ExxonMobil (NYSE:XOM) Shares Down 1.3% – Time to Sell?

ExxonMobil Corporation (NYSE:XOM)’s share price fell 1.3% on Friday . The company traded as low as $151.53 and last traded at $152.8770. Approximately 16,484,074 shares traded hands during trading, a decline of 15% from the average session volume of 19,377,838 shares. The stock had previously closed at $154.84.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil highlighted resilient second-quarter cash flow, record Permian production, solid refining performance despite disruptions and an expected free-cash-flow inflection from Guyana. These trends support the company’s production growth and shareholder-return outlook. XOM Q2 Earnings Call Highlights Refining Strength and Guyana Cash Flow
• Positive Sentiment: The company’s dividend increased during the second quarter, reinforcing ExxonMobil’s appeal to income-focused investors even though profit per share fell slightly short of expectations. Exxon’s Profit Fell Short. Its Dividend Didn’t.
• Positive Sentiment: ExxonMobil’s Mozambique unit issued McDermott a letter of intent for limited engineering and procurement work on the Rovuma LNG Phase 1 project. The award signals progress on a potentially important future growth asset, although it is not yet a full project contract. ExxonMobil in Mozambique Awards McDermott Letter of Intent for Rovuma LNG Project
• Neutral Sentiment: ExxonMobil has reportedly linked a potential $80 billion expansion of Kazakhstan’s Kashagan oil field to resolving a major dispute with the government and international companies. The opportunity is substantial, but its conditional nature makes the timing and investment uncertain. Exxon Links New $80 Billion Kazakh Oil Venture to Ending Dispute
• Negative Sentiment: ExxonMobil reported quarterly EPS of $3.52, narrowly below the $3.56 consensus estimate. Although revenue exceeded expectations and earnings improved substantially year over year, the profit miss may have encouraged near-term selling. Exxon’s Profit Fell Short. Its Dividend Didn’t.
• Negative Sentiment: Analyst rating actions from DZ Bank and another analyst have added pressure to XOM shares, signaling concerns about valuation or near-term energy-sector risks despite the company’s strong operating results. ExxonMobil Shares Down on Analyst Downgrade

Wall Street Analysts Forecast Growth

Several brokerages have commented on XOM. TD Cowen restated a “buy” rating and set a $168.00 price objective (up from $155.00) on shares of ExxonMobil in a research report on Friday. Sanford C. Bernstein decreased their price target on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Weiss Ratings raised ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday. DZ Bank downgraded ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price objective for the company. in a research report on Tuesday. Finally, Jefferies Financial Group raised their price objective on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $163.29.

ExxonMobil Stock Performance

The firm has a market capitalization of $633.67 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.60 and a beta of 0.17. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average is $145.97 and its 200-day moving average is $149.48.

ExxonMobil (NYSE:XOM) last issued its 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). The company had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter in the prior year, the business earned $1.64 EPS. On average, analysts predict that ExxonMobil Corporation will post 11.72 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be issued 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 dividend yield of 2.7%. ExxonMobil’s dividend payout ratio (DPR) is 53.02%.

Hedge Funds Weigh In On ExxonMobil

A number of institutional investors and hedge funds have recently bought and sold shares of XOM. Berbice Capital Management LLC bought a new stake in shares of ExxonMobil during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC bought a new position in ExxonMobil in the 4th quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. boosted its position in ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after buying an additional 187 shares during the period. Aventus Investment Advisors Inc. acquired a new stake in ExxonMobil during the 2nd quarter worth approximately $27,000. Finally, Key Capital Management INC bought a new stake in ExxonMobil during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

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.