Exxon Mobil (NYSE:XOM) Stock Price Down 1.4% – Here’s Why

Exxon Mobil Corporation (NYSE:XOM) dropped 1.4% on Wednesday . The stock traded as low as $115.93 and last traded at $117.3560. Approximately 15,884,474 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 16,158,651 shares. The stock had previously closed at $119.03.

Analysts Set New Price Targets

XOM has been the topic of a number of research analyst reports. Barclays lowered their price target on Exxon Mobil from $127.00 to $126.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Piper Sandler lifted their target price on shares of Exxon Mobil from $141.00 to $144.00 and gave the stock an “overweight” rating in a research note on Monday, November 10th. Morgan Stanley upped their target price on shares of Exxon Mobil from $134.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Mizuho decreased their price target on shares of Exxon Mobil from $124.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday, September 15th. Finally, Melius initiated coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They set a “hold” rating and a $111.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus price target of $128.67.

Exxon Mobil Stock Up 0.1%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.88 and a current ratio of 1.25. The business has a 50 day simple moving average of $114.69 and a 200-day simple moving average of $111.04. The firm has a market capitalization of $493.75 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 2.06 and a beta of 0.49.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 earnings per share for the quarter. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The firm had revenue of $57.55 billion for the quarter. On average, equities analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, November 14th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s payout ratio is 59.88%.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Journey Strategic Wealth LLC boosted its holdings in shares of Exxon Mobil by 6.7% in the first quarter. Journey Strategic Wealth LLC now owns 21,929 shares of the oil and gas company’s stock valued at $2,608,000 after acquiring an additional 1,379 shares during the period. Linscomb Wealth Inc. raised its position in Exxon Mobil by 1.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 389,769 shares of the oil and gas company’s stock valued at $42,017,000 after purchasing an additional 5,527 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Exxon Mobil by 52.3% during the 1st quarter. Jones Financial Companies Lllp now owns 382,989 shares of the oil and gas company’s stock worth $45,149,000 after purchasing an additional 131,600 shares during the period. OneAscent Wealth Management LLC grew its position in Exxon Mobil by 116.7% during the 2nd quarter. OneAscent Wealth Management LLC now owns 7,657 shares of the oil and gas company’s stock worth $825,000 after purchasing an additional 4,123 shares during the last quarter. Finally, Phoenix Financial Ltd. grew its position in Exxon Mobil by 23.9% during the 1st quarter. Phoenix Financial Ltd. now owns 97,050 shares of the oil and gas company’s stock worth $11,561,000 after purchasing an additional 18,752 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

About Exxon Mobil

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.