Exxon Mobil (NYSE:XOM) Stock Price Down 0.7% – Here’s Why

Exxon Mobil Co. (NYSE:XOM)’s stock price dropped 0.7% on Friday . The stock traded as low as $114.84 and last traded at $115.12. Approximately 5,521,653 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 14,837,764 shares. The stock had previously closed at $115.90.

Analyst Upgrades and Downgrades

XOM has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $115.00 price target on shares of Exxon Mobil in a research note on Monday, February 3rd. Argus upgraded shares of Exxon Mobil to a “strong-buy” rating in a report on Tuesday, February 4th. Truist Financial upped their price target on Exxon Mobil from $117.00 to $119.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Finally, UBS Group lowered their target price on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $129.15.

Exxon Mobil Price Performance

The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $498.61 billion, a P/E ratio of 14.65, a P/E/G ratio of 3.02 and a beta of 0.83. The business’s fifty day moving average is $109.92 and its 200 day moving average is $113.60.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.77 by ($0.10). Exxon Mobil had a net margin of 9.63% and a return on equity of 12.92%. During the same quarter in the previous year, the company earned $2.48 EPS. As a group, analysts forecast that Exxon Mobil Co. 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 Monday, March 10th. Investors of record on Wednesday, February 12th were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Wednesday, February 12th. Exxon Mobil’s dividend payout ratio (DPR) is currently 50.51%.

Insider Buying and Selling

In other Exxon Mobil news, VP Darrin L. Talley sold 2,100 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $110.00, for a total transaction of $231,000.00. Following the completion of the transaction, the vice president now owns 18,087 shares in the company, valued at $1,989,570. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is owned by company insiders.

Institutional Trading of Exxon Mobil

Several hedge funds have recently modified their holdings of XOM. FMR LLC grew its holdings in Exxon Mobil by 0.3% during the 3rd quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock worth $17,801,457,000 after acquiring an additional 395,218 shares during the last quarter. Geode Capital Management LLC grew its holdings in Exxon Mobil by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company’s stock worth $10,023,875,000 after acquiring an additional 1,104,617 shares during the period. Norges Bank acquired a new position in shares of Exxon Mobil during the 4th quarter worth about $6,936,737,000. Northern Trust Corp raised its position in shares of Exxon Mobil by 7.0% in the 4th quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company’s stock valued at $4,950,087,000 after acquiring an additional 2,998,892 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Exxon Mobil by 14.4% during the fourth quarter. Bank of New York Mellon Corp now owns 43,983,110 shares of the oil and gas company’s stock worth $4,731,263,000 after purchasing an additional 5,538,694 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

About Exxon Mobil

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.