ExxonMobil (NYSE:XOM) Stock Price Down 4.2% – Here’s Why

ExxonMobil Corporation (NYSE:XOM) was down 4.2% during mid-day trading on Monday . The company traded as low as $137.72 and last traded at $140.8560. Approximately 23,471,546 shares changed hands during trading, an increase of 14% from the average daily volume of 20,533,922 shares. The stock had previously closed at $147.01.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on XOM shares. Wells Fargo & Company lifted their price target on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Scotiabank lifted their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Piper Sandler decreased their price target on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. UBS Group lifted their price target on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Bank of America lifted their price target on ExxonMobil from $135.00 to $151.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $165.55.

ExxonMobil Price Performance

The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $583.84 billion, a PE ratio of 23.75, a P/E/G ratio of 0.62 and a beta of 0.16. The company has a fifty day moving average price of $152.09 and a two-hundred day moving average price of $142.55.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the previous year, the business earned $1.76 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s payout ratio is presently 69.48%.

Institutional Trading of ExxonMobil

Several institutional investors and hedge funds have recently made changes to their positions in the company. Capital Investment Advisors LLC increased its stake in shares of ExxonMobil by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock valued at $27,857,000 after purchasing an additional 14,233 shares during the period. New Age Alpha Advisors LLC increased its stake in shares of ExxonMobil by 5.6% in the third quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company’s stock valued at $18,778,000 after purchasing an additional 8,853 shares during the period. Roberts Capital Advisors LLC acquired a new stake in shares of ExxonMobil in the third quarter valued at approximately $1,240,000. Midland Wealth Advisors LLC increased its stake in shares of ExxonMobil by 95.0% in the third quarter. Midland Wealth Advisors LLC now owns 44,675 shares of the oil and gas company’s stock valued at $5,037,000 after purchasing an additional 21,766 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of ExxonMobil by 9.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 410,046 shares of the oil and gas company’s stock valued at $46,233,000 after purchasing an additional 33,950 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

ExxonMobil Company Profile

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.