Exxon Mobil (NYSE:XOM) Trading Down 1% – Here’s Why

Exxon Mobil Co. (NYSE:XOM) dropped 1% on Friday . The company traded as low as $108.69 and last traded at $109.00. Approximately 3,618,586 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 14,492,531 shares. The stock had previously closed at $110.15.

Analysts Set New Price Targets

XOM has been the subject of a number of research analyst reports. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a research note on Wednesday, October 9th. Morgan Stanley reduced their target price on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. UBS Group reduced their target price on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Piper Sandler reduced their target price on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Bank of America began coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Exxon Mobil has an average rating of “Moderate Buy” and a consensus target price of $128.84.

Exxon Mobil Price Performance

The company’s fifty day moving average price is $111.77 and its 200 day moving average price is $115.41. The company has a market capitalization of $477.20 billion, a P/E ratio of 13.52, a PEG ratio of 2.86 and a beta of 0.91. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 9.61% and a return on equity of 14.73%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business posted $2.27 EPS. As a group, sell-side analysts forecast that Exxon Mobil Co. will post 7.77 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is 49.32%.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds have recently modified their holdings of XOM. Hershey Financial Advisers LLC bought a new position in Exxon Mobil during the second quarter worth $46,000. Retirement Wealth Solutions LLC bought a new position in Exxon Mobil during the fourth quarter worth $46,000. Peterson Financial Group Inc. bought a new position in Exxon Mobil during the third quarter worth $51,000. Highline Wealth Partners LLC bought a new position in Exxon Mobil during the third quarter worth $54,000. Finally, Harbor Capital Advisors Inc. bought a new position in Exxon Mobil during the third quarter worth $63,000. Institutional investors and hedge funds 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.