in a research note on Friday, September 27th. Wolfe Research began coverage on Exxon Mobil in a research note on Thursday, July 18th. They set an outperform rating and a $146.00 target price on the stock. Finally, Evercore ISI raised Exxon Mobil to a strong-buy rating in a research note on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $134.75.

Exxon Mobil Trading Up 1.3 %

Shares of XOM opened at $121.49 on Monday. The business’s 50-day moving average price is $116.06 and its 200 day moving average price is $115.85. 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 $479.04 billion, a P/E ratio of 14.89, a P/E/G ratio of 4.86 and a beta of 0.90. Exxon Mobil has a 1-year low of $95.77 and a 1-year high of $123.75.

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 (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. The firm had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. Analysts expect that Exxon Mobil will post 8.06 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.13%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. J. W. Coons Advisors LLC increased its stake in shares of Exxon Mobil by 0.5% in the fourth quarter. J. W. Coons Advisors LLC now owns 39,609 shares of the oil and gas company’s stock valued at $3,960,000 after buying an additional 208 shares in the last quarter. Eagle Asset Management Inc. increased its stake in shares of Exxon Mobil by 0.6% in the fourth quarter. Eagle Asset Management Inc. now owns 93,495 shares of the oil and gas company’s stock valued at $9,348,000 after buying an additional 593 shares in the last quarter. Prudent Man Advisors LLC acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at $623,000. CWA Asset Management Group LLC increased its position in Exxon Mobil by 23.4% in the fourth quarter. CWA Asset Management Group LLC now owns 28,191 shares of the oil and gas company’s stock worth $2,819,000 after purchasing an additional 5,349 shares during the period. Finally, Hudson Edge Investment Partners Inc. increased its position in Exxon Mobil by 2.7% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 52,604 shares of the oil and gas company’s stock worth $5,259,000 after purchasing an additional 1,376 shares during the period. 61.80% of the stock is owned by institutional investors.

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.