Shares of ExxonMobil Corporation (NYSE:XOM – Get Free Report) have been given a consensus rating of “Hold” by the twenty-two analysts that are presently covering the firm, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $166.10.
A number of equities research analysts have recently weighed in on the company. Barclays cut their price objective on ExxonMobil from $182.00 to $177.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Weiss Ratings raised shares of ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Zacks Research lowered shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, TD Cowen boosted their price target on shares of ExxonMobil from $155.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, August 7th.
ExxonMobil News Summary
- Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I’m Not Selling ExxonMobil, Even With Oil Prices Where They Are
- Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
- Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil’s Financial Strength Matters for Investors
- Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
- Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
- Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
- Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data
ExxonMobil Trading Up 0.1%
Shares of XOM opened at $156.88 on Monday. The stock has a market capitalization of $650.26 billion, a P/E ratio of 20.19, a PEG ratio of 0.62 and a beta of 0.17. 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 fifty day simple moving average of $150.53 and a two-hundred day simple moving average of $151.88. ExxonMobil has a twelve month low of $108.35 and a twelve month high of $176.41.
ExxonMobil (NYSE:XOM – Get Free Report) last announced its quarterly 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). The firm had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same period last year, the business earned $1.64 EPS. On average, research analysts anticipate that ExxonMobil will post 11.86 EPS for the current year.
ExxonMobil Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.6%. ExxonMobil’s payout ratio is presently 53.02%.
Institutional Investors Weigh In On ExxonMobil
A number of institutional investors have recently modified their holdings of XOM. California State Teachers Retirement System grew its holdings in shares of ExxonMobil by 14,136.6% in the second quarter. California State Teachers Retirement System now owns 696,207,635 shares of the oil and gas company’s stock worth $95,185,508,000 after acquiring an additional 691,317,352 shares during the period. Bank of America Corp DE grew its stake in shares of ExxonMobil by 2.0% during the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares during the period. Norges Bank bought a new stake in shares of ExxonMobil during the 4th quarter valued at about $7,625,063,000. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $5,608,488,000 after purchasing an additional 531,362 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of ExxonMobil by 1.0% in the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after buying an additional 445,283 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.
About ExxonMobil
ExxonMobil 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.
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