Exxon Mobil (NYSE:XOM) Shares Down 2.2% – Here’s What Happened

Shares of Exxon Mobil Co. (NYSE:XOM) traded down 2.2% during mid-day trading on Tuesday . The company traded as low as $122.14 and last traded at $122.56. 3,205,802 shares traded hands during trading, a decline of 81% from the average session volume of 16,783,744 shares. The stock had previously closed at $125.37.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on XOM shares. Morgan Stanley cut their price objective on Exxon Mobil from $145.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. UBS Group dropped their price target on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wolfe Research began coverage on Exxon Mobil in a report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 price objective on the stock. BMO Capital Markets upped their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Sanford C. Bernstein lowered their target price on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.29.

Exxon Mobil Trading Down 3.1 %

The business has a 50-day simple moving average of $116.50 and a 200-day simple moving average of $116.11. The company has a market cap of $478.92 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 4.86 and a beta of 0.89. The company has a quick ratio of 1.01, a current ratio of 1.36 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. The company had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. Exxon Mobil’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the business posted $1.94 EPS. On average, analysts predict that Exxon Mobil Co. will post 8.06 EPS for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 annualized dividend and a dividend yield of 3.13%. Exxon Mobil’s dividend payout ratio (DPR) is 46.57%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Etfidea LLC boosted its position in Exxon Mobil by 3.3% during the 2nd quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 85 shares during the period. Bigelow Investment Advisors LLC boosted its holdings in shares of Exxon Mobil by 0.6% during the second quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock worth $1,559,000 after purchasing an additional 86 shares during the period. Integral Investment Advisors Inc. grew its position in Exxon Mobil by 2.1% during the second quarter. Integral Investment Advisors Inc. now owns 4,207 shares of the oil and gas company’s stock valued at $483,000 after purchasing an additional 87 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Exxon Mobil by 15.2% in the 2nd quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock worth $76,000 after buying an additional 87 shares in the last quarter. Finally, Mascoma Wealth Management LLC lifted its position in Exxon Mobil by 7.0% in the 2nd quarter. Mascoma Wealth Management LLC now owns 1,343 shares of the oil and gas company’s stock worth $155,000 after buying an additional 88 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

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.