Exxon Mobil (NYSE:XOM) Trading Down 2.7% After Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM) shares traded down 2.7% during mid-day trading on Monday after Wells Fargo & Company lowered their price target on the stock from $139.00 to $135.00. Wells Fargo & Company currently has an overweight rating on the stock. Exxon Mobil traded as low as $113.56 and last traded at $113.67. 4,906,683 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 17,420,982 shares. The stock had previously closed at $116.88.

XOM has been the subject of several other research reports. Mizuho boosted their target price on Exxon Mobil from $125.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, May 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $135.00 price objective on shares of Exxon Mobil in a research note on Tuesday, July 9th. Scotiabank increased their price target on Exxon Mobil from $114.00 to $129.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Truist Financial lowered their target price on Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a report on Monday, July 22nd. Finally, TD Cowen lifted their price target on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.39.

Institutional Investors Weigh In On Exxon Mobil

Several large investors have recently added to or reduced their stakes in XOM. Root Financial Partners LLC grew its stake in shares of Exxon Mobil by 10.7% in the 4th quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock valued at $205,000 after buying an additional 199 shares during the period. Dupree Financial Group LLC bought a new position in shares of Exxon Mobil in the 4th quarter worth $378,000. Intact Investment Management Inc. grew its position in Exxon Mobil by 225.7% in the 4th quarter. Intact Investment Management Inc. now owns 68,400 shares of the oil and gas company’s stock valued at $6,839,000 after purchasing an additional 47,400 shares during the period. AJOVista LLC bought a new stake in Exxon Mobil during the 4th quarter valued at $312,000. Finally, Kinsale Capital Group Inc. raised its holdings in Exxon Mobil by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 38,963 shares of the oil and gas company’s stock worth $3,896,000 after buying an additional 9,657 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Price Performance

The stock has a market capitalization of $449.70 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 4.51 and a beta of 0.91. The business’s 50 day simple moving average is $114.04 and its two-hundred day simple moving average is $112.40. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. The business had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.94 EPS. As a group, sell-side analysts forecast that Exxon Mobil Co. will post 8.65 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, August 15th. Exxon Mobil’s payout ratio is currently 46.57%.

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.