Exxon Mobil (NYSE:XOM) Stock Price Up 0.7%

Shares of Exxon Mobil Co. (NYSE:XOM) rose 0.7% on Wednesday . The stock traded as high as $118.92 and last traded at $118.67. Approximately 1,831,652 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 17,235,912 shares. The stock had previously closed at $117.86.

Analysts Set New Price Targets

XOM has been the subject of several analyst reports. Truist Financial decreased their target price on shares of Exxon Mobil from $124.00 to $121.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company reduced their price objective on shares of Exxon Mobil from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Mizuho increased their price objective on shares of Exxon Mobil from $125.00 to $128.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Morgan Stanley reiterated an “overweight” rating and set a $145.00 price objective on shares of Exxon Mobil in a research note on Wednesday, May 15th. Finally, TD Cowen increased their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus price target of $134.39.

Exxon Mobil Stock Performance

The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. The stock’s fifty day moving average is $114.58 and its two-hundred day moving average is $113.23. The firm has a market cap of $465.95 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 4.51 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The business had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same quarter last year, the company earned $1.94 EPS. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, analysts expect that Exxon Mobil Co. will post 8.65 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.95 per share. The ex-dividend date is Thursday, August 15th. This represents a $3.80 annualized dividend and a yield of 3.22%. Exxon Mobil’s payout ratio is 46.57%.

Hedge Funds Weigh In On Exxon Mobil

Several large investors have recently bought and sold shares of XOM. Vanguard Group Inc. boosted its position in shares of Exxon Mobil by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock valued at $38,846,569,000 after purchasing an additional 1,269,495 shares in the last quarter. Norges Bank bought a new position in shares of Exxon Mobil during the 4th quarter valued at about $5,519,753,000. Price T Rowe Associates Inc. MD boosted its position in shares of Exxon Mobil by 6.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after purchasing an additional 2,676,652 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Exxon Mobil by 11.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after purchasing an additional 4,080,716 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

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.