ExxonMobil (NYSE:XOM) Stock Jumps 1.8% – Time to Buy?

ExxonMobil Corporation (NYSE:XOM) shares traded up 1.8% on Wednesday. The stock traded as high as $177.43 and last traded at $177.19. Approximately 13,483,169 shares were traded during mid-day trading, a decline of 25% from the average session volume of 18,017,922 shares. The stock had previously closed at $174.08.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Refining margins are the main near-term catalyst. ExxonMobil said stronger margins could add approximately $4.4 billion to $4.5 billion to third-quarter Energy Products earnings versus the second quarter. The update is supporting the stock despite weakness elsewhere in the business. ExxonMobil Stock Rises on Preliminary Earnings That Are Both Good and Bad
• Positive Sentiment: Growth projects remain a longer-term support. Production milestones in Guyana and the Permian Basin are moving key developments toward free cash flow generation. Additional offshore capacity, Permian growth and LNG expansion could strengthen cash flow, although Guyana’s decision to retain associated gas for domestic use may alter project economics. Production Milestones Could Be a Key Catalyst for ExxonMobil Stock
• Positive Sentiment: Morgan Stanley raised its price target to $185 from $177 and maintained an Overweight rating, implying continued confidence in ExxonMobil’s earnings and shareholder-return potential. Morgan Stanley Raises ExxonMobil Price Target
• Neutral Sentiment: ExxonMobil’s low debt and strong balance sheet provide flexibility to fund projects, pursue acquisitions and sustain dividends during oil-price volatility. ExxonMobil’s Strong Balance Sheet Offers Cushion Against Oil Volatility
• Negative Sentiment: Upstream performance is a counterweight to refining gains. Changes in oil prices are expected to reduce upstream results, with ExxonMobil reportedly bracing for an approximately $1.3 billion impact. Reuters characterized the preliminary update as signaling lower third-quarter earnings overall. ExxonMobil Signals Lower Third-Quarter Earnings
• Negative Sentiment: Valuation is becoming a concern near the stock’s 52-week high. Some analysis argues that the shares already reflect substantial optimism, increasing sensitivity to weaker oil prices or disappointing earnings.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on XOM shares. Piper Sandler increased their price objective on shares of ExxonMobil from $158.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. UBS Group set a $172.00 target price on ExxonMobil in a research report on Friday, September 25th. Bank of America lowered ExxonMobil from a “buy” rating to a “neutral” rating and raised their price target for the stock from $154.00 to $158.00 in a research note on Tuesday, July 28th. Freedom Capital raised shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Barclays reduced their target price on shares of ExxonMobil from $182.00 to $177.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Eleven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $165.13.

ExxonMobil Stock Up 2.2%

The company has a market capitalization of $739.65 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 1.03 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The business’s 50 day moving average is $163.32 and its 200 day moving average is $154.41.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The firm had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same period in the previous year, the company earned $1.64 earnings per share. Sell-side analysts anticipate that ExxonMobil Corporation will post 12.52 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 17th were issued a $1.03 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.3%. ExxonMobil’s dividend payout ratio is currently 53.02%.

Institutional Investors Weigh In On ExxonMobil

Institutional investors and hedge funds have recently modified their holdings of the company. Assetmark Inc. grew its position in shares of ExxonMobil by 8.3% during the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock valued at $83,525,000 after acquiring an additional 37,666 shares during the period. Charles Schwab Trust Co raised its holdings in ExxonMobil by 392.9% in the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock worth $16,710,000 after purchasing an additional 97,424 shares during the period. CV Advisors LLC raised its holdings in ExxonMobil by 126.7% in the 2nd quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 6,478 shares during the period. Midwest Trust Co boosted its position in ExxonMobil by 3.9% during the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock worth $120,623,000 after purchasing an additional 26,411 shares in the last quarter. Finally, Ameritas Advisory Services LLC boosted its position in ExxonMobil by 32.7% during the second quarter. Ameritas Advisory Services LLC now owns 33,303 shares of the oil and gas company’s stock worth $4,553,000 after purchasing an additional 8,203 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

About ExxonMobil

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.