Piper Sandler Lowers Exxon Mobil (NYSE:XOM) Price Target to $127.00

Exxon Mobil (NYSE:XOM) had its price target lowered by Piper Sandler from $138.00 to $127.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. Redburn Atlantic restated a “neutral” rating and issued a $120.00 price objective (up from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. TD Cowen dropped their target price on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Wolfe Research raised their price target on shares of Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Finally, BMO Capital Markets upped their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $128.74.

Exxon Mobil Stock Performance

Shares of XOM opened at $105.87 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market cap of $465.31 billion, a PE ratio of 13.18, a P/E/G ratio of 4.70 and a beta of 0.89. Exxon Mobil has a 12 month low of $95.77 and a 12 month high of $126.34. The stock has a fifty day moving average price of $117.21 and a 200-day moving average price of $116.13.

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

Exxon Mobil Increases Dividend

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

Institutional Investors Weigh In On Exxon Mobil

Several institutional investors and hedge funds have recently added to or reduced their stakes in XOM. Garden State Investment Advisory Services LLC lifted its position in shares of Exxon Mobil by 3.2% in the third quarter. Garden State Investment Advisory Services LLC now owns 9,352 shares of the oil and gas company’s stock valued at $1,097,000 after acquiring an additional 294 shares in the last quarter. Copley Financial Group Inc. purchased a new position in Exxon Mobil in the 3rd quarter valued at $461,000. American Trust boosted its stake in Exxon Mobil by 18.7% during the 3rd quarter. American Trust now owns 4,240 shares of the oil and gas company’s stock worth $497,000 after purchasing an additional 667 shares during the last quarter. Old North State Trust LLC grew its holdings in shares of Exxon Mobil by 7.7% during the third quarter. Old North State Trust LLC now owns 9,480 shares of the oil and gas company’s stock worth $1,111,000 after buying an additional 681 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Exxon Mobil by 16.3% in the third quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after buying an additional 4,415,012 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

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.