ExxonMobil (NYSE:XOM) Shares Down 3.1% – Should You Sell?

ExxonMobil Corporation (NYSE:XOM) shares were down 3.1% during mid-day trading on Monday . The company traded as low as $157.94 and last traded at $158.40. 15,219,779 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 18,606,561 shares. The stock had previously closed at $163.54.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is expanding its Gulf Coast carbon-capture and storage network, with a long-term target of up to 100 million metric tons of annual CO2 storage capacity. If successful, the initiative could create a significant lower-carbon growth platform. Can ExxonMobil Turn Carbon Capture Into a Major Growth Market?
• Positive Sentiment: RBC said stronger refining performance could offset some earnings pressure from ExxonMobil’s Middle East exposure. Analysts tracked by Quiver Quantitative have a median price target of $172, above the recently reported trading level. ExxonMobil Refining Upside Could Offset Middle East Earnings Loss
• Positive Sentiment: Reports that ExxonMobil is considering a return to Venezuela could provide access to additional heavy-oil resources, although any agreement remains preliminary and carries substantial geopolitical and execution risks. Exxon Eyes a Return to Venezuela
• Neutral Sentiment: ExxonMobil’s 275,000-barrel-per-day Joliet refinery remains offline despite restored electricity, potentially limiting near-term production while tight fuel markets may support refining margins. Exxon’s Joliet Refinery Remains Offline
• Negative Sentiment: The key near-term pressure is the retreat in oil prices as perceived supply risks ease. Lower crude prices can reduce upstream revenue and profit expectations for integrated producers such as ExxonMobil, prompting investors to unwind recent energy gains. ExxonMobil Stock Falls: What’s Happening?

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on XOM shares. Weiss Ratings raised ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Bank of America cut ExxonMobil from a “buy” rating to a “neutral” rating and raised their target price for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. Morgan Stanley lifted their target price on ExxonMobil from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of ExxonMobil in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $167.45.

ExxonMobil Stock Performance

The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $656.56 billion, a PE ratio of 20.39, a P/E/G ratio of 1.00 and a beta of 0.18. The firm’s 50-day moving average price is $158.21 and its two-hundred day moving average price is $153.27.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The firm had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same period in the prior year, the business posted $1.64 EPS. As a group, research analysts predict that ExxonMobil Corporation will post 11.93 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 17th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, August 17th. ExxonMobil’s payout ratio is presently 53.02%.

Institutional Investors Weigh In On ExxonMobil

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of ExxonMobil in the fourth quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp increased its stake in ExxonMobil by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after buying an additional 531,362 shares during the period. Fisher Asset Management LLC lifted its position in ExxonMobil by 1.0% in the 4th quarter. Fisher Asset Management LLC now owns 31,497,852 shares of the oil and gas company’s stock worth $3,790,452,000 after buying an additional 303,359 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ExxonMobil by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company’s stock valued at $4,812,790,000 after buying an additional 1,540,902 shares during the period. Finally, Amundi increased its stake in shares of ExxonMobil by 5.1% in the first quarter. Amundi now owns 24,511,156 shares of the oil and gas company’s stock worth $4,158,563,000 after acquiring an additional 1,192,386 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

ExxonMobil Company Profile

Exxon Mobil Corporation, doing business as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and marketing of crude oil and natural gas. Its upstream operations support oil and natural gas production in multiple regions worldwide, while its downstream businesses refine crude oil into fuels and other petroleum products for commercial, industrial and consumer markets.

Through its product solutions businesses, ExxonMobil manufactures and markets lubricants, specialty fluids, petroleum-derived products and chemical products, including commodity and performance chemicals used in packaging, automotive components, construction materials and other industrial applications.