Exxon Mobil (NYSE:XOM) Announces Quarterly Earnings Results

Key Points

• Exxon Mobil reported earnings of $1.64 per share for the quarter, exceeding the consensus estimate of $1.47, with total revenue of $81.51 billion, surpassing analysts' expectations of $79.07 billion.
• The company announced a quarterly dividend of $0.99 per share, resulting in an annualized dividend of $3.96 and a yield of 3.6%.
• Exxon Mobil's stock has a market capitalization of $472.24 billion, with a P/E ratio of 14.54 and a current average target price from analysts of $125.42.

Exxon Mobil (NYSE:XOM - Get Free Report) posted its earnings results on Friday. The oil and gas company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.17, Zacks reports. The company had revenue of $81.51 billion for the quarter, compared to analyst estimates of $79.07 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The business's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the business posted $2.14 earnings per share.

Exxon Mobil Stock Performance

Shares of XOM traded down $2.06 on Friday, reaching $109.58. The company's stock had a trading volume of 13,080,617 shares, compared to its average volume of 16,784,494. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.24 and a quick ratio of 0.90. The stock has a market capitalization of $472.24 billion, a P/E ratio of 14.54, a PEG ratio of 2.10 and a beta of 0.50. The stock's 50 day simple moving average is $109.35 and its two-hundred day simple moving average is $109.15. Exxon Mobil has a 12-month low of $97.80 and a 12-month high of $126.34.

Exxon Mobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.6%. Exxon Mobil's payout ratio is 52.52%.

Hedge Funds Weigh In On Exxon Mobil

An institutional investor recently bought a new position in Exxon Mobil stock. Caxton Associates LLP purchased a new stake in shares of Exxon Mobil Corporation (NYSE:XOM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,565 shares of the oil and gas company's stock, valued at approximately $305,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on XOM shares. Wells Fargo & Company set a $127.00 price target on shares of Exxon Mobil and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Piper Sandler upped their price objective on shares of Exxon Mobil from $131.00 to $134.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Mizuho cut their target price on shares of Exxon Mobil from $129.00 to $124.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. TD Cowen lifted their price objective on shares of Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Barclays reissued a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Exxon Mobil presently has an average rating of "Moderate Buy" and an average target price of $125.42.

Exxon Mobil Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.