ExxonMobil (NYSE:XOM) Trading Down 3.1% – Should You Sell?

Shares of ExxonMobil Corporation (NYSE:XOM) were down 3.1% during mid-day trading on Tuesday . The company traded as low as $149.47 and last traded at $150.18. Approximately 13,008,466 shares changed hands during trading, a decline of 38% from the average daily volume of 21,082,689 shares. The stock had previously closed at $154.92.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is seeking environmental approval for a new offshore project in Guyana, with the proposed Haimara gas-condensate development potentially adding another growth driver to its prolific Stabroek block portfolio. ExxonMobil seeks environmental approval for new offshore project in Guyana
• Positive Sentiment: Analyst and market commentary continues to highlight XOM as a high-yield, stable energy name for income-focused investors, reinforcing its appeal as a defensive holding even in a volatile oil market. 5 Top-Ranked High-Yielding Energy Stocks to Buy for a Stable Portfolio
• Positive Sentiment: ExxonMobil is also being featured in articles recommending high-yield stocks for long-term holding, which can support investor sentiment around its dividend and cash-flow durability. 5 High-Yield Stocks and ETFs to Buy and Hold for the Next Decade (XOM)

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BMO Capital Markets reissued a “market perform” rating and issued a $155.00 target price on shares of ExxonMobil in a research report on Wednesday, February 4th. JPMorgan Chase & Co. upped their target price on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Piper Sandler cut their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Sanford C. Bernstein cut their target price on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Finally, HSBC upped their target price on ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, ExxonMobil has a consensus rating of “Moderate Buy” and an average price target of $164.90.

ExxonMobil Stock 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 50-day moving average of $155.82 and a 200-day moving average of $139.41. The stock has a market capitalization of $622.49 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 0.68 and a beta of 0.19.

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

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil’s dividend payout ratio is presently 69.48%.

Insider Buying and Selling

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the company’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the sale, the vice president directly owned 17,124 shares of the company’s stock, valued at approximately $2,662,782. This represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On ExxonMobil

Hedge funds have recently added to or reduced their stakes in the business. Berbice Capital Management LLC purchased a new stake in shares of ExxonMobil during the 4th quarter worth about $26,000. Midwest Capital Advisors LLC purchased a new stake in shares of ExxonMobil during the 4th quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 187 shares in the last quarter. Key Capital Management INC purchased a new stake in shares of ExxonMobil during the 4th quarter worth about $28,000. Finally, Westfuller Advisors LLC purchased a new stake in shares of ExxonMobil during the 3rd quarter worth about $30,000. 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.