Exxon Mobil (NYSE:XOM) Upgraded by Evercore ISI to “Strong-Buy”

Evercore ISI upgraded shares of Exxon Mobil (NYSE:XOM) to a strong-buy rating in a report published on Monday, Zacks.com reports.

Several other equities analysts also recently commented on XOM. Piper Sandler increased their price target on Exxon Mobil from $130.00 to $145.00 and gave the company an overweight rating in a report on Thursday, April 18th. Truist Financial reduced their price objective on Exxon Mobil from $124.00 to $121.00 and set a hold rating for the company in a research report on Monday, July 22nd. Barclays reduced their price objective on Exxon Mobil from $147.00 to $142.00 and set an overweight rating for the company in a research report on Tuesday, July 9th. UBS Group raised their target price on Exxon Mobil from $152.00 to $154.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. Finally, Wells Fargo & Company reduced their target price on Exxon Mobil from $139.00 to $135.00 and set an overweight rating for the company in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $134.39.

Exxon Mobil Trading Up 2.2 %

XOM stock traded up $2.54 during mid-day trading on Monday, reaching $116.70. 949,028 shares of the stock traded hands, compared to its average volume of 17,373,791. The company has a current ratio of 1.38, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. Exxon Mobil has a 52-week low of $95.77 and a 52-week high of $123.75. The company has a market cap of $460.15 billion, a P/E ratio of 14.29, a P/E/G ratio of 4.51 and a beta of 0.91. The stock’s fifty day moving average is $114.03 and its 200-day moving average is $112.52.

Exxon Mobil (NYSE:XOM) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.62% and a return on equity of 16.75%. The business had revenue of $93.06 billion during the quarter, compared to analyst estimates of $90.09 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts expect that Exxon Mobil will post 8.65 earnings per share for the current year.

Exxon Mobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $0.95 dividend. The ex-dividend date is Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.26%. Exxon Mobil’s dividend payout ratio (DPR) is presently 46.57%.

Institutional Trading of Exxon Mobil

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Exxon Mobil in the fourth quarter worth about $5,519,753,000. Global Assets Advisory LLC increased its position in Exxon Mobil by 16,399.4% in the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock worth $1,466,589,000 after purchasing an additional 12,540,435 shares during the period. Fisher Asset Management LLC increased its position in Exxon Mobil by 566.2% in the fourth quarter. Fisher Asset Management LLC now owns 13,197,713 shares of the oil and gas company’s stock worth $1,319,507,000 after purchasing an additional 11,216,602 shares during the period. Capital International Investors increased its position in Exxon Mobil by 25.1% in the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after purchasing an additional 5,523,429 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after purchasing an additional 4,080,716 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

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.