Exxon Mobil (NYSE:XOM) Shares Up 3% After Strong Earnings

Exxon Mobil Co. (NYSE:XOM) shares were up 3% during trading on Monday following a better than expected earnings announcement. The stock traded as high as $118.64 and last traded at $118.42. Approximately 3,887,146 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 16,373,870 shares. The stock had previously closed at $114.95.

The oil and gas company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same period in the prior year, the firm posted $2.27 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be given a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.34%. Exxon Mobil’s dividend payout ratio (DPR) is 45.45%.

Analyst Upgrades and Downgrades

XOM has been the topic of several research analyst reports. Redburn Atlantic restated a “neutral” rating and set a $120.00 target price (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Evercore ISI raised shares of Exxon Mobil to a “strong-buy” rating in a research report on Monday, August 5th. BNP Paribas downgraded shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price on the stock. in a research report on Wednesday, October 9th. Sanford C. Bernstein cut their price target on Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Wells Fargo & Company increased their target price on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $129.95.

Hedge Funds Weigh In On Exxon Mobil

Hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after buying an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after purchasing an additional 4,080,716 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Exxon Mobil by 16.9% in the second quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after buying an additional 5,330,887 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Exxon Mobil by 19.3% in the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after buying an additional 5,235,607 shares during the period. Finally, Capital International Investors lifted its position in shares of Exxon Mobil by 25.1% during the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after buying an additional 5,523,429 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Price Performance

The firm has a 50 day moving average price of $117.67 and a two-hundred day moving average price of $116.33. The company has a market cap of $467.68 billion, a P/E ratio of 14.19, a P/E/G ratio of 4.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.36.

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.