Exxon Mobil (NYSE:XOM) Stock Price Down 4% Following Weak Earnings

Exxon Mobil Co. (NYSE:XOM) traded down 4% on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $116.22 and last traded at $116.51. 10,320,041 shares changed hands during trading, a decline of 43% from the average session volume of 17,992,779 shares. The stock had previously closed at $121.33.

The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). The business had revenue of $83.08 billion during the quarter, compared to the consensus estimate of $79.69 billion. Exxon Mobil had a return on equity of 18.51% and a net margin of 10.45%. Exxon Mobil’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.83 earnings per share.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 14th were paid a dividend of $0.95 per share. The ex-dividend date was Tuesday, February 13th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.22%. Exxon Mobil’s dividend payout ratio is currently 42.74%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on XOM shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $120.00 price objective on shares of Exxon Mobil in a research note on Monday, February 5th. Wells Fargo & Company lifted their target price on shares of Exxon Mobil from $126.00 to $138.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Piper Sandler raised their price target on Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Redburn Atlantic raised Exxon Mobil from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $116.00 to $119.00 in a research note on Tuesday, January 9th. Finally, TD Cowen lifted their target price on Exxon Mobil from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $132.28.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,400 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total value of $252,000.00. Following the transaction, the vice president now directly owns 30,189 shares of the company’s stock, valued at approximately $3,169,845. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XOM. First Pacific Financial purchased a new stake in Exxon Mobil during the 1st quarter valued at about $34,000. Partnership Wealth Management LLC acquired a new position in shares of Exxon Mobil during the 4th quarter worth approximately $46,000. Vima LLC purchased a new stake in shares of Exxon Mobil in the fourth quarter valued at approximately $50,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Exxon Mobil in the first quarter valued at approximately $88,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Exxon Mobil in the third quarter valued at approximately $91,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

The stock has a 50-day moving average of $113.33 and a 200 day moving average of $106.67. The stock has a market cap of $466.92 billion, a PE ratio of 13.27, a P/E/G ratio of 4.16 and a beta of 0.96. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.18.

About Exxon Mobil

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.