Exxon Mobil (NYSE:XOM) Trading 0.1% Higher – Here’s Why

Exxon Mobil Co. (NYSE:XOM) rose 0.1% on Wednesday . The company traded as high as $107.19 and last traded at $106.40. Approximately 7,806,997 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 16,385,684 shares. The stock had previously closed at $106.30.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on XOM shares. Wolfe Research raised their target price on shares of Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Piper Sandler cut their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their price target on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Finally, Bank of America assumed coverage on Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.74.

Exxon Mobil Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $116.57 and its two-hundred day moving average price is $116.05. The stock has a market cap of $467.64 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 4.70 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.01. The business had revenue of $90.02 billion for 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%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.27 EPS. As a group, sell-side analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.72%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is currently 49.32%.

Institutional Trading of Exxon Mobil

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Eagle Capital Management LLC increased its position in 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 in the last quarter. Bank of New York Mellon Corp boosted its stake in Exxon Mobil by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after purchasing an additional 4,080,716 shares in the last quarter. Ackerman Capital Advisors LLC boosted its stake in Exxon Mobil by 31.1% in the 2nd quarter. Ackerman Capital Advisors LLC now owns 19,094 shares of the oil and gas company’s stock worth $2,198,000 after purchasing an additional 4,529 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in Exxon Mobil by 2.6% during the 2nd quarter. Verdence Capital Advisors LLC now owns 103,059 shares of the oil and gas company’s stock valued at $11,864,000 after purchasing an additional 2,627 shares in the last quarter. Finally, Bailard Inc. increased its stake in Exxon Mobil by 61.3% during the 2nd quarter. Bailard Inc. now owns 46,854 shares of the oil and gas company’s stock valued at $5,394,000 after purchasing an additional 17,808 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

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.