Exxon Mobil (NYSE:XOM) Stock Price Down 1% on Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM) shares were down 1% during mid-day trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $120.00 to $115.00. Royal Bank of Canada currently has a sector perform rating on the stock. Exxon Mobil traded as low as $117.85 and last traded at $118.78. Approximately 3,604,481 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 16,251,022 shares. The stock had previously closed at $119.97.

Several other research analysts have also commented on XOM. BMO Capital Markets boosted their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Mizuho raised their price objective on Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research report on Monday, September 16th. Truist Financial reduced their target price on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, Wells Fargo & Company raised their price target on Exxon Mobil from $135.00 to $136.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $129.95.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Exxon Mobil during the 2nd quarter worth approximately $35,000. Anfield Capital Management LLC raised its position in Exxon Mobil by 360.0% in the second quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 252 shares during the period. Fairscale Capital LLC acquired a new position in shares of Exxon Mobil in the 2nd quarter valued at $39,000. POM Investment Strategies LLC grew its holdings in shares of Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares during the period. Finally, Hershey Financial Advisers LLC acquired a new stake in shares of Exxon Mobil during the 2nd quarter worth about $46,000. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Stock Performance

The firm’s fifty day moving average is $119.61 and its 200-day moving average is $116.56. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $518.53 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 5.10 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The company 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.27 earnings per share. As a group, research analysts anticipate that Exxon Mobil Co. will post 7.96 earnings per share for the current year.

Exxon Mobil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be paid a $0.99 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.36%. Exxon Mobil’s dividend payout ratio (DPR) 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.