Exxon Mobil (NYSE:XOM) Trading Up 1.6% Following Analyst Upgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price shot up 1.6% on Monday after Truist Financial raised their price target on the stock from $117.00 to $119.00. Truist Financial currently has a hold rating on the stock. Exxon Mobil traded as high as $108.74 and last traded at $108.20. 3,932,860 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 13,655,351 shares. The stock had previously closed at $106.54.

A number of other equities research analysts have also recently issued reports on XOM. Redburn Atlantic reaffirmed a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a report on Wednesday, October 9th. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. Bank of America began coverage on Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. Finally, Barclays lowered their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $128.84.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in Exxon Mobil by 0.3% during the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after buying an additional 395,218 shares during the period. Geode Capital Management LLC grew its position in shares of Exxon Mobil by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock valued at $10,777,735,000 after acquiring an additional 1,622,064 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. Legal & General Group Plc raised its holdings in Exxon Mobil by 19.3% in the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Exxon Mobil by 16.3% during the 3rd 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 buying an additional 4,415,012 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Stock Up 1.9 %

The company has a market capitalization of $477.18 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 4.65 and a beta of 0.91. The company’s fifty day moving average is $113.49 and its 200-day moving average is $115.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35.

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

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 14th were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a yield of 3.65%. Exxon Mobil’s payout ratio is currently 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.