Exxon Mobil (NYSE:XOM) Stock Price Up 1.7% – Here’s What Happened

Exxon Mobil Co. (NYSE:XOM) shares were up 1.7% on Tuesday . The company traded as high as $110.06 and last traded at $109.53. Approximately 3,220,699 shares changed hands during trading, a decline of 71% from the average daily volume of 11,291,890 shares. The stock had previously closed at $107.74.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price target on shares of Exxon Mobil in a research note on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price 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. Redburn Atlantic reiterated a “neutral” rating and issued a $120.00 price target (up previously from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. BMO Capital Markets raised their price objective 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. Finally, Wells Fargo & Company upped their target price on Exxon Mobil from $135.00 to $136.00 and gave the company an “overweight” rating in a report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $128.74.

Exxon Mobil Stock Down 1.8 %

The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $113.86 and a 200 day simple moving average of $115.75. The stock has a market cap of $469.53 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 4.65 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.73% and a net margin of 9.61%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the company earned $2.27 earnings per share. As a group, analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Thursday, November 14th. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is presently 49.32%.

Institutional Investors Weigh In On Exxon Mobil

A number of hedge funds have recently made changes to their positions in XOM. Eagle Capital Management LLC raised its stake in Exxon Mobil by 4.9% in the 2nd quarter. Eagle Capital Management LLC now owns 2,460 shares of the oil and gas company’s stock valued at $283,000 after acquiring an additional 114 shares during the period. Chris Bulman Inc purchased a new stake in shares of Exxon Mobil during the second quarter worth $87,000. Delta Financial Advisors LLC boosted its holdings in shares of Exxon Mobil by 0.7% in the second quarter. Delta Financial Advisors LLC now owns 24,753 shares of the oil and gas company’s stock worth $2,850,000 after acquiring an additional 184 shares during the period. Asset Dedication LLC grew its position in shares of Exxon Mobil by 1.6% in the second quarter. Asset Dedication LLC now owns 63,346 shares of the oil and gas company’s stock valued at $7,292,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Gallacher Capital Management LLC raised its stake in shares of Exxon Mobil by 21.0% during the 2nd quarter. Gallacher Capital Management LLC now owns 2,975 shares of the oil and gas company’s stock valued at $342,000 after purchasing an additional 516 shares during the period. 61.80% of the stock is currently 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.