Exxon Mobil Co. (NYSE:XOM) declared a quarterly dividend on Wednesday, July 29th, RTT News reports. Shareholders of record on Thursday, August 13th will be given a dividend of 0.87 per share by the oil and gas company on Thursday, September 10th. This represents a $3.48 annualized dividend and a yield of 8.29%.
Exxon Mobil has raised its dividend by an average of 15.1% annually over the last three years and has increased its dividend annually for the last 37 consecutive years. Exxon Mobil has a payout ratio of -1,087.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Exxon Mobil to earn $1.04 per share next year, which means the company may not be able to cover its $3.48 annual dividend with an expected future payout ratio of 334.6%.
XOM traded down $2.05 during trading on Thursday, reaching $41.98. The company had a trading volume of 504,155 shares, compared to its average volume of 18,549,684. The company has a quick ratio of 0.52, a current ratio of 0.78 and a debt-to-equity ratio of 0.17. The business has a 50 day simple moving average of $44.81 and a 200-day simple moving average of $48.62. The stock has a market cap of $178.06 billion, a P/E ratio of 15.84 and a beta of 1.33. Exxon Mobil has a 52 week low of $30.11 and a 52 week high of $75.66.
Several research analysts recently issued reports on the company. Royal Bank of Canada reissued a “sell” rating and issued a $45.00 price objective on shares of Exxon Mobil in a research note on Monday, July 20th. Wells Fargo & Co increased their target price on shares of Exxon Mobil from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Scotiabank lowered their price target on shares of Exxon Mobil from $50.00 to $47.00 and set a “sector underperform” rating for the company in a research report on Monday, July 13th. Argus lowered shares of Exxon Mobil from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Credit Suisse Group boosted their price objective on shares of Exxon Mobil from $37.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Five research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $53.17.
About Exxon Mobil
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/Other Americas, Europe, Africa, Asia, and Australia/Oceania. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, petroleum products, and other specialty products; and manufactures and markets petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals.
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