Exxon Mobil (NYSE:XOM) Trading Down 1% on Disappointing Earnings

Shares of Exxon Mobil Co. (NYSE:XOM) dropped 1% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $107.00 and last traded at $108.43. Approximately 5,105,905 shares traded hands during trading, a decline of 65% from the average daily volume of 14,580,632 shares. The stock had previously closed at $109.57.

The oil and gas company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. During the same period in the prior year, the company earned $2.48 EPS.

Analysts Set New Price Targets

Several brokerages have issued reports on XOM. Bank of America assumed coverage on Exxon Mobil in a research report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. TD Cowen reduced their price objective on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 target price on shares of Exxon Mobil in a research note on Thursday, December 12th. HSBC dropped their target price on shares of Exxon Mobil from $125.00 to $123.00 and set a “hold” rating for the company in a research report on Friday. Finally, Bernstein Bank raised their target price on shares of Exxon Mobil from $138.00 to $144.00 and gave the company an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average price target of $129.30.

Hedge Funds Weigh In On Exxon Mobil

Large investors have recently made changes to their positions in the stock. Vertex Planning Partners LLC increased its stake in Exxon Mobil by 3.1% during the third quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 83 shares during the period. First Heartland Consultants Inc. increased its stake in Exxon Mobil by 0.9% during the 3rd quarter. First Heartland Consultants Inc. now owns 9,451 shares of the oil and gas company’s stock worth $1,108,000 after buying an additional 87 shares during the period. Latitude Advisors LLC raised its stake in shares of Exxon Mobil by 0.7% in the third quarter. Latitude Advisors LLC now owns 13,378 shares of the oil and gas company’s stock valued at $1,568,000 after acquiring an additional 88 shares in the last quarter. Longfellow Investment Management Co. LLC boosted its stake in shares of Exxon Mobil by 0.6% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 14,537 shares of the oil and gas company’s stock valued at $1,704,000 after buying an additional 88 shares during the period. Finally, West Oak Capital LLC grew its position in shares of Exxon Mobil by 0.6% during the fourth quarter. West Oak Capital LLC now owns 16,207 shares of the oil and gas company’s stock worth $1,743,000 after buying an additional 92 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Stock Down 2.5 %

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 company has a market cap of $469.48 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 2.84 and a beta of 0.91. The firm’s fifty day simple moving average is $110.36 and its 200 day simple moving average is $115.23.

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.