Exxon Mobil (NYSE:XOM) Trading 1.6% Higher – Here’s What Happened

Exxon Mobil Co. (NYSE:XOM)’s share price shot up 1.6% during mid-day trading on Tuesday . The company traded as high as $114.52 and last traded at $114.30. 4,926,514 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 15,679,485 shares. The stock had previously closed at $112.48.

Analysts Set New Price Targets

XOM has been the topic of a number of research analyst reports. Barclays restated a “hold” rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. Scotiabank lowered their price target on Exxon Mobil from $140.00 to $115.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. UBS Group reduced their target price on Exxon Mobil from $135.00 to $131.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Piper Sandler lowered shares of Exxon Mobil from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 28th. Finally, Morgan Stanley cut their target price on Exxon Mobil from $141.00 to $138.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $125.50.

Exxon Mobil Stock Performance

The company has a 50 day moving average price of $105.75 and a 200-day moving average price of $108.62. The company has a market cap of $494.67 billion, a P/E ratio of 14.62, a PEG ratio of 3.02 and a beta of 0.49. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. The firm had revenue of $83.13 billion for the quarter, compared to the consensus estimate of $86.11 billion. During the same quarter in the previous year, the company earned $2.06 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts expect that Exxon Mobil Co. will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a dividend of $0.99 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.96 dividend on an annualized basis and a yield of 3.45%. Exxon Mobil’s payout ratio is 52.52%.

Hedge Funds Weigh In On Exxon Mobil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP lifted its holdings in Exxon Mobil by 24.1% during the 4th quarter. Quantinno Capital Management LP now owns 570,158 shares of the oil and gas company’s stock valued at $61,332,000 after purchasing an additional 110,772 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in Exxon Mobil in the 4th quarter valued at approximately $55,000. Legacy Trust increased its holdings in Exxon Mobil by 12.7% during the first quarter. Legacy Trust now owns 8,861 shares of the oil and gas company’s stock worth $1,054,000 after buying an additional 997 shares during the last quarter. Renasant Bank lifted its holdings in Exxon Mobil by 5.0% during the 4th quarter. Renasant Bank now owns 10,369 shares of the oil and gas company’s stock valued at $1,115,000 after purchasing an additional 493 shares during the last quarter. Finally, Paradigm Capital Management LLC NV raised its holdings in Exxon Mobil by 1.6% in the 4th quarter. Paradigm Capital Management LLC NV now owns 14,244 shares of the oil and gas company’s stock valued at $1,532,000 after acquiring an additional 227 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

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.