Scotiabank Has Lowered Expectations for Exxon Mobil (NYSE:XOM) Stock Price

Exxon Mobil (NYSE:XOM) had its price target lowered by Scotiabank from $140.00 to $115.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the oil and gas company’s stock.

Several other equities analysts have also recently weighed in on the stock. 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 report on Thursday, March 27th. TD Cowen lowered their price target on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Monday, December 16th. HSBC cut their price objective on Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a report on Friday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price target on shares of Exxon Mobil in a research note on Monday, February 3rd. Finally, Barclays reduced their target price on shares of Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and an average price target of $126.95.

Exxon Mobil Trading Up 3.1 %

Shares of NYSE:XOM opened at $103.05 on Friday. Exxon Mobil has a twelve month low of $97.80 and a twelve month high of $126.34. The firm has a market cap of $445.70 billion, a P/E ratio of 13.14, a P/E/G ratio of 3.02 and a beta of 0.61. The company has a 50 day moving average of $110.33 and a 200-day moving average of $113.19. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same period last year, the business posted $2.48 earnings per share. As a group, analysts anticipate that Exxon Mobil will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were given a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s payout ratio is presently 50.51%.

Insider Transactions at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,100 shares of Exxon Mobil stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the sale, the vice president now owns 18,087 shares in the company, valued at $1,989,570. The trade was a 10.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is owned by company insiders.

Institutional Trading of Exxon Mobil

A number of institutional investors and hedge funds have recently modified their holdings of XOM. Geode Capital Management LLC lifted its holdings in shares of Exxon Mobil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock valued at $10,023,875,000 after purchasing an additional 1,104,617 shares in the last quarter. Norges Bank bought a new position in Exxon Mobil during the fourth quarter worth $6,936,737,000. Northern Trust Corp lifted its position in Exxon Mobil by 7.0% during the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after acquiring an additional 2,998,892 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Exxon Mobil by 14.4% in the 4th quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock valued at $4,731,263,000 after purchasing an additional 5,538,694 shares during the period. Finally, Franklin Resources Inc. raised its stake in Exxon Mobil by 13.1% in the 4th quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company’s stock worth $3,836,226,000 after purchasing an additional 4,140,046 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

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.