Exxon Mobil (NYSE:XOM) Stock Price Down 0.7% – What’s Next?

Exxon Mobil Co. (NYSE:XOM)’s stock price dropped 0.7% on Wednesday . The stock traded as low as $118.80 and last traded at $119.51. Approximately 3,543,994 shares were traded during trading, a decline of 78% from the average daily volume of 16,282,979 shares. The stock had previously closed at $120.35.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on XOM shares. JPMorgan Chase & Co. raised their target price on shares of Exxon Mobil from $127.00 to $128.00 in a report on Thursday, October 31st. Morgan Stanley reduced their price target on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. Evercore ISI upgraded Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. Redburn Atlantic reissued a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Finally, Wolfe Research raised their price objective on Exxon Mobil from $137.00 to $138.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Exxon Mobil Stock Up 1.2 %

The firm has a 50 day moving average of $118.06 and a two-hundred day moving average of $116.34. 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 stock has a market capitalization of $535.15 billion, a PE ratio of 15.18, a P/E/G ratio of 5.05 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $2.27 EPS. Equities research analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Hedge Funds Weigh In On Exxon Mobil

Several institutional investors and hedge funds have recently modified their holdings of XOM. Massachusetts Financial Services Co. MA raised its stake in shares of Exxon Mobil by 532.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after purchasing an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA bought a new position in Exxon Mobil during the second quarter valued at approximately $980,210,000. International Assets Investment Management LLC lifted its stake in Exxon Mobil by 7,761.0% in the third quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after acquiring an additional 6,805,982 shares during the last quarter. Capital International Investors grew its position in Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after acquiring an additional 5,523,429 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 worth $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 hedge funds and other institutional investors.

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.