Exxon Mobil (NYSE:XOM) Trading Down 0.6% on Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s share price traded down 0.6% on Thursday after UBS Group lowered their price target on the stock from $149.00 to $147.00. UBS Group currently has a buy rating on the stock. Exxon Mobil traded as low as $110.78 and last traded at $111.30. 3,487,961 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 16,263,742 shares. The stock had previously closed at $111.92.

XOM has been the subject of several other research reports. Truist Financial decreased their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Bank of America initiated coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target for the company. Barclays reduced their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. BMO Capital Markets lifted their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Finally, Wolfe Research upped their price target on shares of Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $129.84.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Garden State Investment Advisory Services LLC boosted its position in shares of Exxon Mobil by 3.2% during the third quarter. Garden State Investment Advisory Services LLC now owns 9,352 shares of the oil and gas company’s stock valued at $1,097,000 after buying an additional 294 shares during the last quarter. Copley Financial Group Inc. purchased a new position in Exxon Mobil during the 3rd quarter worth $461,000. American Trust grew its stake in shares of Exxon Mobil by 18.7% in the 3rd quarter. American Trust now owns 4,240 shares of the oil and gas company’s stock worth $497,000 after acquiring an additional 667 shares in the last quarter. Old North State Trust LLC raised its holdings in shares of Exxon Mobil by 7.7% in the third quarter. Old North State Trust LLC now owns 9,480 shares of the oil and gas company’s stock valued at $1,111,000 after purchasing an additional 681 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Exxon Mobil by 16.3% during the third quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after purchasing an additional 4,415,012 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Trading Down 0.9 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The firm’s fifty day moving average is $119.13 and its two-hundred day moving average is $116.40. The firm has a market capitalization of $487.15 billion, a PE ratio of 13.79, a PEG ratio of 4.70 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The firm had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.27 EPS. On average, equities analysts predict that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.57%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s payout ratio is presently 49.32%.

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.