Exxon Mobil (NYSE:XOM) Trading Down 0.1% on Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price traded down 0.1% during mid-day trading on Thursday after Piper Sandler lowered their price target on the stock from $138.00 to $127.00. Piper Sandler currently has an overweight rating on the stock. Exxon Mobil traded as low as $106.20 and last traded at $106.33. 3,832,345 shares were traded during mid-day trading, a decline of 76% from the average session volume of 16,268,445 shares. The stock had previously closed at $106.42.

XOM has been the topic of several other research reports. Barclays dropped their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Redburn Atlantic restated a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price target on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday. Truist Financial cut their price objective on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Bank of America started coverage on Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and an average price target of $128.74.

Hedge Funds Weigh In On Exxon Mobil

Institutional investors have recently added to or reduced their stakes in the stock. Eagle Capital Management LLC raised its position in shares of Exxon Mobil by 4.9% during the 2nd quarter. Eagle Capital Management LLC now owns 2,460 shares of the oil and gas company’s stock valued at $283,000 after buying an additional 114 shares during the period. Centennial Wealth Advisory LLC grew its holdings in shares of Exxon Mobil by 7.1% during the 2nd quarter. Centennial Wealth Advisory LLC now owns 5,533 shares of the oil and gas company’s stock worth $637,000 after purchasing an additional 366 shares during the period. Aaron Wealth Advisors LLC raised its holdings in Exxon Mobil by 8.5% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 21,946 shares of the oil and gas company’s stock valued at $2,526,000 after buying an additional 1,719 shares during the period. Capital Advisory Group Advisory Services LLC lifted its position in Exxon Mobil by 67.8% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 5,479 shares of the oil and gas company’s stock valued at $631,000 after buying an additional 2,214 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its position in shares of Exxon Mobil by 8.4% during the second quarter. Atria Wealth Solutions Inc. now owns 260,315 shares of the oil and gas company’s stock valued at $29,968,000 after acquiring an additional 20,078 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35. The stock’s 50-day moving average is $117.92 and its two-hundred day moving average is $116.24. The stock has a market cap of $464.52 billion, a PE ratio of 13.16, a PEG ratio of 4.70 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last announced its 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 company had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the business posted $2.27 EPS. On average, equities analysts predict that Exxon Mobil Co. will post 7.95 earnings per share for the current 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 given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.75%. The ex-dividend date was Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

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.