Scotiabank Has Negative View of Exxon Mobil FY2024 Earnings

Exxon Mobil Co. (NYSE:XOM) – Investment analysts at Scotiabank reduced their FY2024 earnings per share (EPS) estimates for Exxon Mobil in a report released on Wednesday, January 8th. Scotiabank analyst P. Cheng now anticipates that the oil and gas company will earn $8.05 per share for the year, down from their previous forecast of $8.80. Scotiabank currently has a “Sector Outperform” rating and a $145.00 target price on the stock. The consensus estimate for Exxon Mobil’s current full-year earnings is $7.95 per share. Scotiabank also issued estimates for Exxon Mobil’s FY2025 earnings at $7.35 EPS.

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 firm had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business’s revenue was down .8% compared to the same quarter last year. During the same period last year, the company earned $2.27 earnings per share.

A number of other research firms have also recently commented on XOM. JPMorgan Chase & Co. reduced their price objective on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group upped their price target on shares of Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. TD Cowen cut their price objective on shares of Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a research report on Monday, December 16th. BNP Paribas downgraded 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. Finally, Morgan Stanley dropped their price target on Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.74.

Exxon Mobil Stock Down 0.4 %

Exxon Mobil stock opened at $106.54 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The company’s 50-day moving average is $113.49 and its 200-day moving average is $115.65. The firm has a market capitalization of $468.25 billion, a PE ratio of 13.27, a P/E/G ratio of 4.65 and a beta of 0.91. Exxon Mobil has a fifty-two week low of $95.77 and a fifty-two week high of $126.34.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds have recently made changes to their positions in the stock. Fairway Wealth LLC bought a new position in shares of Exxon Mobil in the 2nd quarter worth about $35,000. Fairscale Capital LLC acquired a new stake in Exxon Mobil during the second quarter worth approximately $39,000. Hershey Financial Advisers LLC bought a new stake in Exxon Mobil in the second quarter worth approximately $46,000. Peterson Financial Group Inc. acquired a new position in Exxon Mobil in the third quarter valued at approximately $51,000. Finally, Highline Wealth Partners LLC bought a new position in shares of Exxon Mobil during the 3rd quarter worth approximately $54,000. 61.80% of the stock is currently owned by institutional investors.

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 issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.72%. This is an increase 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 presently 49.32%.

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.