ExxonMobil (NYSE:XOM) Shares Down 3.8% – Should You Sell?

ExxonMobil Corporation (NYSE:XOM) fell 3.8% during mid-day trading on Wednesday . The company traded as low as $156.27 and last traded at $156.4440. 18,446,482 shares were traded during trading, a decline of 13% from the average session volume of 21,291,445 shares. The stock had previously closed at $162.55.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil’s Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on XOM. Morgan Stanley decreased their price target on ExxonMobil from $172.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Jefferies Financial Group increased their price target on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Wolfe Research lowered ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. Wells Fargo & Company increased their price target on ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, UBS Group increased their price target on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.95.

ExxonMobil Price Performance

The business has a 50-day moving average price of $155.73 and a 200 day moving average price of $138.83. The company has a market cap of $641.71 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 0.68 and a beta of 0.19. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the prior year, the firm earned $1.76 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts expect that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Friday, May 15th. ExxonMobil’s dividend payout ratio is 69.48%.

Insider Activity at ExxonMobil

In other news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president owned 17,124 shares in the company, valued at approximately $2,662,782. This represents a 5.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On ExxonMobil

Institutional investors and hedge funds have recently modified their holdings of the stock. WNY Asset Management LLC purchased a new stake in shares of ExxonMobil in the first quarter valued at $2,917,000. Segall Bryant & Hamill LLC purchased a new stake in shares of ExxonMobil in the first quarter valued at $34,224,000. Montchanin Asset Management LLC purchased a new stake in shares of ExxonMobil in the first quarter valued at $281,000. BankChampaign National Association purchased a new stake in shares of ExxonMobil in the first quarter valued at $422,000. Finally, Hobbs Group Advisors LLC lifted its holdings in shares of ExxonMobil by 4.6% in the first quarter. Hobbs Group Advisors LLC now owns 5,392 shares of the oil and gas company’s stock valued at $915,000 after purchasing an additional 236 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.