Exxon Mobil (NYSE:XOM) Trading Down 0.1% Following Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price fell 0.1% on Thursday after Piper Sandler lowered their price target on the stock from $138.00 to $127.00. Piper Sandler currently has an overweight rating on the stock. Exxon Mobil traded as low as $106.20 and last traded at $106.33. 3,832,345 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 16,268,445 shares. The stock had previously closed at $106.42.

Several other equities analysts have also recently issued reports on the stock. UBS Group lowered their target price on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Redburn Atlantic restated a “neutral” rating and set a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $115.00 target price on shares of Exxon Mobil in a report on Thursday, December 12th. The Goldman Sachs Group boosted their target price on shares of Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Finally, Scotiabank upgraded Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $129.00 to $145.00 in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $128.74.

Institutional Trading of Exxon Mobil

Large investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after buying an additional 14,158,054 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of Exxon Mobil during the 2nd quarter valued at $980,210,000. International Assets Investment Management LLC boosted its position in shares of Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after purchasing an additional 6,805,982 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after buying an additional 5,330,887 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after buying an additional 5,235,607 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

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 company has a market capitalization of $465.31 billion, a PE ratio of 13.18, a PEG ratio of 4.70 and a beta of 0.89. The business has a 50 day simple moving average of $117.21 and a 200 day simple moving average of $116.10.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same period in the previous year, the company earned $2.27 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts predict that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.74%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, November 14th. Exxon Mobil’s dividend payout ratio is presently 49.32%.

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.