Exxon Mobil (NYSE:XOM) Stock Price Down 2.2% – Here’s Why

Exxon Mobil Co. (NYSE:XOM) was down 2.2% on Tuesday . The company traded as low as $119.78 and last traded at $121.32. Approximately 4,533,919 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 16,641,629 shares. The stock had previously closed at $124.08.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on XOM. Truist Financial reduced their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research note on Monday, September 30th. BNP Paribas cut 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 report on Wednesday, October 9th. Scotiabank raised shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $129.00 to $145.00 in a report on Thursday, October 10th. Barclays lowered their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their target price on shares of 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, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $131.88.

Exxon Mobil Price Performance

The company has a market capitalization of $476.55 billion, a P/E ratio of 14.85, a P/E/G ratio of 5.02 and a beta of 0.89. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $117.09 and a 200 day moving average price of $116.40.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The company had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. During the same period last year, the company earned $1.94 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, equities analysts predict that Exxon Mobil Co. will post 8.11 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.14%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Hedge Funds Weigh In On Exxon Mobil

Several institutional investors and hedge funds have recently made changes to their positions in the business. Patron Partners LLC grew its position in Exxon Mobil by 7.4% in the 2nd quarter. Patron Partners LLC now owns 37,297 shares of the oil and gas company’s stock worth $4,294,000 after purchasing an additional 2,564 shares during the period. YHB Investment Advisors Inc. raised its stake in shares of Exxon Mobil by 5.9% during the second quarter. YHB Investment Advisors Inc. now owns 32,751 shares of the oil and gas company’s stock valued at $3,770,000 after acquiring an additional 1,836 shares in the last quarter. Cooksen Wealth LLC purchased a new stake in Exxon Mobil during the fourth quarter worth $136,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Exxon Mobil by 79.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 859,226 shares of the oil and gas company’s stock worth $98,914,000 after buying an additional 380,399 shares during the last quarter. Finally, Blair William & Co. IL lifted its position in Exxon Mobil by 64.6% during the 2nd quarter. Blair William & Co. IL now owns 967,618 shares of the oil and gas company’s stock worth $111,392,000 after acquiring an additional 379,747 shares during the period. Institutional investors own 61.80% of the company’s stock.

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.