Exxon Mobil (NYSE:XOM) Stock Price Up 1.6% Following Analyst Upgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price traded up 1.6% during trading on Monday after Truist Financial raised their price target on the stock from $117.00 to $119.00. Truist Financial currently has a hold rating on the stock. Exxon Mobil traded as high as $108.74 and last traded at $108.20. 3,932,860 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 13,655,351 shares. The stock had previously closed at $106.54.

A number of other equities research analysts also recently weighed in on XOM. Bank of America initiated coverage on Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target on the stock. Barclays reduced their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Finally, The Goldman Sachs Group raised their price objective on Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil currently has a consensus rating of “Moderate Buy” and an average target price of $128.84.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. lifted its position in Exxon Mobil by 10.7% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 47,195 shares of the oil and gas company’s stock valued at $5,532,000 after buying an additional 4,578 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Exxon Mobil by 79.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock valued at $98,914,000 after acquiring an additional 380,399 shares during the period. Blair William & Co. IL boosted its stake in Exxon Mobil by 64.6% during the second quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock worth $111,392,000 after acquiring an additional 379,747 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in Exxon Mobil by 4.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 133,140 shares of the oil and gas company’s stock worth $15,607,000 after purchasing an additional 5,985 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of Exxon Mobil by 36.8% during the third quarter. Brooklyn Investment Group now owns 25,127 shares of the oil and gas company’s stock valued at $2,945,000 after purchasing an additional 6,753 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Up 0.4 %

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’s fifty day moving average price is $113.12 and its 200-day moving average price is $115.58. The stock has a market capitalization of $482.05 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 4.65 and a beta of 0.91.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the previous year, the business earned $2.27 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Analysts forecast that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 14th were given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.61%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s dividend payout ratio is 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.