Exxon Mobil (NYSE:XOM) Price Target Raised to $119.00 at Truist Financial

Exxon Mobil (NYSE:XOM) had its price target raised by Truist Financial from $117.00 to $119.00 in a report published on Monday morning,Benzinga reports. Truist Financial currently has a hold rating on the oil and gas company’s stock.

Several other brokerages also recently commented on XOM. 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 note on Wednesday, October 9th. Morgan Stanley reduced their price target on shares of Exxon Mobil from $142.00 to $140.00 in a research report on Thursday, October 31st. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. UBS Group reduced their target price on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, TD Cowen dropped their price target on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $128.84.

Exxon Mobil Price Performance

Shares of NYSE:XOM opened at $109.27 on Monday. The company has a market cap of $480.25 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 4.65 and a beta of 0.91. The business has a 50 day moving average price of $113.31 and a 200 day moving average price of $115.61. 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 has a twelve month low of $95.77 and a twelve month high of $126.34.

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. 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 business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.27 EPS. Research analysts predict that Exxon Mobil will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The company also recently declared 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 is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Thursday, November 14th. Exxon Mobil’s dividend payout ratio (DPR) is presently 49.32%.

Institutional Investors Weigh In On Exxon Mobil

Several large investors have recently made changes to their positions in XOM. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 valued at $1,935,779,000 after buying an additional 14,158,054 shares in the last quarter. Primecap Management Co. CA bought a new stake in Exxon Mobil during the 2nd quarter valued at $980,210,000. International Assets Investment Management LLC raised its holdings 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 valued at $808,077,000 after acquiring an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of 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 in the last quarter. Finally, Legal & General Group Plc boosted its holdings 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 worth $3,719,296,000 after acquiring an additional 5,235,607 shares during the period. 61.80% of the stock is owned by hedge funds and other 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.