Exxon Mobil (NYSE:XOM) Stock Price Up 3% on Earnings Beat

Shares of Exxon Mobil Co. (NYSE:XOM) rose 3% during mid-day trading on Monday following a stronger than expected earnings report. The stock traded as high as $118.64 and last traded at $118.42. Approximately 3,887,146 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 16,373,870 shares. The stock had previously closed at $114.95.

The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. During the same period in the previous year, the firm earned $2.27 earnings per share. Exxon Mobil’s quarterly revenue was down .8% compared to the same quarter last year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be given a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is presently 45.45%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley cut their target price on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday. Bank of America began coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective on the stock. BMO Capital Markets boosted their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Mizuho lifted their price target on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, September 16th. Finally, BNP Paribas downgraded Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.95.

Hedge Funds Weigh In On Exxon Mobil

Large investors have recently made changes to their positions in the stock. FPC Investment Advisory Inc. purchased a new stake in shares of Exxon Mobil during the 1st quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in shares of Exxon Mobil in the second quarter valued at $35,000. Anfield Capital Management LLC raised its stake in shares of Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after buying an additional 252 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Exxon Mobil in the 2nd quarter valued at about $39,000. Finally, POM Investment Strategies LLC increased its holdings in Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Up 3.0 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The business’s 50-day simple moving average is $117.67 and its 200-day simple moving average is $116.33. The company has a market cap of $466.93 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 4.86 and a beta of 0.90.

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.