Exxon Mobil Co. (NYSE:XOM – Get Rating) – Equities researchers at Jefferies Financial Group raised their FY2023 earnings per share estimates for Exxon Mobil in a note issued to investors on Sunday, November 20th. Jefferies Financial Group analyst L. Byrne now anticipates that the oil and gas company will earn $10.74 per share for the year, up from their previous forecast of $10.36. Jefferies Financial Group currently has a “Buy” rating and a $133.00 target price on the stock. The consensus estimate for Exxon Mobil’s current full-year earnings is $13.92 per share. Jefferies Financial Group also issued estimates for Exxon Mobil’s FY2024 earnings at $9.54 EPS.
XOM has been the subject of several other reports. BNP Paribas upgraded Exxon Mobil from an “underperform” rating to a “neutral” rating and set a $115.00 target price for the company in a research note on Tuesday, November 1st. Citigroup upped their target price on Exxon Mobil from $98.00 to $110.00 in a research note on Tuesday. StockNews.com assumed coverage on Exxon Mobil in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Bank of America upped their price target on Exxon Mobil from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Finally, Morgan Stanley upped their price target on Exxon Mobil from $113.00 to $114.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 19th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Exxon Mobil has a consensus rating of “Moderate Buy” and a consensus target price of $110.52.
Exxon Mobil Stock Up 2.9 %
Exxon Mobil (NYSE:XOM – Get Rating) last issued its quarterly earnings data on Friday, October 28th. The oil and gas company reported $4.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $1.00. Exxon Mobil had a return on equity of 29.52% and a net margin of 12.86%. The business had revenue of $112.07 billion for the quarter, compared to the consensus estimate of $102.96 billion. During the same period in the prior year, the business earned $1.58 earnings per share. The business’s revenue was up 51.9% on a year-over-year basis.
Hedge Funds Weigh In On Exxon Mobil
A number of large investors have recently modified their holdings of XOM. GQG Partners LLC raised its holdings in shares of Exxon Mobil by 59.9% in the 1st quarter. GQG Partners LLC now owns 51,800,709 shares of the oil and gas company’s stock valued at $4,277,527,000 after purchasing an additional 19,403,556 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Exxon Mobil by 94.1% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 39,666,941 shares of the oil and gas company’s stock valued at $3,463,672,000 after purchasing an additional 19,230,872 shares during the period. FMR LLC raised its holdings in shares of Exxon Mobil by 14.9% in the 2nd quarter. FMR LLC now owns 135,144,175 shares of the oil and gas company’s stock valued at $11,573,746,000 after purchasing an additional 17,521,080 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Exxon Mobil by 1,505.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,730,140 shares of the oil and gas company’s stock valued at $833,291,000 after purchasing an additional 9,124,095 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Exxon Mobil by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 364,432,696 shares of the oil and gas company’s stock valued at $30,098,496,000 after purchasing an additional 8,825,023 shares during the period. 56.84% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, VP Darrin L. Talley sold 2,500 shares of the company’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $110.47, for a total value of $276,175.00. Following the completion of the transaction, the vice president now directly owns 25,363 shares of the company’s stock, valued at approximately $2,801,850.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.
Exxon Mobil Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be paid a $0.91 dividend. The ex-dividend date is Monday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.88. This represents a $3.64 dividend on an annualized basis and a yield of 3.19%. Exxon Mobil’s dividend payout ratio is presently 29.71%.
Exxon Mobil Company Profile
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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