ExxonMobil (NYSE:XOM) Stock Price Up 2.1% – Here’s Why

ExxonMobil Corporation (NYSE:XOM)’s share price rose 2.1% during mid-day trading on Tuesday . The stock traded as high as $151.76 and last traded at $151.5350. 13,001,940 shares traded hands during trading, a decline of 35% from the average daily volume of 19,899,861 shares. The stock had previously closed at $148.36.

Analyst Ratings Changes

XOM has been the topic of a number of research reports. Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Barclays upped their price target on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. Mizuho cut their price objective on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. TD Cowen lowered their target price on ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Finally, DZ Bank upgraded ExxonMobil to a “strong-buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.45.

ExxonMobil Trading Up 1.9%

The firm has a market capitalization of $640.47 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 0.63 and a beta of 0.17. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The company’s 50-day simple moving average is $145.84 and its 200 day simple moving average is $147.14.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the previous year, the firm earned $1.76 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that ExxonMobil Corporation will post 11.38 EPS for the current year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s payout ratio is currently 69.48%.

Institutional Trading of ExxonMobil

Several hedge funds and other institutional investors have recently made changes to their positions in XOM. Norges Bank acquired a new stake in ExxonMobil in the 4th quarter worth approximately $7,625,063,000. Quantum Portfolio Management LLC acquired a new position in ExxonMobil during the 1st quarter valued at approximately $965,932,000. Arrowstreet Capital Limited Partnership acquired a new position in ExxonMobil during the 1st quarter valued at approximately $766,345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of ExxonMobil by 18.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock worth $1,925,119,000 after buying an additional 2,465,410 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of ExxonMobil by 334.4% in the fourth quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company’s stock worth $368,541,000 after buying an additional 2,357,467 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

About ExxonMobil

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.