ExxonMobil (NYSE:XOM) Shares Up 1.2% – Still a Buy?

ExxonMobil Corporation (NYSE:XOM)’s stock price shot up 1.2% during trading on Wednesday. The stock traded as high as $164.37 and last traded at $163.35. Approximately 12,968,372 shares traded hands during trading, a decline of 30% from the average daily volume of 18,396,119 shares. The stock had previously closed at $161.35.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analyst support: An analyst upgrade and TD Cowen’s increased $180 price target are providing a bullish catalyst. TD Cowen also expects strong third-quarter refining earnings, which could support near-term results. ExxonMobil Shares Up Following Analyst Upgrade
• Positive Sentiment: Oil-price tailwind: WTI crude above $90 per barrel could boost ExxonMobil’s upstream cash flow, particularly from its low-cost Permian Basin operations and expanding Guyana production. Are Current Oil Prices High Enough to Fuel ExxonMobil’s Growth?
• Positive Sentiment: Growth initiatives: ExxonMobil and Chevron are pursuing potential crude, LNG and LPG supply agreements with Vietnam, while ExxonMobil selected SLB’s OneSubsea venture for the first phase of its large Rovuma LNG project in Mozambique. These projects expand long-term production and marketing opportunities. Chevron and ExxonMobil Ink Potential Crude Supply Deals With Vietnam
• Neutral Sentiment: Limited upside at current valuation: ExxonMobil has delivered a substantial multiyear gain and trades near its 52-week high. Price targets around $165–$180 suggest analysts see additional upside, but expectations for future cash flow are already elevated. ExxonMobil Got a $180 Target
• Negative Sentiment: Potential Kazakhstan liability: ExxonMobil, Shell, TotalEnergies and China National Petroleum reportedly face a potential $5.2 billion fine, creating a material legal and financial overhang if confirmed.
• Negative Sentiment: Energy-sector and policy risks: Recent weakness in the broader energy sector and discussion of a diesel export ban could pressure refining and fuel-market economics, despite a UK refinery shutdown potentially tightening diesel supplies.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup reaffirmed a “neutral” rating and issued a $175.00 price objective (up from $150.00) on shares of ExxonMobil in a research note on Wednesday, July 8th. DZ Bank lowered shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target on the stock. in a report on Tuesday, August 4th. BNP Paribas Exane reduced their price target on shares of ExxonMobil from $165.00 to $155.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Wells Fargo & Company reiterated an “overweight” rating and set a $182.00 price objective (down from $183.00) on shares of ExxonMobil in a research note on Monday, August 3rd. Finally, BMO Capital Markets raised their target price on shares of ExxonMobil from $160.00 to $170.00 and gave the company a “market perform” rating in a research note on Wednesday, August 12th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $164.78.

ExxonMobil Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The business’s fifty day simple moving average is $160.16 and its 200 day simple moving average is $153.77. The stock has a market cap of $677.08 billion, a price-to-earnings ratio of 21.02, a price-to-earnings-growth ratio of 0.99 and a beta of 0.18.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (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 business had revenue of $114.53 billion for the quarter, compared to analysts’ expectations of $109.94 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. Research analysts predict that ExxonMobil Corporation will post 12.01 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 17th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Monday, August 17th. ExxonMobil’s payout ratio is presently 53.02%.

Institutional Trading of ExxonMobil

Several hedge funds have recently made changes to their positions in XOM. Avant Capital LLC grew its position in shares of ExxonMobil by 0.6% during the second quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company’s stock worth $1,529,000 after acquiring an additional 65 shares during the last quarter. Impact Partnership Wealth LLC grew its position in ExxonMobil by 0.6% in the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 67 shares during the last quarter. Cardinal Strategic Wealth Guidance increased its stake in shares of ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 68 shares during the period. Core Wealth Advisors Inc. raised its holdings in shares of ExxonMobil by 1.0% during the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock valued at $1,155,000 after buying an additional 68 shares during the last quarter. Finally, Swisher Financial Concepts Inc. boosted its position in shares of ExxonMobil by 0.3% during the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after buying an additional 69 shares during the period. Institutional investors own 61.80% of the company’s stock.

About ExxonMobil

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.