Exxon Mobil (NYSE:XOM) Given New $115.00 Price Target at Royal Bank of Canada

Exxon Mobil (NYSE:XOM) had its price objective reduced by Royal Bank of Canada from $120.00 to $115.00 in a research report sent to investors on Tuesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the oil and gas company’s stock.

Several other brokerages have also issued reports on XOM. Morgan Stanley cut their target price on shares of Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. Barclays reduced their target price on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Redburn Atlantic reaffirmed a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research note on Tuesday, September 24th. Wells Fargo & Company raised their price objective on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Finally, BMO Capital Markets upped their target price on Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $129.95.

Exxon Mobil Stock Performance

Shares of Exxon Mobil stock opened at $117.96 on Tuesday. The business has a 50-day moving average price of $119.76 and a two-hundred day moving average price of $116.57. 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 company has a market cap of $518.45 billion, a P/E ratio of 14.69, a PEG ratio of 4.94 and a beta of 0.90.

Exxon Mobil (NYSE:XOM) last released 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. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The business had revenue of $90.02 billion during the quarter, compared to analysts’ expectations of $93.98 billion. During the same quarter last year, the firm posted $2.27 earnings per share. The firm’s revenue was down .8% on a year-over-year basis. As a group, analysts anticipate that Exxon Mobil will post 7.94 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 annualized dividend and a dividend yield of 3.36%. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of XOM. Fairway Wealth LLC purchased a new position in shares of Exxon Mobil in the 2nd quarter worth about $35,000. Anfield Capital Management LLC boosted its stake in Exxon Mobil by 360.0% in the second 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 during the last quarter. Fairscale Capital LLC purchased a new position in Exxon Mobil in the second quarter valued at about $39,000. POM Investment Strategies LLC increased its stake in shares of Exxon Mobil by 918.9% during the 2nd quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 340 shares during the last quarter. Finally, Hershey Financial Advisers LLC bought a new stake in shares of Exxon Mobil in the 2nd quarter worth approximately $46,000. Hedge funds and other institutional investors 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.