Exxon Mobil (NYSE:XOM) Trading Down 1.1% on Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price fell 1.1% on Wednesday after Piper Sandler lowered their price target on the stock from $127.00 to $125.00. Piper Sandler currently has an overweight rating on the stock. Exxon Mobil traded as low as $107.93 and last traded at $108.23. 3,280,481 shares traded hands during trading, a decline of 79% from the average session volume of 15,526,495 shares. The stock had previously closed at $109.46.

XOM has been the topic of a number of other reports. Royal Bank of Canada lowered their price objective on shares of Exxon Mobil from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Monday, May 5th. Bernstein Bank increased their price objective on shares of Exxon Mobil from $138.00 to $144.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley lowered their price objective on shares of Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Barclays reduced their target price on shares of Exxon Mobil from $130.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Truist Financial upped their target price on shares of Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $125.50.

Institutional Investors Weigh In On Exxon Mobil

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RMR Wealth Builders increased its position in shares of Exxon Mobil by 3.1% during the fourth quarter. RMR Wealth Builders now owns 32,042 shares of the oil and gas company’s stock valued at $3,447,000 after purchasing an additional 960 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Exxon Mobil during the fourth quarter valued at approximately $1,118,000. Grandview Asset Management LLC increased its position in shares of Exxon Mobil by 16.1% during the fourth quarter. Grandview Asset Management LLC now owns 8,305 shares of the oil and gas company’s stock valued at $893,000 after purchasing an additional 1,150 shares during the period. Exeter Financial LLC increased its position in shares of Exxon Mobil by 2.6% during the fourth quarter. Exeter Financial LLC now owns 19,682 shares of the oil and gas company’s stock valued at $2,117,000 after purchasing an additional 494 shares during the period. Finally, Cullen Investment Group LTD. increased its position in shares of Exxon Mobil by 4.0% during the fourth quarter. Cullen Investment Group LTD. now owns 57,646 shares of the oil and gas company’s stock valued at $6,201,000 after purchasing an additional 2,201 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Trading Down 0.9%

The firm has a market capitalization of $467.38 billion, a P/E ratio of 13.83, a PEG ratio of 3.02 and a beta of 0.51. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $109.07 and a 200-day moving average price of $110.98.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.03. The firm had revenue of $83.13 billion for the quarter, compared to analysts’ expectations of $86.11 billion. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.06 earnings per share. Analysts anticipate that Exxon Mobil Co. will post 7.43 earnings per share for the current year.

Exxon Mobil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Thursday, May 15th. Exxon Mobil’s payout ratio is presently 52.52%.

Exxon Mobil Company Profile

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.