Exxon Mobil (NYSE:XOM) Reaches New 52-Week High – Here’s Why

Shares of Exxon Mobil Corporation (NYSE:XOM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $121.30 and last traded at $120.8360, with a volume of 3935793 shares changing hands. The stock had previously closed at $119.11.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. BNP Paribas upgraded shares of Exxon Mobil from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Scotiabank reissued an “outperform” rating on shares of Exxon Mobil in a report on Monday, November 3rd. TD Cowen raised their price target on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a report on Friday, December 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Exxon Mobil in a research note on Monday, December 15th. Finally, Mizuho increased their target price on Exxon Mobil from $129.00 to $132.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.45.

Exxon Mobil Price Performance

The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $508.30 billion, a P/E ratio of 17.52, a PEG ratio of 7.49 and a beta of 0.38. The company has a fifty day simple moving average of $116.65 and a two-hundred day simple moving average of $113.25.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, June 17th. The oil and gas company reported $0.65 EPS for the quarter. The company had revenue of $57.55 billion during the quarter. Exxon Mobil had a net margin of 8.99% and a return on equity of 11.22%. Sell-side analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.99. Exxon Mobil’s dividend payout ratio is presently 59.88%.

Insider Activity

In other news, VP Darrin L. Talley sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $117.19, for a total value of $351,570.00. Following the transaction, the vice president directly owned 28,584 shares in the company, valued at $3,349,758.96. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exxon Mobil

Several hedge funds have recently added to or reduced their stakes in the stock. Ipsen Advisor Group LLC raised its holdings in Exxon Mobil by 1.6% in the 3rd quarter. Ipsen Advisor Group LLC now owns 5,647 shares of the oil and gas company’s stock valued at $637,000 after acquiring an additional 88 shares in the last quarter. Nexus Investment Management ULC grew its holdings in shares of Exxon Mobil by 1.6% during the 3rd quarter. Nexus Investment Management ULC now owns 5,794 shares of the oil and gas company’s stock worth $653,000 after purchasing an additional 89 shares in the last quarter. Axis Wealth Partners LLC increased its position in shares of Exxon Mobil by 1.8% in the second quarter. Axis Wealth Partners LLC now owns 5,056 shares of the oil and gas company’s stock worth $545,000 after purchasing an additional 90 shares during the period. Sagace Wealth Management LLC raised its stake in Exxon Mobil by 2.7% in the third quarter. Sagace Wealth Management LLC now owns 3,445 shares of the oil and gas company’s stock valued at $388,000 after purchasing an additional 90 shares in the last quarter. Finally, Park Edge Advisors LLC raised its stake in Exxon Mobil by 0.3% in the second quarter. Park Edge Advisors LLC now owns 32,031 shares of the oil and gas company’s stock valued at $3,453,000 after purchasing an additional 91 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

About Exxon Mobil

Exxon Mobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.