Exxon Mobil (NYSE:XOM) Shares Down 1.8% – Here’s Why

Exxon Mobil Co. (NYSE:XOM) traded down 1.8% during mid-day trading on Thursday . The company traded as low as $106.01 and last traded at $106.83. 17,827,897 shares were traded during mid-day trading, an increase of 22% from the average session volume of 14,599,773 shares. The stock had previously closed at $108.75.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Bank of America initiated coverage on Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price for the company. BNP Paribas cut shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price target on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Morgan Stanley decreased their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.74.

Exxon Mobil Trading Down 0.4 %

The company has a market cap of $468.25 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 4.65 and a beta of 0.91. The company’s 50 day moving average price is $113.49 and its 200 day moving average price is $115.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.35.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.91 by $0.01. The firm had revenue of $90.02 billion for the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.27 earnings per share. Research analysts anticipate that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.72%. The ex-dividend date was Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio (DPR) is 49.32%.

Institutional Trading of Exxon Mobil

Several large investors have recently modified their holdings of XOM. Massachusetts Financial Services Co. MA grew its position in shares of Exxon Mobil by 532.8% in 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. Primecap Management Co. CA acquired a new stake in Exxon Mobil in the 2nd quarter valued at approximately $980,210,000. International Assets Investment Management LLC increased its position in Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after buying an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 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 worth $4,235,972,000 after buying an additional 5,330,887 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after acquiring an additional 5,235,607 shares during the last quarter. 61.80% of the stock is 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.