TD Cowen Lowers Exxon Mobil (NYSE:XOM) Price Target to $127.00

Exxon Mobil (NYSE:XOM) had its price objective cut by TD Cowen from $130.00 to $127.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a buy rating on the oil and gas company’s stock.

XOM has been the subject of a number of other reports. Barclays cut their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Bank of America initiated coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price for the company. Wolfe Research increased their price target on shares of Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. Finally, Wells Fargo & Company raised their target price on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $129.95.

Exxon Mobil Stock Performance

Shares of XOM stock opened at $118.61 on Monday. The firm has a market capitalization of $467.68 billion, a PE ratio of 14.77, a P/E/G ratio of 4.79 and a beta of 0.90. The company has a 50 day moving average price of $117.67 and a 200-day moving average price of $116.33. Exxon Mobil has a 52 week low of $95.77 and a 52 week high of $126.34. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business had revenue of $90.02 billion during the quarter, compared to analyst estimates of $93.98 billion. During the same period in the previous year, the business earned $2.27 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities research analysts expect that Exxon Mobil will post 7.99 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.34%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is presently 47.32%.

Institutional Investors Weigh In On Exxon Mobil

Large investors have recently made changes to their positions in the company. WFA Asset Management Corp raised its stake in Exxon Mobil by 18.2% during the first quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 414 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Exxon Mobil in the 1st quarter valued at about $933,000. Resonant Capital Advisors LLC grew its position in Exxon Mobil by 3.5% in the first quarter. Resonant Capital Advisors LLC now owns 44,850 shares of the oil and gas company’s stock worth $5,212,000 after acquiring an additional 1,530 shares in the last quarter. StoneX Group Inc. increased its stake in Exxon Mobil by 5.9% during the first quarter. StoneX Group Inc. now owns 43,226 shares of the oil and gas company’s stock worth $5,025,000 after acquiring an additional 2,392 shares during the last quarter. Finally, Smith Shellnut Wilson LLC ADV raised its position in Exxon Mobil by 58.6% during the first quarter. Smith Shellnut Wilson LLC ADV now owns 12,031 shares of the oil and gas company’s stock valued at $1,398,000 after purchasing an additional 4,447 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.