ExxonMobil (NYSE:XOM) Shares Up 3.8% – Time to Buy?

Shares of ExxonMobil Corporation (NYSE:XOM) traded up 3.8% on Tuesday . The company traded as high as $141.74 and last traded at $141.66. Approximately 14,578,985 shares changed hands during trading, a decline of 28% from the average session volume of 20,299,848 shares. The stock had previously closed at $136.44.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signaled that higher oil prices should significantly boost its second-quarter upstream earnings, with commodity tailwinds helping offset some disruption from geopolitical conflict. Reuters: Exxon Mobil signals higher second-quarter earnings
• Positive Sentiment: Reports indicate Exxon’s Q2 profit could jump sharply as crude prices rise and refining/upstream margins improve, which supports the stock’s recent rebound. Zacks: Strong Commodity Tailwinds Poised to Boost XOM’s Q2 Results
• Positive Sentiment: ExxonMobil and partners are committing $1 billion to the Usan Infill Project in Nigeria, which is expected to add about 40,000 barrels per day of production and strengthen long-term output growth. Reuters: ExxonMobil to invest $1 billion in Nigeria’s oilfield

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on XOM. HSBC boosted 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. Piper Sandler dropped their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Scotiabank upped their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, Morgan Stanley lowered their price target on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.45.

ExxonMobil Trading Down 2.6%

The stock has a market cap of $569.51 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. The company has a 50 day moving average of $146.80 and a two-hundred day moving average of $145.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. Sell-side analysts anticipate that ExxonMobil Corporation will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 69.48%.

Institutional Investors Weigh In On ExxonMobil

A number of hedge funds have recently modified their holdings of the business. Eagle Capital Management LLC boosted its holdings in ExxonMobil by 15.3% in the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 376 shares during the last quarter. Caxton Associates LLP acquired a new position in ExxonMobil in the first quarter valued at about $305,000. Sivia Capital Partners LLC boosted its stake in ExxonMobil by 1.9% during the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock worth $1,211,000 after buying an additional 207 shares during the period. United Bank raised its stake in shares of ExxonMobil by 2.8% in the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock valued at $2,352,000 after acquiring an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. raised its position in ExxonMobil by 17.4% in the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock valued at $3,957,000 after purchasing an additional 5,443 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

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.