Exxon Mobil (NYSE:XOM) Trading Down 1% After Earnings Miss

Exxon Mobil Co. (NYSE:XOM) shares traded down 1% on Friday following a weaker than expected earnings announcement. The stock traded as low as $107.00 and last traded at $108.43. 5,105,905 shares changed hands during trading, a decline of 65% from the average session volume of 14,580,632 shares. The stock had previously closed at $109.57.

The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. During the same quarter in the previous year, the business earned $2.48 EPS.

Analysts Set New Price Targets

A number of analysts have recently weighed in on XOM shares. Wolfe Research increased their price objective on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. Bank of America initiated coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target for the company. TD Cowen decreased their price objective on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group dropped their target price on shares of Exxon Mobil from $125.00 to $123.00 and set a “neutral” rating for the company in a report on Friday. Finally, Piper Sandler lowered their price target on Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $129.30.

Institutional Trading of Exxon Mobil

A number of hedge funds have recently made changes to their positions in XOM. Keystone Financial Group Inc. bought a new stake in Exxon Mobil in the fourth quarter worth $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Exxon Mobil in the 4th quarter worth about $46,000. Compass Financial Services Inc bought a new position in Exxon Mobil in the 4th quarter worth about $48,000. Peterson Financial Group Inc. purchased a new stake in Exxon Mobil during the 3rd quarter valued at about $51,000. Finally, Highline Wealth Partners LLC bought a new stake in Exxon Mobil during the 3rd quarter valued at about $54,000. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Price Performance

The firm’s fifty day simple moving average is $110.66 and its 200-day simple moving average is $115.29. The firm has a market capitalization of $476.56 billion, a PE ratio of 13.50, a PEG ratio of 2.84 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 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.