ExxonMobil Corporation (NYSE:XOM – Get Free Report) shares traded up 3.2% during mid-day trading on Friday . The company traded as high as $158.00 and last traded at $157.7150. 27,842,533 shares changed hands during mid-day trading, an increase of 30% from the average session volume of 21,341,398 shares. The stock had previously closed at $152.78.
ExxonMobil News Roundup
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Higher oil prices are seen supporting Exxon Mobil’s upstream earnings, with WTI above $100 helping boost production economics in key areas like the Permian Basin and Guyana. How Will High Oil Prices Aid ExxonMobil’s Energy Business?
- Positive Sentiment: A Texas jury cleared Exxon Mobil of liability in a long-running investor lawsuit tied to its Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang for the company. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
- Positive Sentiment: Exxon resumed drilling in Guyana’s Canje block after a four-year absence, reinforcing investor expectations for future exploration and production growth. Exxon resumes drilling in Guyana’s Canje block after four-year absence
- Neutral Sentiment: Exxon announced it will present at Bernstein’s Strategic Decisions Conference later this month, a routine investor-relations update with limited immediate trading impact. ExxonMobil to Speak at Bernstein 42nd Annual Strategic Decisions Conference
- Negative Sentiment: Bernstein trimmed its price target on Exxon Mobil, which may temper enthusiasm even though the stock still has support from energy-market strength. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
- Negative Sentiment: Investors are also weighing governance concerns around Exxon’s proposed move to redomicile from New Jersey to Texas, which some shareholder advocates say could weaken shareholder rights. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Wells Fargo & Company upped their target price on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Mizuho upped their target price on ExxonMobil from $140.00 to $162.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Zacks Research raised ExxonMobil from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Sanford C. Bernstein lowered their target price on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a report on Monday. Finally, Scotiabank upped their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $163.95.
ExxonMobil Price Performance
The business has a 50-day simple moving average of $154.89 and a 200 day simple moving average of $137.31. The stock has a market cap of $653.72 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 0.66 and a beta of 0.19. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.
ExxonMobil (NYSE:XOM – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the previous year, the company posted $1.76 EPS. The business’s revenue was up 2.4% on a year-over-year basis. On average, analysts forecast that ExxonMobil Corporation will post 11.5 earnings per share for the current year.
ExxonMobil Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, May 15th. ExxonMobil’s payout ratio is 69.48%.
Insider Activity at ExxonMobil
In related news, VP Darrin L. Talley sold 1,080 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the sale, the vice president owned 17,124 shares in the company, valued at $2,662,782. This represents a 5.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by insiders.
Institutional Investors Weigh In On ExxonMobil
Several institutional investors and hedge funds have recently made changes to their positions in XOM. Impact Partnership Wealth LLC raised its stake in ExxonMobil by 0.6% during the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after buying an additional 67 shares during the period. Cardinal Strategic Wealth Guidance raised its stake in ExxonMobil by 1.9% during the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock worth $631,000 after buying an additional 68 shares during the period. ICW Investment Advisors LLC lifted its holdings in shares of ExxonMobil by 0.3% in the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock valued at $3,043,000 after purchasing an additional 69 shares in the last quarter. Swisher Financial Concepts Inc. lifted its holdings in shares of ExxonMobil by 0.3% in the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock valued at $4,649,000 after purchasing an additional 69 shares in the last quarter. Finally, Brown Shipley& Co Ltd lifted its holdings in shares of ExxonMobil by 5.4% in the first quarter. Brown Shipley& Co Ltd now owns 1,336 shares of the oil and gas company’s stock valued at $227,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.
About ExxonMobil
ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.
ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.
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