Exxon Mobil (NYSE:XOM) Shares Up 3% Following Earnings Beat

Exxon Mobil Co. (NYSE:XOM)’s share price rose 3% during mid-day trading on Monday following a stronger than expected earnings report. The company traded as high as $118.64 and last traded at $118.42. Approximately 3,887,146 shares changed hands during trading, a decline of 76% from the average daily volume of 16,373,870 shares. The stock had previously closed at $114.95.

The oil and gas company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same period in the prior year, the business posted $2.27 earnings per share. The company’s revenue was down .8% on a year-over-year basis.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a yield of 3.34%. Exxon Mobil’s dividend payout ratio is currently 45.45%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wolfe Research upped their price target on shares of Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. Mizuho upped their target price on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Redburn Atlantic restated a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Bank of America started coverage on Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $129.95.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. FPC Investment Advisory Inc. bought a new stake in shares of Exxon Mobil in the 1st quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in Exxon Mobil in the second quarter worth $35,000. Anfield Capital Management LLC grew its stake in shares of Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 252 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of Exxon Mobil in the second quarter worth $39,000. Finally, POM Investment Strategies LLC increased its holdings in shares of Exxon Mobil by 918.9% during the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 340 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Trading Up 3.2 %

The stock has a market cap of $467.68 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 4.86 and a beta of 0.90. The firm has a 50-day moving average price of $117.67 and a 200-day moving average price of $116.33. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36.

About Exxon Mobil

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.