Exxon Mobil (NYSE:XOM) Price Target Lowered to $128.00 at TD Cowen

Exxon Mobil (NYSE:XOM) had its price objective reduced by TD Cowen from $132.00 to $128.00 in a research note published on Monday, Marketbeat.com reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group increased their target price on Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 target price on shares of Exxon Mobil in a research report on Thursday, December 12th. Mizuho lifted their price objective on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $129.00 to $145.00 in a research report on Thursday, October 10th. Finally, Bank of America assumed coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.68.

Exxon Mobil Stock Performance

NYSE:XOM opened at $108.45 on Monday. Exxon Mobil has a twelve month low of $95.77 and a twelve month high of $126.34. The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $118.51 and its 200 day simple moving average is $116.37. The firm has a market capitalization of $476.65 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 4.70 and a beta of 0.89.

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

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.99 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.65%. Exxon Mobil’s dividend payout ratio is presently 49.32%.

Institutional Investors Weigh In On Exxon Mobil

Hedge funds and other institutional investors have recently made changes to their positions in the business. Eagle Capital Management LLC raised its stake in shares of Exxon Mobil by 4.9% in the second quarter. Eagle Capital Management LLC now owns 2,460 shares of the oil and gas company’s stock worth $283,000 after purchasing an additional 114 shares during the last quarter. Penn Davis Mcfarland Inc. grew its holdings in Exxon Mobil by 3.7% during the second quarter. Penn Davis Mcfarland Inc. now owns 10,860 shares of the oil and gas company’s stock worth $1,250,000 after buying an additional 386 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Exxon Mobil by 59.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 63,347 shares of the oil and gas company’s stock valued at $7,293,000 after buying an additional 23,631 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Exxon Mobil by 9.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,198,658 shares of the oil and gas company’s stock valued at $137,990,000 after acquiring an additional 102,300 shares in the last quarter. Finally, Meridian Investment Counsel Inc. boosted its holdings in Exxon Mobil by 8.3% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 12,209 shares of the oil and gas company’s stock worth $1,406,000 after acquiring an additional 936 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

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.