ExxonMobil (NYSE:XOM) Stock Price Down 4.2% – Here’s Why

ExxonMobil Corporation (NYSE:XOM)’s stock price fell 4.2% during trading on Monday . The stock traded as low as $137.72 and last traded at $140.8560. 23,471,546 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 20,533,922 shares. The stock had previously closed at $147.01.

Analyst Ratings Changes

Several brokerages have commented on XOM. Scotiabank raised their price target on shares of ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Piper Sandler dropped their price target on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Royal Bank Of Canada restated a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. Mizuho raised their price objective on shares of ExxonMobil from $159.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, HSBC raised their price objective on shares of ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research note on Friday, March 20th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.55.

ExxonMobil Stock Down 4.2%

The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The firm has a market cap of $583.84 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The stock’s 50 day moving average is $152.09 and its 200 day moving average is $142.55.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data 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 net margin of 7.57% and a return on equity of 10.24%. The business had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter last year, the business earned $1.76 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts forecast that ExxonMobil Corporation will post 11.8 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.9%. ExxonMobil’s payout ratio is 69.48%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in XOM. Norges Bank acquired a new position in ExxonMobil in the fourth quarter worth approximately $7,625,063,000. Quantum Portfolio Management LLC acquired a new position in ExxonMobil in the first quarter worth approximately $965,932,000. Arrowstreet Capital Limited Partnership acquired a new position in ExxonMobil in the first quarter worth approximately $766,345,000. Franklin Resources Inc. grew its position in ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after buying an additional 2,660,910 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in ExxonMobil by 218.4% in the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock worth $155,696,000 after buying an additional 2,546,791 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

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.