Exxon Mobil (NYSE:XOM) Stock Price Down 4% Following Weak Earnings

Exxon Mobil Co. (NYSE:XOM)’s stock price was down 4% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $116.22 and last traded at $116.51. Approximately 10,320,041 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 17,992,779 shares. The stock had previously closed at $121.33.

The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). The business had revenue of $83.08 billion for the quarter, compared to analysts’ expectations of $79.69 billion. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period last year, the business earned $2.83 earnings per share.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.95 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.80 annualized dividend and a dividend yield of 3.22%. Exxon Mobil’s payout ratio is 42.74%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Exxon Mobil from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Truist Financial upped their price target on shares of Exxon Mobil from $140.00 to $146.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Scotiabank upped their price target on shares of Exxon Mobil from $114.00 to $129.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Mizuho reiterated a “neutral” rating and issued a $125.00 price target on shares of Exxon Mobil in a research report on Thursday, April 4th. Finally, Redburn Atlantic upgraded shares of Exxon Mobil from a “neutral” rating to a “buy” rating and upped their target price for the stock from $116.00 to $119.00 in a research report on Tuesday, January 9th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.28.

Insider Activity at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,400 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total transaction of $252,000.00. Following the sale, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Exxon Mobil

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Pacific Financial purchased a new stake in shares of Exxon Mobil in the first quarter valued at $34,000. Partnership Wealth Management LLC purchased a new position in Exxon Mobil in the 4th quarter worth about $46,000. Vima LLC purchased a new position in Exxon Mobil in the 4th quarter worth about $50,000. Redmont Wealth Advisors LLC purchased a new position in Exxon Mobil in the 1st quarter worth about $88,000. Finally, Orion Capital Management LLC purchased a new position in Exxon Mobil in the 3rd quarter worth about $91,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Down 2.8 %

The company has a market cap of $466.92 billion, a PE ratio of 13.27, a P/E/G ratio of 4.17 and a beta of 0.96. The company’s 50 day moving average is $113.33 and its 200 day moving average is $106.64. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18.

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.