ExxonMobil (NYSE:XOM) Hits New 1-Year High – What’s Next?

ExxonMobil Corporation (NYSE:XOM)’s stock price hit a new 52-week high on Wednesday. The company traded as high as $176.62 and last traded at $176.8820, with a volume of 4,684,832 shares. The stock had previously closed at $174.08.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Morgan Stanley raised its price target for ExxonMobil to $185 from $177 and maintained an “overweight” rating, implying additional upside from recent levels. Morgan Stanley raises Exxon Mobil price target
• Positive Sentiment: Analysts at Erste Group reportedly expect higher earnings for ExxonMobil, adding to optimism ahead of the company’s next results. Erste Group predicts higher earnings for ExxonMobil
• Positive Sentiment: Exxon’s third-quarter outlook is supported by elevated crude prices, strong refining conditions, Permian production growth, additional Guyana capacity and expanding LNG operations, raising the possibility of another earnings beat. Exxon’s Q3 preview
• Positive Sentiment: Coverage argues ExxonMobil’s integrated business model should help protect its dividend even if oil prices decline substantially, supporting its appeal to income-focused investors. Exxon’s dividend remains safe
• Positive Sentiment: Exxon is pursuing a Trinidad project modeled on its Guyana success, offering a potential long-term production and cash-flow growth opportunity. Exxon pursues Trinidad opportunity
• Neutral Sentiment: The stock recently reached a 52-week high, prompting investors to question whether much of the near-term upside is already reflected in the share price. ExxonMobil reaches a 52-week high
• Neutral Sentiment: Exxon’s chemicals earnings rebounded sharply, but weaker sales volumes and below-historical industry margins leave questions about how durable the improvement will be. ExxonMobil chemical recovery analysis
• Negative Sentiment: Valuation-focused commentary says ExxonMobil trades at a demanding multiple, including roughly 29 times normalized earnings in one analysis, limiting the margin for error after its strong rally. ExxonMobil valuation analysis
• Negative Sentiment: Forecasts for oil prices to fall toward $79 per barrel by 2027, along with project-specific risks such as Kashagan, could pressure future cash flows and encourage profit-taking. ExxonMobil valuation and Kashagan risk

Analysts Set New Price Targets

Several research firms have recently commented on XOM. HSBC reaffirmed a “hold” rating and issued a $90.00 price target on shares of ExxonMobil in a report on Friday, September 25th. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $154.00 to $158.00 in a research note on Tuesday, July 28th. Weiss Ratings raised ExxonMobil from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, September 29th. Jefferies Financial Group increased their price target on ExxonMobil from $184.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Finally, Argus raised their price target on ExxonMobil from $169.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $165.13.

ExxonMobil Trading Down 1.3%

The firm’s 50-day simple moving average is $163.32 and its 200 day simple moving average is $154.41. The stock has a market cap of $724.13 billion, a P/E ratio of 21.40, a PEG ratio of 1.03 and a beta of 0.21. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The business had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same period last year, the firm posted $1.64 EPS. As a group, equities research analysts anticipate that ExxonMobil Corporation will post 12.52 earnings per share for the current year.

ExxonMobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 17th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.4%. ExxonMobil’s payout ratio is presently 53.02%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC increased its stake in shares of ExxonMobil by 206.8% during the third quarter. V Square Quantitative Management LLC now owns 7,452 shares of the oil and gas company’s stock valued at $1,213,000 after acquiring an additional 5,023 shares during the period. Financial & Tax Architects LLC boosted its stake in ExxonMobil by 1.8% during the 3rd quarter. Financial & Tax Architects LLC now owns 51,874 shares of the oil and gas company’s stock valued at $8,442,000 after purchasing an additional 896 shares in the last quarter. jvl associates llc boosted its stake in ExxonMobil by 2.6% during the 3rd quarter. jvl associates llc now owns 2,862 shares of the oil and gas company’s stock valued at $466,000 after purchasing an additional 73 shares in the last quarter. Market Street Wealth Management Advisors LLC increased its position in shares of ExxonMobil by 42.6% during the 3rd quarter. Market Street Wealth Management Advisors LLC now owns 2,621 shares of the oil and gas company’s stock valued at $427,000 after purchasing an additional 783 shares during the period. Finally, Baring Financial LLC increased its position in shares of ExxonMobil by 8.4% during the 3rd quarter. Baring Financial LLC now owns 6,220 shares of the oil and gas company’s stock valued at $1,012,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds 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.