Brokers Issue Forecasts for Exxon Mobil Co.’s Q2 2024 Earnings (NYSE:XOM)

Exxon Mobil Co. (NYSE:XOM) – Zacks Research decreased their Q2 2024 earnings estimates for shares of Exxon Mobil in a report issued on Friday, July 12th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings per share of $2.21 for the quarter, down from their previous estimate of $2.38. The consensus estimate for Exxon Mobil’s current full-year earnings is $8.92 per share. Zacks Research also issued estimates for Exxon Mobil’s Q3 2024 earnings at $2.36 EPS, Q4 2024 earnings at $2.17 EPS, FY2024 earnings at $8.80 EPS, Q1 2025 earnings at $2.22 EPS, Q2 2025 earnings at $2.32 EPS, Q3 2025 earnings at $2.42 EPS, FY2025 earnings at $9.71 EPS, Q1 2026 earnings at $2.51 EPS, Q2 2026 earnings at $2.59 EPS and FY2026 earnings at $10.23 EPS.

A number of other equities research analysts have also recently issued reports on XOM. HSBC upped their target price on Exxon Mobil from $111.00 to $120.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Truist Financial reiterated a “hold” rating and issued a $124.00 target price (down previously from $146.00) on shares of Exxon Mobil in a report on Friday, June 7th. TD Cowen raised their price target on Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Piper Sandler lifted their price objective on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $145.00 price target on shares of Exxon Mobil in a research report on Wednesday, May 15th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.41.

Exxon Mobil Trading Up 0.0 %

Shares of NYSE XOM opened at $113.27 on Monday. The stock has a market cap of $446.62 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 4.19 and a beta of 0.91. The business has a 50 day simple moving average of $114.16 and a 200 day simple moving average of $110.54. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. Exxon Mobil has a 52 week low of $95.77 and a 52 week high of $123.75.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company had revenue of $83.08 billion for the quarter, compared to analyst estimates of $79.69 billion. During the same quarter in the prior year, the business posted $2.83 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year.

Exxon Mobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Wednesday, May 15th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.35%. Exxon Mobil’s payout ratio is 46.57%.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,426 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $119.01, for a total transaction of $288,718.26. Following the completion of the transaction, the vice president now directly owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Capital Asset Advisory Services LLC boosted its position in Exxon Mobil by 5.5% during the fourth quarter. Capital Asset Advisory Services LLC now owns 51,617 shares of the oil and gas company’s stock worth $5,161,000 after purchasing an additional 2,694 shares during the period. Purus Wealth Management LLC raised its holdings in Exxon Mobil by 13.1% in the 4th quarter. Purus Wealth Management LLC now owns 3,527 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 409 shares during the period. Bath Savings Trust Co lifted its position in Exxon Mobil by 1.1% during the fourth quarter. Bath Savings Trust Co now owns 164,630 shares of the oil and gas company’s stock worth $16,460,000 after acquiring an additional 1,829 shares during the last quarter. Daymark Wealth Partners LLC lifted its position in Exxon Mobil by 1.3% during the fourth quarter. Daymark Wealth Partners LLC now owns 220,999 shares of the oil and gas company’s stock worth $22,096,000 after acquiring an additional 2,772 shares during the last quarter. Finally, Howard Financial Services LTD. boosted its holdings in shares of Exxon Mobil by 16.5% during the fourth quarter. Howard Financial Services LTD. now owns 14,370 shares of the oil and gas company’s stock worth $1,437,000 after acquiring an additional 2,036 shares during the period. 61.80% of the stock is currently owned by institutional investors.

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.