Exxon Mobil (NYSE:XOM) Stock Price Up 1.6% Following Analyst Upgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price shot up 1.6% during trading on Monday after Truist Financial raised their price target on the stock from $117.00 to $119.00. Truist Financial currently has a hold rating on the stock. Exxon Mobil traded as high as $108.74 and last traded at $108.20. 3,932,860 shares changed hands during trading, a decline of 71% from the average session volume of 13,655,351 shares. The stock had previously closed at $106.54.

XOM has been the subject of a number of other reports. Wolfe Research increased their price target on Exxon Mobil from $137.00 to $138.00 in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of Exxon Mobil from $118.00 to $120.00 in a research note on Thursday, October 31st. Redburn Atlantic restated a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their price objective on shares of Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, BMO Capital Markets upped their target price on Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $128.84.

Hedge Funds Weigh In On Exxon Mobil

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XOM. Vertex Planning Partners LLC lifted its stake in Exxon Mobil by 3.1% in the third quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 83 shares during the period. Etfidea LLC lifted its stake in Exxon Mobil by 3.3% during the 2nd quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock valued at $307,000 after acquiring an additional 85 shares in the last quarter. Bigelow Investment Advisors LLC boosted its holdings in Exxon Mobil by 0.6% during the second quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock worth $1,559,000 after purchasing an additional 86 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its stake in shares of Exxon Mobil by 15.2% in the 2nd quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock worth $76,000 after buying an additional 87 shares during the last quarter. Finally, First Heartland Consultants Inc. grew its stake in Exxon Mobil by 0.9% in the 3rd quarter. First Heartland Consultants Inc. now owns 9,451 shares of the oil and gas company’s stock valued at $1,108,000 after purchasing an additional 87 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

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 firm has a market cap of $480.25 billion, a PE ratio of 13.61, a P/E/G ratio of 4.65 and a beta of 0.91. The business’s fifty day moving average is $113.31 and its 200-day moving average is $115.61.

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

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were paid 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 was Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.62%. Exxon Mobil’s dividend payout ratio (DPR) 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.