Exxon Mobil (NYSE:XOM) Trading Down 0.8% on Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM)’s share price fell 0.8% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $130.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Exxon Mobil traded as low as $109.55 and last traded at $109.92. 3,362,943 shares were traded during trading, a decline of 79% from the average session volume of 16,242,136 shares. The stock had previously closed at $110.84.

Several other brokerages also recently commented on XOM. Barclays reduced their target price on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company lifted their target price on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Mizuho reduced their target price on shares of Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a report on Monday. Bank of America began coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price for the company. Finally, TD Cowen reduced their target price on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and an average target price of $129.68.

Institutional Trading of Exxon Mobil

A number of institutional investors and hedge funds have recently made changes to their positions in XOM. Massachusetts Financial Services Co. MA increased its position in Exxon Mobil by 532.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock worth $1,935,779,000 after purchasing an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA acquired a new position in Exxon Mobil during the 2nd quarter worth approximately $980,210,000. International Assets Investment Management LLC increased its position in Exxon Mobil by 7,761.0% during 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 purchasing an additional 6,805,982 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Exxon Mobil by 16.9% during the 2nd 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 purchasing an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Exxon Mobil by 19.3% during the 2nd quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock worth $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

Exxon Mobil Stock Performance

The stock’s 50-day moving average is $118.51 and its 200-day moving average is $116.37. The firm has a market capitalization of $476.65 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 4.70 and a beta of 0.89. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The business had revenue of $90.02 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $2.27 EPS. On average, analysts predict that Exxon Mobil Co. will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 14th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.65%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date 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.