Truist Financial Forecasts Strong Price Appreciation for Exxon Mobil (NYSE:XOM) Stock

Exxon Mobil (NYSE:XOM) had its price objective increased by Truist Financial from $117.00 to $119.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a hold rating on the oil and gas company’s stock.

Several other research analysts have also issued reports on the stock. Piper Sandler decreased their price target on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research note on Wednesday, October 9th. Barclays reduced their price objective on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Mizuho cut their target price on shares of Exxon Mobil from $137.00 to $134.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Exxon Mobil has an average rating of “Moderate Buy” and an average target price of $128.84.

Exxon Mobil Price Performance

XOM opened at $111.44 on Monday. The company’s 50-day moving average price is $113.12 and its 200 day moving average price is $115.58. The firm has a market cap of $489.79 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 4.65 and a beta of 0.91. 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 fifty-two week low of $95.77 and a fifty-two week high of $126.34.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The firm had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the previous year, the company earned $2.27 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year. As a group, sell-side analysts expect that Exxon Mobil will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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 dividend yield of 3.55%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 14th. Exxon Mobil’s dividend payout ratio is presently 49.32%.

Hedge Funds Weigh In On Exxon Mobil

Large investors have recently modified their holdings of the stock. Vertex Planning Partners LLC lifted its holdings in shares of 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 worth $326,000 after buying an additional 83 shares in the last quarter. Etfidea LLC lifted its stake in Exxon Mobil by 3.3% in the second quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 85 shares during the period. Bigelow Investment Advisors LLC lifted its stake in Exxon Mobil by 0.6% in 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 acquiring an additional 86 shares during the period. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Exxon Mobil by 15.2% during the 2nd quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock valued at $76,000 after buying an additional 87 shares in the last quarter. Finally, First Heartland Consultants Inc. boosted its holdings in shares of Exxon Mobil by 0.9% during 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 buying an additional 87 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

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.