Exxon Mobil (NYSE:XOM) Stock Price Up 2.3% – Here’s Why

Exxon Mobil Corporation (NYSE:XOM) shares shot up 2.3% during trading on Wednesday . The stock traded as high as $151.81 and last traded at $151.5150. 15,085,334 shares were traded during mid-day trading, a decline of 29% from the average session volume of 21,289,207 shares. The stock had previously closed at $148.13.

More Exxon Mobil News

Here are the key news stories impacting Exxon Mobil this week:

• Positive Sentiment: Middle East escalation and shipping attacks raised global supply fears, sending crude and energy stocks higher — a direct tailwind for Exxon’s cash flow and margins. Top oil and energy stocks to watch as crude swings wildly amid Iran war
• Positive Sentiment: U.S. strikes on Iranian-linked mine ships and related developments pushed oil prices higher this morning, increasing the chance of stronger near-term revenues for producers. Oil Prices Jump After U.S. Hits Iran Mine Ships. Market Braces for Record Release of Reserves.
• Positive Sentiment: Exxon is actively shifting supply routes (first gasoline shipments to Australia) and evaluating asset moves (Venezuela interest), actions investors view as management preserving sales and margins amid disruptions. Exxon Mobil Shifts Supply Routes As Investors Weigh Valuation And Growth
• Positive Sentiment: Corporate-governance/structural boost: the board unanimously recommended redomiciling from New Jersey to Texas — viewed as shareholder-friendly and helpful vs. activist/legal risks. ExxonMobil Board Unanimously Recommends Redomiciling the Company from New Jersey to Texas
• Positive Sentiment: Momentum indicators: surge in options activity and a notable drop in short interest reduce downside gamma and can amplify upside moves. Spotlight on Exxon Mobil: Analyzing the Surge in Options Activity
• Neutral Sentiment: Market uncertainty: authorities may release strategic reserves (or de-escalation headlines may emerge) — either move could quickly cap oil gains and reverse momentum. Oil Prices Jump After U.S. Hits Iran Mine Ships. Market Braces for Record Release of Reserves.
• Neutral Sentiment: Long-term headwinds/valuation debate persists: analysts are mixed on whether Exxon’s rally (multiple expansion, buybacks) leaves room for further upside. Exxon Mobil Plans to Move Its Legal Home to Texas From New Jersey
• Negative Sentiment: Volatility risk — oil has swung widely on de-escalation headlines in recent sessions; a reversal would pressure energy names and could trim Exxon’s gain. Oil Prices Dive as Trump Gives Hope on Iran War. These Big Risks Remain for Crude.

Analyst Ratings Changes

A number of brokerages have issued reports on XOM. Citigroup raised their target price on Exxon Mobil from $118.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Scotiabank reiterated an “outperform” rating on shares of Exxon Mobil in a research note on Friday, January 16th. Zacks Research raised Exxon Mobil from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. BMO Capital Markets reiterated a “market perform” rating and issued a $155.00 price objective on shares of Exxon Mobil in a research report on Wednesday, February 4th. Finally, TD Cowen boosted their price objective on shares of Exxon Mobil from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $143.41.

Exxon Mobil Stock Performance

The company has a market capitalization of $631.33 billion, a P/E ratio of 22.65, a P/E/G ratio of 1.23 and a beta of 0.35. The stock’s 50-day moving average price is $140.03 and its 200-day moving average price is $123.88. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.63 by $0.08. Exxon Mobil had a net margin of 8.68% and a return on equity of 11.21%. The firm had revenue of $80.04 billion for the quarter, compared to analysts’ expectations of $77.98 billion. During the same quarter last year, the company earned $1.67 EPS. Exxon Mobil’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities analysts expect that Exxon Mobil Corporation will post 7.43 EPS for the current year.

Exxon Mobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Thursday, February 12th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. Exxon Mobil’s dividend payout ratio is presently 61.58%.

Insider Activity

In related news, VP Darrin L. Talley sold 2,150 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $157.82, for a total transaction of $339,313.00. Following the transaction, the vice president directly owned 18,204 shares in the company, valued at $2,872,955.28. The trade was a 10.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 16,380 shares of company stock valued at $2,227,734 in the last 90 days. Company insiders own 0.03% of the company’s stock.

Institutional Trading of Exxon Mobil

Several institutional investors and hedge funds have recently made changes to their positions in the business. ICW Investment Advisors LLC raised its holdings in shares of Exxon Mobil by 0.3% during the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after acquiring an additional 69 shares during the period. Fortis Capital Management LLC increased its stake in shares of Exxon Mobil by 2.0% during the fourth quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock worth $434,000 after purchasing an additional 70 shares during the period. Peoples Bank OH boosted its holdings in Exxon Mobil by 0.5% in the 4th quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company’s stock valued at $1,804,000 after purchasing an additional 71 shares during the period. Paulson Wealth Management Inc. grew its holdings in shares of Exxon Mobil by 1.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company’s stock worth $887,000 after purchasing an additional 72 shares in the last quarter. Finally, Peirce Capital Management LLC boosted its position in shares of Exxon Mobil by 1.7% during the 4th quarter. Peirce Capital Management LLC now owns 4,292 shares of the oil and gas company’s stock worth $516,000 after acquiring an additional 72 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

About Exxon Mobil

Exxon Mobil 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.