Exxon Mobil (NYSE:XOM) Trading Down 1% Following Analyst Downgrade

Exxon Mobil Co. (NYSE:XOM) fell 1% during trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $120.00 to $115.00. Royal Bank of Canada currently has a sector perform rating on the stock. Exxon Mobil traded as low as $117.85 and last traded at $118.78. 3,604,481 shares were traded during trading, a decline of 78% from the average session volume of 16,251,022 shares. The stock had previously closed at $119.97.

Several other research analysts also recently commented on XOM. Mizuho lifted their price target on shares of Exxon Mobil from $128.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Truist Financial reduced their price target on Exxon Mobil from $121.00 to $117.00 and set a “hold” rating on the stock in a report on Monday, September 30th. The Goldman Sachs Group increased their price objective on Exxon Mobil from $118.00 to $120.00 in a report on Thursday, October 31st. Bank of America initiated coverage on Exxon Mobil in a report on Thursday, October 17th. They set a “neutral” rating and a $124.00 target price for the company. Finally, Redburn Atlantic reiterated a “neutral” rating and set a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.95.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vertex Planning Partners LLC raised its stake in shares of Exxon Mobil by 3.1% during the third quarter. Vertex Planning Partners LLC now owns 2,778 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 83 shares during the last quarter. Etfidea LLC lifted its stake in shares of Exxon Mobil by 3.3% in the 2nd quarter. Etfidea LLC now owns 2,669 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 85 shares during the period. Bigelow Investment Advisors LLC boosted its holdings in shares of Exxon Mobil by 0.6% in the second quarter. Bigelow Investment Advisors LLC now owns 13,543 shares of the oil and gas company’s stock valued at $1,559,000 after acquiring an additional 86 shares in the last quarter. Integral Investment Advisors Inc. raised its holdings in Exxon Mobil by 2.1% during the second quarter. Integral Investment Advisors Inc. now owns 4,207 shares of the oil and gas company’s stock worth $483,000 after purchasing an additional 87 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC lifted its position in Exxon Mobil by 15.2% in the second quarter. CBIZ Investment Advisory Services LLC now owns 660 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 87 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Exxon Mobil Price Performance

The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $119.53 and a two-hundred day simple moving average of $116.56. The company has a market cap of $519.46 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 5.10 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.27 EPS. On average, equities analysts predict that Exxon Mobil Co. will post 7.96 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be issued a $0.99 dividend. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.35%. Exxon Mobil’s dividend payout ratio is 49.32%.

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.