ExxonMobil (NYSE:XOM) Trading 2.5% Higher – Still a Buy?

ExxonMobil Corporation (NYSE:XOM) shares were up 2.5% on Monday . The stock traded as high as $149.65 and last traded at $148.8280. Approximately 16,443,849 shares traded hands during trading, a decline of 22% from the average daily volume of 20,987,037 shares. The stock had previously closed at $145.26.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Oil prices jumped after renewed US-Iran conflict and threats around the Strait of Hormuz raised concerns about supply disruptions, lifting ExxonMobil along with the broader energy sector. Exxon’s Stock Is on Track to Snap a 7-Day Losing Streak. What’s Lifting the Oil Sector.
• Positive Sentiment: ExxonMobil executives warned that oil inventories could reach “unheard of” lows, reinforcing the case for higher crude prices and stronger pricing power if supply remains tight. Exxon Mobil Warns On Oil Supply Tightness And Investor Valuation Risks
• Positive Sentiment: Analysts have turned more bullish on ExxonMobil, with Mizuho reportedly raising its price target, which can help support investor sentiment even as the stock reacts to oil-market headlines. Analysts Get Bullish on Exxon Mobil (XOM)
• Neutral Sentiment: Some recent articles discussed Exxon as a leading oil stock and highlighted its Nigeria offshore contract, but these items appear less important than the immediate crude-price and geopolitical drivers. This is why Exxon Mobil Corporation (XOM) is the Best Oil Stock to Buy amid the US-Iran War

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen reduced their target price on shares of ExxonMobil from $175.00 to $172.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Wolfe Research lowered shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. Barclays upped their target price on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Scotiabank upped 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. Finally, JPMorgan Chase & Co. upped 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. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, ExxonMobil currently has an average rating of “Hold” and an average price target of $165.55.

ExxonMobil Stock Performance

The company has a market cap of $616.88 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 0.63 and a beta of 0.16. The company’s 50-day moving average is $155.03 and its two-hundred day moving average is $140.30. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. Equities analysts predict that ExxonMobil Corporation will post 11.49 EPS for the current year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.8%. ExxonMobil’s dividend payout ratio is 69.48%.

Insider Buying and Selling

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $155.50, for a total transaction of $167,940.00. Following the sale, the vice president directly owned 17,124 shares of the company’s stock, valued at $2,662,782. This represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ExxonMobil

Institutional investors and hedge funds have recently modified their holdings of the company. Portus Wealth Advisors LLC purchased a new stake in shares of ExxonMobil in the first quarter worth about $36,000. Berbice Capital Management LLC purchased a new stake in ExxonMobil in the fourth quarter valued at approximately $26,000. Midwest Capital Advisors LLC purchased a new stake in ExxonMobil in the fourth quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in ExxonMobil by 456.1% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 187 shares in the last quarter. Finally, Atlantic Private Wealth LLC raised its stake in ExxonMobil by 776.9% in the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 202 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

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.