Exxon Mobil (NYSE:XOM) Trading Down 1.6% - Here's What Happened

Exxon Mobil Corporation (NYSE:XOM - Get Free Report) shares dropped 1.6% on Tuesday . The company traded as low as $109.09 and last traded at $109.99. Approximately 6,189,718 shares changed hands during trading, a decline of 60% from the average daily volume of 15,652,256 shares. The stock had previously closed at $111.74.

Wall Street Analysts Forecast Growth

XOM has been the topic of several research reports. Piper Sandler downgraded Exxon Mobil from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 28th. Barclays reissued a "hold" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Wells Fargo & Company set a $127.00 target price on Exxon Mobil and gave the stock an "overweight" rating in a report on Thursday. UBS Group dropped their target price on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, TD Cowen raised their price target on shares of Exxon Mobil from $120.00 to $128.00 and gave the stock a "buy" rating in a research report on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $125.10.

Exxon Mobil Stock Performance

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 company has a market capitalization of $471.49 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 2.10 and a beta of 0.49. The firm has a fifty day simple moving average of $106.98 and a 200 day simple moving average of $108.52.

Exxon Mobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $1.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.03. The firm had revenue of $83.13 billion for the quarter, compared to analysts' expectations of $86.11 billion. Exxon Mobil had a net margin of 9.49% and a return on equity of 12.06%. The firm's revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 EPS. On average, analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.62%. Exxon Mobil's dividend payout ratio (DPR) is presently 52.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of Exxon Mobil by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 93,299,598 shares of the oil and gas company's stock worth $10,023,875,000 after purchasing an additional 1,104,617 shares in the last quarter. Norges Bank acquired a new stake in shares of Exxon Mobil in the fourth quarter valued at about $6,936,737,000. Northern Trust Corp lifted its stake in shares of Exxon Mobil by 7.0% in the fourth quarter. Northern Trust Corp now owns 46,017,358 shares of the oil and gas company's stock worth $4,950,087,000 after buying an additional 2,998,892 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Exxon Mobil by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 45,323,453 shares of the oil and gas company's stock worth $5,390,318,000 after acquiring an additional 1,340,343 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Exxon Mobil by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 35,662,602 shares of the oil and gas company's stock worth $3,836,226,000 after acquiring an additional 4,140,046 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

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.