Exxon Mobil (NYSE:XOM) Trading 0.5% Higher After Analyst Upgrade

Exxon Mobil Co. (NYSE:XOM)’s stock price was up 0.5% during trading on Wednesday after TD Cowen raised their price target on the stock from $127.00 to $132.00. TD Cowen currently has a buy rating on the stock. Exxon Mobil traded as high as $119.89 and last traded at $119.21. Approximately 1,837,866 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 16,240,713 shares. The stock had previously closed at $118.63.

XOM has been the subject of a number of other research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 target price on shares of Exxon Mobil in a research note on Monday, November 4th. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. Bank of America initiated coverage on shares of Exxon Mobil in a research report on Thursday, October 17th. They set a “neutral” rating and a $124.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Exxon Mobil from $127.00 to $128.00 in a research report on Thursday, October 31st. Finally, Evercore ISI upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $130.21.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of XOM. FMR LLC lifted its holdings in shares of Exxon Mobil by 0.3% during the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after purchasing an additional 395,218 shares during the last quarter. Geode Capital Management LLC raised its stake in Exxon Mobil by 1.8% during the third quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock valued at $10,777,735,000 after buying an additional 1,622,064 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Exxon Mobil by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after acquiring an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after acquiring an additional 4,080,716 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Exxon Mobil by 16.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Trading Up 0.5 %

The stock’s 50 day moving average is $118.75 and its 200-day moving average is $116.44. The company has a market cap of $523.94 billion, a P/E ratio of 14.85, a PEG ratio of 5.00 and a beta of 0.90. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.01. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter in the prior year, the company posted $2.27 earnings per share. The business’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts anticipate that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be paid a $0.99 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.32%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is currently 49.32%.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.