Exxon Mobil Co. to Post Q3 2022 Earnings of $3.47 Per Share, Jefferies Financial Group Forecasts (NYSE:XOM)

Exxon Mobil Co. (NYSE:XOMGet Rating) – Investment analysts at Jefferies Financial Group increased their Q3 2022 earnings estimates for shares of Exxon Mobil in a research note issued to investors on Thursday, August 4th. Jefferies Financial Group analyst G. Romeo now anticipates that the oil and gas company will post earnings per share of $3.47 for the quarter, up from their previous forecast of $3.30. The consensus estimate for Exxon Mobil’s current full-year earnings is $12.43 per share. Jefferies Financial Group also issued estimates for Exxon Mobil’s Q4 2022 earnings at $3.17 EPS, FY2022 earnings at $12.85 EPS, FY2023 earnings at $11.80 EPS and FY2024 earnings at $8.33 EPS.

XOM has been the subject of several other research reports. Credit Suisse Group upgraded shares of Exxon Mobil from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $115.00 to $125.00 in a research note on Tuesday, June 21st. Evercore ISI upgraded shares of Exxon Mobil from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $88.00 to $120.00 in a research note on Tuesday, June 7th. They noted that the move was a valuation call. StockNews.com lowered shares of Exxon Mobil from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Barclays lifted their price objective on shares of Exxon Mobil from $98.00 to $111.00 and gave the company an “overweight” rating in a research note on Tuesday, May 31st. Finally, Cowen lifted their price objective on shares of Exxon Mobil from $77.00 to $90.00 in a research note on Monday, May 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $96.40.

Exxon Mobil Trading Up 1.8 %

Shares of XOM stock opened at $90.59 on Monday. The company has a 50 day moving average of $90.64 and a 200-day moving average of $86.24. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.21. Exxon Mobil has a 12-month low of $52.10 and a 12-month high of $105.57. The firm has a market cap of $377.55 billion, a P/E ratio of 9.91, a PEG ratio of 0.30 and a beta of 1.09.

Exxon Mobil (NYSE:XOMGet Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.74 by $0.40. Exxon Mobil had a net margin of 10.67% and a return on equity of 23.82%. The company had revenue of $115.68 billion during the quarter, compared to analyst estimates of $111.67 billion. During the same quarter last year, the business posted $1.10 EPS. Exxon Mobil’s quarterly revenue was up 70.8% compared to the same quarter last year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 12th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, August 11th. Exxon Mobil’s dividend payout ratio is presently 38.51%.

Insider Buying and Selling at Exxon Mobil

In other Exxon Mobil news, VP Darrin L. Talley sold 2,147 shares of the business’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $102.81, for a total value of $220,733.07. Following the transaction, the vice president now owns 30,363 shares in the company, valued at $3,121,620.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jeffrey W. Ubben bought 960,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was bought at an average price of $88.51 per share, for a total transaction of $84,969,600.00. Following the purchase, the director now directly owns 1,137,000 shares in the company, valued at approximately $100,635,870. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Darrin L. Talley sold 2,147 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $102.81, for a total value of $220,733.07. Following the completion of the transaction, the vice president now owns 30,363 shares of the company’s stock, valued at approximately $3,121,620.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,147 shares of company stock worth $698,858. 0.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Exxon Mobil by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 364,432,696 shares of the oil and gas company’s stock valued at $30,098,496,000 after purchasing an additional 8,825,023 shares during the period. State Street Corp raised its stake in Exxon Mobil by 0.4% during the fourth quarter. State Street Corp now owns 253,211,345 shares of the oil and gas company’s stock valued at $15,494,002,000 after buying an additional 1,128,974 shares during the last quarter. Geode Capital Management LLC raised its stake in Exxon Mobil by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 70,815,006 shares of the oil and gas company’s stock valued at $4,322,078,000 after buying an additional 3,441,825 shares during the last quarter. Norges Bank purchased a new position in Exxon Mobil during the fourth quarter valued at $3,184,424,000. Finally, GQG Partners LLC raised its stake in Exxon Mobil by 59.9% during the first quarter. GQG Partners LLC now owns 51,800,709 shares of the oil and gas company’s stock valued at $4,277,527,000 after buying an additional 19,403,556 shares during the last quarter. Hedge funds and other institutional investors own 54.07% of the company’s stock.

About Exxon Mobil

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Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels.

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Earnings History and Estimates for Exxon Mobil (NYSE:XOM)

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