Wells Fargo & Company Cuts Exxon Mobil (NYSE:XOM) Price Target to $135.00

Exxon Mobil (NYSE:XOM) had its price objective lowered by Wells Fargo & Company from $139.00 to $135.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Several other analysts have also recently issued reports on XOM. Piper Sandler upped their target price on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an overweight rating in a research report on Thursday, April 18th. Wolfe Research began coverage on Exxon Mobil in a research note on Thursday, July 18th. They issued an outperform rating and a $146.00 price objective for the company. Mizuho increased their price target on Exxon Mobil from $125.00 to $128.00 and gave the company a neutral rating in a report on Monday, May 13th. TD Cowen lifted their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Finally, Morgan Stanley reissued an overweight rating and issued a $145.00 target price on shares of Exxon Mobil in a research note on Wednesday, May 15th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $134.39.

Exxon Mobil Price Performance

NYSE:XOM opened at $117.89 on Monday. The business’s 50-day moving average is $114.14 and its 200 day moving average is $112.58. Exxon Mobil has a 12 month low of $95.77 and a 12 month high of $123.75. The company has a market capitalization of $464.84 billion, a P/E ratio of 14.45, a P/E/G ratio of 4.51 and a beta of 0.91. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The firm had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same period in the prior year, the company earned $1.94 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. On average, equities research analysts forecast that Exxon Mobil will post 8.65 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $0.95 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.22%. Exxon Mobil’s dividend payout ratio is currently 46.57%.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds have recently modified their holdings of the business. Hanson & Doremus Investment Management increased its holdings in shares of Exxon Mobil by 1.9% in the 2nd quarter. Hanson & Doremus Investment Management now owns 21,814 shares of the oil and gas company’s stock valued at $2,511,000 after acquiring an additional 410 shares during the period. Clear Investment Research LLC raised its holdings in Exxon Mobil by 34.8% in the second quarter. Clear Investment Research LLC now owns 1,403 shares of the oil and gas company’s stock worth $162,000 after purchasing an additional 362 shares in the last quarter. Wilkins Investment Counsel Inc. lifted its position in shares of Exxon Mobil by 7.5% during the second quarter. Wilkins Investment Counsel Inc. now owns 65,259 shares of the oil and gas company’s stock valued at $7,513,000 after buying an additional 4,565 shares during the last quarter. Spectrum Wealth Counsel LLC grew its position in shares of Exxon Mobil by 795.7% in the 2nd quarter. Spectrum Wealth Counsel LLC now owns 65,093 shares of the oil and gas company’s stock worth $7,493,000 after buying an additional 57,826 shares during the last quarter. Finally, Garrison Asset Management LLC raised its stake in shares of Exxon Mobil by 2.7% during the 2nd quarter. Garrison Asset Management LLC now owns 8,023 shares of the oil and gas company’s stock worth $924,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

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.