Exxon Mobil (NYSE:XOM) Shares Down 0.6% – Here’s What Happened

Shares of Exxon Mobil Co. (NYSE:XOM) traded down 0.6% during mid-day trading on Wednesday . The company traded as low as $117.66 and last traded at $118.37. 2,376,039 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 15,672,449 shares. The stock had previously closed at $119.04.

Analysts Set New Price Targets

Several research analysts have commented on XOM shares. Barclays decreased their target price on shares of Exxon Mobil from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Truist Financial raised their target price on Exxon Mobil from $117.00 to $119.00 and gave the company a “hold” rating in a research report on Monday, January 13th. Bernstein Bank boosted their price target on Exxon Mobil from $138.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. BMO Capital Markets lowered their price target on Exxon Mobil from $130.00 to $123.00 and set a “market perform” rating on the stock in a report on Friday, January 31st. Finally, UBS Group reduced their price objective on shares of Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.05.

Exxon Mobil Stock Performance

The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $513.67 billion, a PE ratio of 15.10, a P/E/G ratio of 3.02 and a beta of 0.83. The firm’s 50-day moving average price is $111.01 and its two-hundred day moving average price is $113.85.

Exxon Mobil (NYSE:XOM) last announced its earnings results on Friday, January 31st. The oil and gas company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same quarter last year, the company earned $2.48 EPS. As a group, research analysts predict that Exxon Mobil Co. will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.99 per share. The ex-dividend date was Wednesday, February 12th. This represents a $3.96 dividend on an annualized basis and a yield of 3.35%. Exxon Mobil’s payout ratio is presently 50.51%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the transaction, the vice president now directly owns 18,087 shares of the company’s stock, valued at approximately $1,989,570. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Exxon Mobil

A number of hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in Exxon Mobil in the 4th quarter worth about $6,936,737,000. Bank of New York Mellon Corp increased its holdings in Exxon Mobil by 14.4% in the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock worth $4,731,263,000 after buying an additional 5,538,694 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Exxon Mobil by 1,524.1% in the fourth quarter. Pacer Advisors Inc. now owns 5,445,922 shares of the oil and gas company’s stock worth $585,818,000 after buying an additional 5,110,603 shares during the last quarter. Franklin Resources Inc. lifted its stake in Exxon Mobil by 16.3% in the third quarter. Franklin Resources Inc. now owns 31,522,556 shares of the oil and gas company’s stock valued at $3,936,929,000 after acquiring an additional 4,415,012 shares during the last quarter. Finally, Northern Trust Corp grew its position in Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock worth $4,950,087,000 after acquiring an additional 2,998,892 shares in the last quarter. 61.80% of the stock is 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.