Exxon Mobil (NYSE:XOM) Trading Down 1% on Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM) shares dropped 1% during trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $120.00 to $115.00. Royal Bank of Canada currently has a sector perform rating on the stock. Exxon Mobil traded as low as $117.85 and last traded at $118.78. Approximately 3,604,481 shares were traded during trading, a decline of 78% from the average daily volume of 16,251,022 shares. The stock had previously closed at $119.97.

A number of other analysts have also weighed in on XOM. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. BNP Paribas downgraded shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research report on Wednesday, October 9th. BMO Capital Markets lifted their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. TD Cowen increased their target price on Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.95.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds and other institutional investors have recently made changes to their positions in XOM. Patron Partners LLC raised its stake in shares of Exxon Mobil by 7.4% during the second quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after purchasing an additional 2,564 shares during the last quarter. Global Wealth Management Investment Advisory Inc. raised its position in Exxon Mobil by 10.7% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock worth $5,532,000 after buying an additional 4,578 shares during the last quarter. YHB Investment Advisors Inc. lifted its stake in shares of Exxon Mobil by 5.9% in the 2nd quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock worth $3,770,000 after acquiring an additional 1,836 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Exxon Mobil by 79.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after acquiring an additional 380,399 shares in the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Exxon Mobil by 64.6% in the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock valued at $111,392,000 after acquiring an additional 379,747 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The firm has a market capitalization of $518.53 billion, a price-to-earnings ratio of 14.69, a price-to-earnings-growth ratio of 5.10 and a beta of 0.90. The business’s 50 day moving average price is $119.61 and its 200-day moving average price is $116.56.

Exxon Mobil (NYSE:XOM) last issued its earnings results 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. The business had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 EPS. Equities analysts forecast that Exxon Mobil Co. will post 7.96 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.36%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) 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.