Exxon Mobil (NYSE:XOM) Stock Price Up 1.9% – Here’s What Happened

Shares of Exxon Mobil Co. (NYSE:XOM) shot up 1.9% on Wednesday . The stock traded as high as $121.87 and last traded at $121.21. 6,049,848 shares were traded during trading, a decline of 63% from the average session volume of 16,351,408 shares. The stock had previously closed at $118.96.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on Exxon Mobil from $127.00 to $128.00 in a report on Thursday, October 31st. 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 research note on Wednesday, October 9th. Barclays dropped their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Truist Financial decreased their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Morgan Stanley dropped their target price on Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.95.

Exxon Mobil Trading Up 1.7 %

The stock has a market capitalization of $476.91 billion, a PE ratio of 15.06, a P/E/G ratio of 4.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The company’s 50 day moving average price is $117.78 and its two-hundred day moving average price is $116.36.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same period in the previous year, the firm posted $2.27 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, analysts expect that Exxon Mobil Co. will post 7.97 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.27%. Exxon Mobil’s dividend payout ratio (DPR) is 47.32%.

Institutional Investors Weigh In On Exxon Mobil

A number of hedge funds have recently modified their holdings of the company. WFA Asset Management Corp raised its position in Exxon Mobil by 18.2% in the first quarter. WFA Asset Management Corp now owns 2,684 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 414 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Exxon Mobil during the first quarter worth about $933,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in Exxon Mobil by 4.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 152,629 shares of the oil and gas company’s stock worth $17,742,000 after buying an additional 5,842 shares during the period. BNP Paribas acquired a new stake in shares of Exxon Mobil during the first quarter valued at about $17,153,000. Finally, St. Louis Trust Co lifted its holdings in shares of Exxon Mobil by 2.0% in the 1st quarter. St. Louis Trust Co now owns 37,262 shares of the oil and gas company’s stock worth $4,331,000 after acquiring an additional 729 shares during the last quarter. Hedge funds and other institutional investors 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.