Equities Analysts Set Expectations for Exxon Mobil Co.’s Q2 2024 Earnings (NYSE:XOM)

Exxon Mobil Co. (NYSE:XOMFree Report) – Equities researchers at Zacks Research lifted their Q2 2024 EPS estimates for Exxon Mobil in a research report issued on Monday, April 1st. Zacks Research analyst R. Department now forecasts that the oil and gas company will post earnings of $2.40 per share for the quarter, up from their prior forecast of $2.36. The consensus estimate for Exxon Mobil’s current full-year earnings is $9.11 per share. Zacks Research also issued estimates for Exxon Mobil’s Q4 2024 earnings at $2.30 EPS, Q1 2025 earnings at $2.34 EPS, Q2 2025 earnings at $2.44 EPS, Q4 2025 earnings at $2.59 EPS, FY2025 earnings at $9.90 EPS, Q1 2026 earnings at $2.70 EPS and FY2026 earnings at $11.21 EPS.

XOM has been the subject of a number of other reports. Piper Sandler reduced their target price on shares of Exxon Mobil from $142.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. TD Cowen upped their target price on shares of Exxon Mobil from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday. UBS Group reduced their target price on shares of Exxon Mobil from $133.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. JPMorgan Chase & Co. dropped their price target on shares of Exxon Mobil from $134.00 to $127.00 and set an “overweight” rating on the stock in a research note on Friday, December 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $120.00 price target on shares of Exxon Mobil in a research note on Monday, February 5th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $128.47.

Check Out Our Latest Report on XOM

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $119.32 on Wednesday. The company has a 50-day simple moving average of $106.51 and a 200-day simple moving average of $105.88. Exxon Mobil has a one year low of $95.77 and a one year high of $120.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.48. The stock has a market capitalization of $473.44 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 4.28 and a beta of 0.96.

Exxon Mobil (NYSE:XOMGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $2.48 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.28. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The firm had revenue of $84.34 billion during the quarter, compared to analysts’ expectations of $90.03 billion. During the same period in the previous year, the company earned $3.40 earnings per share. Exxon Mobil’s quarterly revenue was down 11.6% compared to the same quarter last year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 14th were paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Tuesday, February 13th. Exxon Mobil’s payout ratio is 42.74%.

Insider Activity at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total transaction of $252,000.00. Following the transaction, the vice president now owns 30,189 shares of the company’s stock, valued at $3,169,845. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds have recently made changes to their positions in XOM. Assenagon Asset Management S.A. grew its holdings in Exxon Mobil by 83.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,269,030 shares of the oil and gas company’s stock valued at $149,213,000 after purchasing an additional 575,649 shares in the last quarter. Qsemble Capital Management LP grew its holdings in Exxon Mobil by 34.3% during the 3rd quarter. Qsemble Capital Management LP now owns 4,700 shares of the oil and gas company’s stock valued at $553,000 after purchasing an additional 1,200 shares in the last quarter. RNC Capital Management LLC grew its holdings in Exxon Mobil by 5.5% during the 4th quarter. RNC Capital Management LLC now owns 87,926 shares of the oil and gas company’s stock valued at $8,791,000 after purchasing an additional 4,585 shares in the last quarter. Meyer Handelman Co. grew its holdings in Exxon Mobil by 5.9% during the 3rd quarter. Meyer Handelman Co. now owns 390,975 shares of the oil and gas company’s stock valued at $45,971,000 after purchasing an additional 21,895 shares in the last quarter. Finally, Flputnam Investment Management Co. grew its holdings in Exxon Mobil by 36.0% during the 3rd quarter. Flputnam Investment Management Co. now owns 87,395 shares of the oil and gas company’s stock valued at $10,276,000 after purchasing an additional 23,148 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

About Exxon Mobil

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for Exxon Mobil (NYSE:XOM)

Receive News & Ratings for Exxon Mobil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Exxon Mobil and related companies with MarketBeat.com's FREE daily email newsletter.