ExxonMobil (NYSE:XOM) Shares Up 1.4% – Still a Buy?

Shares of ExxonMobil Corporation (NYSE:XOM) shot up 1.4% during trading on Monday . The company traded as high as $153.81 and last traded at $151.9450. 13,654,492 shares changed hands during trading, a decline of 34% from the average session volume of 20,640,191 shares. The stock had previously closed at $149.92.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Oil prices moved higher on renewed Middle East tensions, which can lift ExxonMobil’s upstream earnings and sentiment for energy stocks. Why Are BATL, INDO, XOM, CVX, USO, UCO Rising Overnight?
• Positive Sentiment: A proposed Exxon gas project in Mozambique is being seen as a major economic driver, with estimates of an $11 billion annual boost to the local economy, reinforcing Exxon’s growth optionality in LNG and international projects. Proposed Exxon gas project seen providing $11B annual boost to Mozambique’s economy
• Positive Sentiment: Recent writeups highlighted Exxon’s strong balance sheet, cost discipline, and long dividend record, which continue to support the investment case for long-term holders. Best Oil Stocks To Add to Your Watchlist – June 5th
• Neutral Sentiment: Several articles argued that Exxon remains a high-quality long-term energy holding, but the market may already be pricing in much of the upside after a strong run in the share price. Should You Buy Exxon Mobil Corporation (XOM)?
• Neutral Sentiment: Commentary also noted Exxon’s move to Texas and shareholder voting changes, which may affect governance perception but are not an immediate earnings driver. Exxon’s Move to Texas and Shareholder Votes Might Change The Case For Investing In Exxon Mobil (XOM)
• Negative Sentiment: One Zacks note said XOM trades at a premium valuation, suggesting investors may want to wait for a better entry point despite strong Permian economics and production plans. Is XOM Worth Betting on at its Premium Price or Should Investors Wait?

Wall Street Analysts Forecast Growth

A number of brokerages have commented on XOM. JPMorgan Chase & Co. lifted their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Scotiabank lifted their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Mizuho lifted their target price on shares of ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Jefferies Financial Group lifted their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Finally, BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the stock a “neutral” rating in a research note on Friday, April 17th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $165.55.

ExxonMobil Stock Up 1.4%

The business’s 50 day moving average is $153.96 and its 200-day moving average is $141.43. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The company has a market cap of $629.80 billion, a PE ratio of 25.62, a P/E/G ratio of 0.64 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts predict that ExxonMobil Corporation will post 11.66 EPS for the current year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. ExxonMobil’s payout ratio is currently 69.48%.

Insider Transactions at ExxonMobil

In related news, VP Darrin L. Talley sold 1,080 shares of ExxonMobil stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the transaction, the vice president owned 17,124 shares in the company, valued at $2,662,782. The trade was a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

Institutional Trading of ExxonMobil

Institutional investors have recently modified their holdings of the stock. Portus Wealth Advisors LLC purchased a new stake in shares of ExxonMobil during the 1st quarter worth approximately $36,000. Berbice Capital Management LLC purchased a new stake in shares of ExxonMobil during the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC purchased a new stake in shares of ExxonMobil during the 4th quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of 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 last quarter. Finally, Atlantic Private Wealth LLC lifted its position in shares of ExxonMobil by 776.9% during the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock worth $39,000 after buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

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.