Exxon Mobil (NYSE:XOM) Stock Price Up 1.6% After Analyst Upgrade

Exxon Mobil Co. (NYSE:XOM) shares traded up 1.6% on Monday after Truist Financial raised their price target on the stock from $117.00 to $119.00. Truist Financial currently has a hold rating on the stock. Exxon Mobil traded as high as $108.74 and last traded at $108.20. 3,932,860 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 13,655,351 shares. The stock had previously closed at $106.54.

Several other equities analysts also recently weighed in on XOM. Wells Fargo & Company increased their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Barclays dropped their target price on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Wednesday, October 9th. Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Finally, Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $129.00 to $145.00 in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average price target of $128.84.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XOM. Johnson & White Wealth Management LLC grew its stake in Exxon Mobil by 4.2% in the fourth quarter. Johnson & White Wealth Management LLC now owns 12,011 shares of the oil and gas company’s stock valued at $1,289,000 after purchasing an additional 489 shares in the last quarter. Greenfield Savings Bank grew its holdings in Exxon Mobil by 0.8% in the 4th quarter. Greenfield Savings Bank now owns 18,585 shares of the oil and gas company’s stock valued at $1,999,000 after buying an additional 153 shares in the last quarter. Columbia Advisory Partners LLC acquired a new position in shares of Exxon Mobil in the fourth quarter valued at about $345,000. Gleason Group Inc. boosted its stake in shares of Exxon Mobil by 0.9% in the fourth quarter. Gleason Group Inc. now owns 16,387 shares of the oil and gas company’s stock valued at $1,763,000 after buying an additional 141 shares during the period. Finally, Cullen Investment Group LTD. grew its holdings in shares of Exxon Mobil by 4.0% during the 4th quarter. Cullen Investment Group LTD. now owns 57,646 shares of the oil and gas company’s stock worth $6,201,000 after purchasing an additional 2,201 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

The business’s 50 day simple moving average is $113.31 and its 200-day simple moving average is $115.61. The stock has a market capitalization of $480.25 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 4.65 and a beta of 0.91. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. Exxon Mobil’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.27 earnings per share. On average, research analysts forecast that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s payout ratio is currently 49.32%.

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.