Morgan Stanley Cuts Exxon Mobil (NYSE:XOM) Price Target to $138.00

Exxon Mobil (NYSE:XOM) had its price objective reduced by Morgan Stanley from $141.00 to $138.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

XOM has been the topic of several other reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 target price on shares of Exxon Mobil in a research report on Monday, February 3rd. Truist Financial boosted their price target on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a report on Monday, January 13th. Piper Sandler reduced their price target on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. TD Cowen reduced their price objective on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Finally, Mizuho lowered their target price on shares of Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.05.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $117.66 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $110.73 and its 200-day moving average price is $113.71. The firm has a market cap of $510.53 billion, a P/E ratio of 15.01, a P/E/G ratio of 3.02 and a beta of 0.83. Exxon Mobil has a 12 month low of $103.67 and a 12 month high of $126.34.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same quarter in the previous year, the company posted $2.48 EPS. On average, equities research analysts expect that Exxon Mobil will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the transaction, the vice president now directly owns 18,087 shares in the company, valued at $1,989,570. The trade was a 10.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Exxon Mobil

Several hedge funds have recently bought and sold shares of XOM. 10Elms LLP purchased a new stake in Exxon Mobil during the 4th quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in shares of Exxon Mobil during the fourth quarter worth about $31,000. Capital A Wealth Management LLC acquired a new position in shares of Exxon Mobil in the fourth quarter valued at approximately $32,000. Keystone Financial Group Inc. purchased a new position in shares of Exxon Mobil during the fourth quarter valued at approximately $36,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Exxon Mobil during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

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.