ExxonMobil Corporation (NYSE:XOM) to Issue Quarterly Dividend of $1.03

ExxonMobil Corporation (NYSE:XOM) declared a quarterly dividend on Friday, July 31st. Shareholders of record on Monday, August 17th will be paid a dividend of 1.03 per share by the oil and gas company on Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th.

ExxonMobil has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 42 consecutive years. ExxonMobil has a dividend payout ratio of 52.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ExxonMobil to earn $10.90 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 37.8%.

ExxonMobil Stock Down 0.8%

NYSE XOM opened at $155.65 on Friday. ExxonMobil has a 1-year low of $105.53 and a 1-year high of $176.41. The company has a market capitalization of $645.16 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 0.64 and a beta of 0.17. The stock’s 50 day moving average is $145.66 and its two-hundred day moving average is $148.60. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.During the same quarter last year, the business earned $1.64 EPS. Equities analysts forecast that ExxonMobil will post 11.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Sanford C. Bernstein cut their price objective on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $154.00 to $158.00 in a report on Tuesday. Morgan Stanley dropped their price target on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Jefferies Financial Group lifted their target price on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings cut shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $163.45.

ExxonMobil Company Profile

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.