Exxon Mobil Co. to Issue Quarterly Dividend of $0.88 (NYSE:XOM)

Exxon Mobil Co. (NYSE:XOMGet Rating) declared a quarterly dividend on Wednesday, April 27th, RTT News reports. Shareholders of record on Friday, May 13th will be paid a dividend of 0.88 per share by the oil and gas company on Friday, June 10th. This represents a $3.52 dividend on an annualized basis and a yield of 4.16%.

Exxon Mobil has increased its dividend by an average of 2.6% per year over the last three years and has raised its dividend annually for the last 38 consecutive years. Exxon Mobil has a payout ratio of 43.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Exxon Mobil to earn $8.03 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 43.8%.

Shares of XOM stock opened at $84.64 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.71 and a current ratio of 1.04. Exxon Mobil has a 1 year low of $52.10 and a 1 year high of $91.50. The stock has a fifty day moving average of $82.69 and a two-hundred day moving average of $72.40. The firm has a market capitalization of $358.33 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.49 and a beta of 1.17.

Exxon Mobil (NYSE:XOMGet Rating) last announced its quarterly earnings results on Tuesday, February 1st. The oil and gas company reported $2.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.09. The company had revenue of $84.97 billion during the quarter, compared to analyst estimates of $84.58 billion. Exxon Mobil had a return on equity of 13.67% and a net margin of 8.07%. The firm’s quarterly revenue was up 82.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. Equities research analysts predict that Exxon Mobil will post 9.36 earnings per share for the current fiscal year.

In other Exxon Mobil news, VP Stephen A. Littleton sold 10,000 shares of the company’s stock in a transaction dated Friday, February 4th. The stock was sold at an average price of $81.29, for a total value of $812,900.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey W. Ubben sold 1,500,000 shares of the company’s stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $80.05, for a total value of $120,075,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Keudell Morrison Wealth Management increased its holdings in shares of Exxon Mobil by 1.4% during the 3rd quarter. Keudell Morrison Wealth Management now owns 41,652 shares of the oil and gas company’s stock valued at $2,450,000 after acquiring an additional 592 shares during the last quarter. Heritage Wealth Advisors increased its holdings in shares of Exxon Mobil by 5.6% during the 4th quarter. Heritage Wealth Advisors now owns 34,261 shares of the oil and gas company’s stock valued at $2,096,000 after acquiring an additional 1,825 shares during the last quarter. Vident Investment Advisory LLC increased its holdings in shares of Exxon Mobil by 12.0% during the 4th quarter. Vident Investment Advisory LLC now owns 31,924 shares of the oil and gas company’s stock valued at $1,953,000 after acquiring an additional 3,433 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in shares of Exxon Mobil by 1.5% during the 3rd quarter. Center for Financial Planning Inc. now owns 12,384 shares of the oil and gas company’s stock valued at $728,000 after acquiring an additional 180 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Exxon Mobil during the 4th quarter valued at about $590,000. 51.91% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the oil and gas company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Several analysts have recently weighed in on the company. Truist Financial upped their price objective on Exxon Mobil from $75.00 to $84.00 in a report on Thursday, April 21st. Jefferies Financial Group set a $62.00 price objective on Exxon Mobil and gave the company a “neutral” rating in a report on Tuesday, February 1st. BMO Capital Markets upped their price objective on Exxon Mobil from $73.00 to $86.00 and gave the company a “hold” rating in a report on Thursday, March 3rd. Cowen upped their target price on Exxon Mobil from $71.00 to $77.00 and gave the company a “market perform” rating in a report on Wednesday, February 23rd. Finally, Argus raised Exxon Mobil from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Wednesday, February 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $79.65.

About Exxon Mobil (Get Rating)

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.

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Dividend History for Exxon Mobil (NYSE:XOM)

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