TD Cowen Cuts Exxon Mobil (NYSE:XOM) Price Target to $128.00

Exxon Mobil (NYSE:XOM) had its target price lowered by TD Cowen from $132.00 to $128.00 in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the oil and gas company’s stock.

Several other research analysts also recently commented on XOM. Scotiabank upgraded shares of Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $129.00 to $145.00 in a research report on Thursday, October 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $115.00 price objective on shares of Exxon Mobil in a research note on Thursday, December 12th. JPMorgan Chase & Co. increased their target price on shares of Exxon Mobil from $127.00 to $128.00 in a report on Thursday, October 31st. Redburn Atlantic reiterated a “neutral” rating and set a $120.00 price objective (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Finally, BMO Capital Markets raised their target price on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. One 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.68.

Exxon Mobil Trading Down 1.5 %

Shares of XOM stock opened at $106.42 on Monday. The stock has a 50 day simple moving average of $117.92 and a 200 day simple moving average of $116.24. Exxon Mobil has a 1 year low of $95.77 and a 1 year high of $126.34. 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 market cap of $467.73 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 4.70 and a beta of 0.89.

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

Exxon Mobil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.72%. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is 49.32%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Fairway Wealth LLC bought a new stake in Exxon Mobil in the second quarter worth approximately $35,000. Anfield Capital Management LLC increased its stake in shares of Exxon Mobil by 360.0% in the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 252 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of Exxon Mobil during the 2nd quarter valued at $39,000. POM Investment Strategies LLC boosted its stake in Exxon Mobil by 918.9% during the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 340 shares in the last quarter. Finally, Hershey Financial Advisers LLC acquired a new stake in Exxon Mobil in the second quarter worth $46,000. 61.80% of the stock is owned by institutional investors.

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.