Exxon Mobil (NYSE:XOM) Price Target Raised to $132.00 at TD Cowen

Exxon Mobil (NYSE:XOM) had its price objective lifted by TD Cowen from $127.00 to $132.00 in a report issued on Tuesday morning, MarketBeat.com reports. The firm currently has a buy rating on the oil and gas company’s stock.

XOM has been the subject of several other research reports. The Goldman Sachs Group increased their target price on Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. Wolfe Research increased their target price on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $120.00 target price on shares of Exxon Mobil in a research report on Monday, November 4th. UBS Group cut their target price on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Bank of America assumed coverage on Exxon Mobil in a research note on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.21.

Exxon Mobil Stock Performance

Shares of XOM opened at $118.60 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The business has a 50-day simple moving average of $118.75 and a two-hundred day simple moving average of $116.44. The stock has a market cap of $521.26 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 5.00 and a beta of 0.90. Exxon Mobil has a 52 week low of $95.77 and a 52 week high of $126.34.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The firm had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter last year, the business posted $2.27 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. On average, analysts expect that Exxon Mobil will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 14th will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.34%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is presently 49.32%.

Institutional Investors Weigh In On Exxon Mobil

Several hedge funds have recently made changes to their positions in XOM. WFA Asset Management Corp lifted its holdings in shares of Exxon Mobil by 18.2% in the 1st quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock worth $312,000 after buying an additional 414 shares during the period. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Exxon Mobil in the 1st quarter worth $933,000. Empowered Funds LLC lifted its holdings in shares of Exxon Mobil by 5.6% in the 1st quarter. Empowered Funds LLC now owns 925,591 shares of the oil and gas company’s stock worth $107,591,000 after buying an additional 49,083 shares during the period. Wellington Wealth Strategies LLC. lifted its holdings in shares of Exxon Mobil by 31.7% in the 1st quarter. Wellington Wealth Strategies LLC. now owns 8,232 shares of the oil and gas company’s stock worth $957,000 after buying an additional 1,983 shares during the period. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Exxon Mobil by 2.4% in the 1st quarter. EP Wealth Advisors LLC now owns 745,426 shares of the oil and gas company’s stock worth $86,648,000 after buying an additional 17,447 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.