Exxon Mobil (NYSE:XOM) Shares Down 0.9% After Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price fell 0.9% during trading on Friday after UBS Group lowered their price target on the stock from $149.00 to $147.00. UBS Group currently has a buy rating on the stock. Exxon Mobil traded as low as $110.25 and last traded at $110.76. 3,277,603 shares were traded during trading, a decline of 80% from the average session volume of 16,255,218 shares. The stock had previously closed at $111.82.

Other equities research analysts also recently issued research reports about the company. Barclays lowered their price target on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Bank of America initiated coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price on the stock. Truist Financial decreased their price target on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a report on Monday, September 30th. TD Cowen boosted their price objective on shares of Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price target on Exxon Mobil from $127.00 to $128.00 in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $129.84.

Institutional Investors Weigh In On Exxon Mobil

A number of institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings in Exxon Mobil by 532.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Primecap Management Co. CA acquired a new stake in Exxon Mobil in the 2nd quarter valued at $980,210,000. International Assets Investment Management LLC increased its holdings in Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock worth $808,077,000 after acquiring an additional 6,805,982 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Exxon Mobil by 16.9% during 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 acquiring an additional 5,330,887 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Exxon Mobil by 19.3% during 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 purchasing an additional 5,235,607 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Trading Down 0.9 %

The firm has a market cap of $487.15 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 4.70 and a beta of 0.89. The company’s 50-day moving average price is $119.13 and its 200-day moving average price is $116.40. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The company had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same period in the previous year, the firm posted $2.27 EPS. Exxon Mobil’s revenue was down .8% compared to the same quarter last year. Equities analysts expect that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 14th were paid a $0.99 dividend. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s dividend payout ratio is currently 49.32%.

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.