ExxonMobil (NYSE:XOM) Trading 1.2% Higher – What’s Next?

ExxonMobil Corporation (NYSE:XOM)’s stock price traded up 1.2% during mid-day trading on Wednesday . The company traded as high as $152.49 and last traded at $150.72. 14,248,983 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 20,561,436 shares. The stock had previously closed at $148.91.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler decreased their price target on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Wells Fargo & Company raised their price objective on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Royal Bank Of Canada restated a “sector perform” rating and issued a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. Zacks Research downgraded ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Mizuho raised their price objective on ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $165.55.

ExxonMobil Trading Up 0.1%

The business has a fifty day moving average price of $152.37 and a 200 day moving average price of $142.33. The company has a market capitalization of $608.47 billion, a PE ratio of 24.76, a P/E/G ratio of 0.65 and a beta of 0.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $1.76 EPS. Analysts expect that ExxonMobil Corporation will post 11.66 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is presently 69.48%.

Insider Activity at ExxonMobil

In related news, VP Darrin L. Talley sold 1,080 shares of the firm’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 directly owned 17,124 shares in the company, valued at approximately $2,662,782. This trade represents a 5.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On ExxonMobil

Several hedge funds have recently modified their holdings of the stock. Impact Partnership Wealth LLC raised its holdings in shares of 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 valued at $2,039,000 after buying an additional 67 shares during the period. Cardinal Strategic Wealth Guidance raised its holdings in shares of 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 valued at $631,000 after buying an additional 68 shares during the period. Core Wealth Advisors Inc. increased its holdings in ExxonMobil by 1.0% during the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 68 shares during the last quarter. ICW Investment Advisors LLC increased its holdings in ExxonMobil by 0.3% during the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after purchasing an additional 69 shares during the last quarter. Finally, Swisher Financial Concepts Inc. increased its holdings in ExxonMobil by 0.3% during the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after purchasing an additional 69 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Company Profile

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.