ExxonMobil (NYSE:XOM) Trading Down 2.7% – Here’s Why

ExxonMobil Corporation (NYSE:XOM) dropped 2.7% during trading on Thursday . The stock traded as low as $146.42 and last traded at $146.5570. Approximately 16,972,028 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 20,525,609 shares. The stock had previously closed at $150.62.

More ExxonMobil News

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

Analyst Upgrades and Downgrades

XOM has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. BNP Paribas Exane set a $165.00 target price on ExxonMobil and gave the stock a “neutral” rating in a research report on Friday, April 17th. HSBC upped their target price on ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a research report on Friday, March 20th. Scotiabank upped their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, TD Cowen decreased their target price on ExxonMobil from $175.00 to $172.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ExxonMobil has a consensus rating of “Hold” and a consensus price target of $165.55.

ExxonMobil Stock Up 0.1%

The stock has a market cap of $608.47 billion, a P/E ratio of 24.76, a PEG ratio of 0.62 and a beta of 0.16. 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 business has a 50-day simple moving average of $152.09 and a 200-day simple moving average of $142.36.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Analysts expect 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. Stockholders of record on Friday, May 15th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. ExxonMobil’s payout ratio is 69.48%.

Insider Activity at ExxonMobil

In other news, VP Darrin L. Talley sold 1,080 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the transaction, the vice president directly owned 17,124 shares in the company, valued at $2,662,782. The trade was a 5.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of XOM. Impact Partnership Wealth LLC raised its stake in shares of ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 67 shares in the last quarter. Cardinal Strategic Wealth Guidance raised its stake in shares of ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 68 shares in the last quarter. Core Wealth Advisors Inc. raised its stake in shares of ExxonMobil by 1.0% in the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock valued at $1,155,000 after purchasing an additional 68 shares in the last quarter. ICW Investment Advisors LLC raised its stake 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. Finally, Swisher Financial Concepts Inc. raised its stake 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. 61.80% of the stock is currently owned by institutional investors and hedge funds.

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.