Exxon Mobil (NYSE:XOM) Trading Down 2.2% – Here’s Why

Exxon Mobil Co. (NYSE:XOM)’s share price dropped 2.2% during mid-day trading on Tuesday . The stock traded as low as $119.78 and last traded at $121.32. Approximately 4,533,919 shares were traded during trading, a decline of 73% from the average daily volume of 16,641,629 shares. The stock had previously closed at $124.08.

Analyst Ratings Changes

XOM has been the topic of several analyst reports. Bank of America initiated coverage on shares of Exxon Mobil in a research note on Thursday. They set a “neutral” rating and a $124.00 price target on the stock. BMO Capital Markets lifted their price target on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their price target on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Wolfe Research assumed coverage on shares of Exxon Mobil in a report on Thursday, July 18th. They set an “outperform” rating and a $146.00 price objective for the company. Finally, Barclays decreased their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.44.

Exxon Mobil Stock Performance

The stock has a market capitalization of $474.54 billion, a P/E ratio of 14.72, a P/E/G ratio of 5.02 and a beta of 0.89. The company’s 50-day moving average is $117.32 and its two-hundred day moving average is $116.46. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to the consensus estimate of $90.09 billion. During the same period in the previous year, the firm earned $1.94 EPS. Exxon Mobil’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Exxon Mobil Co. will post 8.11 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.95 per share. The ex-dividend date was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.16%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

Institutional Trading of Exxon Mobil

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in 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 purchasing an additional 14,158,054 shares during the last quarter. Global Assets Advisory LLC lifted its stake in Exxon Mobil by 16,399.4% during the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after purchasing an additional 12,540,435 shares during the last quarter. Primecap Management Co. CA acquired a new stake in Exxon Mobil during the second quarter valued at approximately $980,210,000. Capital International Investors lifted its stake in Exxon Mobil by 25.1% during the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after purchasing an additional 5,523,429 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Exxon Mobil by 16.9% during the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock valued at $4,235,972,000 after purchasing an additional 5,330,887 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

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.