Exxon Mobil (NYSE:XOM) Shares Up 2.2% Following Dividend Announcement

Exxon Mobil Co. (NYSE:XOM)’s stock price was up 2.2% during trading on Tuesday following a dividend announcement from the company. The company traded as high as $109.88 and last traded at $109.47. Approximately 4,191,973 shares traded hands during trading, a decline of 72% from the average daily volume of 14,808,157 shares. The stock had previously closed at $107.09.

The newly announced dividend which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, February 12th. Exxon Mobil’s dividend payout ratio is currently 50.51%.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group dropped their price objective 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. TD Cowen dropped their price target 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 issued a $115.00 price objective on shares of Exxon Mobil in a research note on Monday. BMO Capital Markets cut their target price on Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, BNP Paribas lowered Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target for the company. in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $129.25.

Exxon Mobil Stock Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 1.31. The firm’s 50 day moving average is $110.36 and its 200-day moving average is $115.21. The stock has a market capitalization of $482.29 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 2.79 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same period last year, the firm earned $2.48 EPS. Analysts forecast that Exxon Mobil Co. will post 7.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Exxon Mobil

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC grew its position in shares of Exxon Mobil by 2.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 6,387 shares of the oil and gas company’s stock valued at $687,000 after purchasing an additional 131 shares during the period. Boothe Investment Group Inc. lifted its stake in Exxon Mobil by 10.9% in the 4th quarter. Boothe Investment Group Inc. now owns 30,904 shares of the oil and gas company’s stock valued at $3,324,000 after buying an additional 3,044 shares in the last quarter. Partners Wealth Management LLC purchased a new stake in Exxon Mobil during the 4th quarter worth approximately $1,316,000. BCGM Wealth Management LLC raised its holdings in shares of Exxon Mobil by 1.4% during the fourth quarter. BCGM Wealth Management LLC now owns 41,421 shares of the oil and gas company’s stock valued at $4,456,000 after acquiring an additional 552 shares during the last quarter. Finally, World Equity Group Inc. lifted its position in shares of Exxon Mobil by 3.6% in the fourth quarter. World Equity Group Inc. now owns 24,546 shares of the oil and gas company’s stock valued at $2,640,000 after acquiring an additional 854 shares in the last quarter. 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.