ExxonMobil (NYSE:XOM) Price Target Raised to $193.00

ExxonMobil (NYSE:XOM) had its price target raised by TD Cowen from $180.00 to $193.00 in a report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

Several other research analysts have also recently issued reports on XOM. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 price objective (up from $160.00) on shares of ExxonMobil in a report on Monday, September 21st. Citigroup reiterated a “neutral” rating and set a $175.00 price objective (up from $150.00) on shares of ExxonMobil in a research note on Wednesday, July 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $178.00 target price on shares of ExxonMobil in a report on Tuesday, October 20th. BNP Paribas Exane cut their target price on ExxonMobil from $165.00 to $155.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Finally, Jefferies Financial Group increased their price target on ExxonMobil from $184.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $170.38.

ExxonMobil Price Performance

XOM stock traded up $0.51 during trading on Wednesday, hitting $165.81. The company had a trading volume of 15,867,839 shares, compared to its average volume of 12,226,232. The business has a 50 day moving average of $168.83 and a 200 day moving average of $155.41. The firm has a market capitalization of $687.28 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 0.90 and a beta of 0.16. The company has a current ratio of 1.19, a quick ratio of 0.92 and a debt-to-equity ratio of 0.11. ExxonMobil has a fifty-two week low of $114.19 and a fifty-two week high of $188.50.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, October 30th. The oil and gas company reported $4.23 EPS for the quarter, beating the consensus estimate of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The firm had revenue of $110.50 billion for the quarter, compared to analysts’ expectations of $104.89 billion. During the same quarter last year, the company earned $1.88 EPS. As a group, research analysts predict that ExxonMobil will post 13.34 earnings per share for the current year.

ExxonMobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, November 16th. This is a positive change from ExxonMobil’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a yield of 2.6%. ExxonMobil’s payout ratio is 42.34%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of XOM. Cornerstone Advisory LLC grew its position in ExxonMobil by 3.0% during the 3rd quarter. Cornerstone Advisory LLC now owns 21,903 shares of the oil and gas company’s stock worth $3,565,000 after purchasing an additional 642 shares in the last quarter. ACT Capital Partners L.P. purchased a new stake in shares of ExxonMobil in the third quarter valued at $12,776,000. Ibex Wealth Advisors lifted its holdings in shares of ExxonMobil by 0.6% in the third quarter. Ibex Wealth Advisors now owns 89,949 shares of the oil and gas company’s stock valued at $14,639,000 after purchasing an additional 566 shares in the last quarter. Clearwater Capital Advisors LLC purchased a new stake in shares of ExxonMobil in the third quarter valued at $253,000. Finally, Wellington Grp LLC boosted its position in shares of ExxonMobil by 2.5% in the third quarter. Wellington Grp LLC now owns 7,187 shares of the oil and gas company’s stock worth $1,170,000 after buying an additional 172 shares during the period. Institutional investors own 61.80% of the company’s stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Citigroup and TD Cowen analysts reportedly see potential for further share-price appreciation, providing a bullish counterweight to the downgrade. Citigroup Forecasts Strong Price Appreciation for ExxonMobil TD Cowen Analyst Expects ExxonMobil Stock to Rise
• Positive Sentiment: ExxonMobil’s Uaru project is expected to unlock additional supply capacity in Guyana, supporting the company’s long-term production outlook in a growing oil-producing market. IMF Projects Strong Guyana Growth as Uaru Adds Supply Capacity
• Positive Sentiment: A fund manager with about $5.87 billion under management is described as betting big on ExxonMobil, which may reinforce confidence among investors watching institutional positioning. A $5.9 Billion Fund Is Betting Big on ExxonMobil
• Neutral Sentiment: ExxonMobil and Shell are reportedly exploring a sale of their Infineum joint venture, potentially a multi-billion-dollar transaction. A sale could reshape the portfolio, but its impact depends on the terms and use of proceeds. ExxonMobil and Shell Reportedly Explore Infineum Sale
• Negative Sentiment: DZ Bank’s downgrade was followed by reports of declines in XOM shares, making the rating change a near-term negative catalyst. The coverage does not provide the specific rationale or revised price target. ExxonMobil Gets a Downgrade from DZ Bank

About ExxonMobil

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products.

The company’s products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.

ExxonMobil serves customers and operates in markets around the world.