Exxon Mobil (NYSE:XOM) Shares Up 2.2% Following Dividend Announcement

Exxon Mobil Co. (NYSE:XOM)’s stock price rose 2.2% during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $109.88 and last traded at $109.47. Approximately 4,191,973 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 14,808,157 shares. The stock had previously closed at $107.09.

The newly announced dividend which will be paid on Monday, March 10th. Stockholders of record on Wednesday, February 12th will be given a $0.99 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.61%. Exxon Mobil’s dividend payout ratio (DPR) is presently 50.51%.

Analysts Set New Price Targets

A number of research firms have weighed in on XOM. Truist Financial boosted their price objective on Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research note on Wednesday, October 9th. Scotiabank dropped their price objective on Exxon Mobil from $145.00 to $140.00 in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $115.00 target price on shares of Exxon Mobil in a research note on Monday. Finally, Bank of America initiated coverage on shares of Exxon Mobil in a research note on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.25.

Exxon Mobil Price Performance

The company’s 50 day simple moving average is $110.36 and its 200-day simple moving average is $115.21. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $482.29 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 2.79 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a return on equity of 12.92% and a net margin of 9.63%. During the same period in the previous year, the business posted $2.48 EPS. On average, equities research analysts predict that Exxon Mobil Co. will post 7.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Czech National Bank grew its position in Exxon Mobil by 5.9% during the third quarter. Czech National Bank now owns 905,051 shares of the oil and gas company’s stock valued at $106,090,000 after acquiring an additional 50,214 shares during the period. GAMMA Investing LLC increased its position in Exxon Mobil by 23.0% during the 3rd quarter. GAMMA Investing LLC now owns 72,796 shares of the oil and gas company’s stock worth $8,533,000 after purchasing an additional 13,606 shares in the last quarter. Herbst Group LLC raised its holdings in Exxon Mobil by 1.3% in the third quarter. Herbst Group LLC now owns 27,059 shares of the oil and gas company’s stock valued at $3,172,000 after buying an additional 350 shares during the period. WealthBridge Capital Management LLC lifted its position in Exxon Mobil by 10.9% during the third quarter. WealthBridge Capital Management LLC now owns 14,209 shares of the oil and gas company’s stock valued at $1,666,000 after buying an additional 1,396 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV grew its stake in Exxon Mobil by 2.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 44,154 shares of the oil and gas company’s stock worth $5,176,000 after buying an additional 1,006 shares during the period. 61.80% of the stock is currently 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.