Exxon Mobil (NYSE:XOM) Shares Down 2% - Here's Why

Key Points

• Exxon Mobil's shares fell by 2%, trading as low as $110.06 and closing at $110.10, with a significant drop in trading volume of 75% from its average.
• Analysts maintain a generally cautious outlook, with an average rating of "Hold" and a price target of $125.00, while Wells Fargo set a higher target of $127.00.
• The company reported $1.64 EPS for the last quarter, exceeding expectations, but noted a 12.4% decline in year-over-year revenue.

Shares of Exxon Mobil Corporation (NYSE:XOM - Get Free Report) traded down 2% during trading on Friday . The company traded as low as $110.06 and last traded at $110.10. 4,054,049 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 16,539,668 shares. The stock had previously closed at $112.40.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Melius assumed coverage on shares of Exxon Mobil in a research note on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price on the stock. Barclays restated a "hold" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Royal Bank Of Canada restated a "sector perform" rating on shares of Exxon Mobil in a research note on Thursday, May 22nd. Wells Fargo & Company set a $127.00 target price on shares of Exxon Mobil and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Melius Research assumed coverage on shares of Exxon Mobil in a research report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $125.00.

Exxon Mobil Price Performance

The stock's 50-day moving average is $110.46 and its 200 day moving average is $109.13. The company has a market cap of $465.66 billion, a PE ratio of 15.52, a PEG ratio of 2.09 and a beta of 0.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88.

Exxon Mobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.17. The business had revenue of $81.51 billion during the quarter, compared to analysts' expectations of $79.07 billion. Exxon Mobil had a net margin of 9.17% and a return on equity of 11.34%. The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company posted $2.14 earnings per share. On average, equities analysts anticipate that Exxon Mobil Corporation will post 7.43 earnings per share for the current fiscal year.

Exxon Mobil Dividend Announcement

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 paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Exxon Mobil's dividend payout ratio is currently 56.25%.

Insider Transactions at Exxon Mobil

In related news, VP Darrin L. Talley sold 2,158 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $110.45, for a total transaction of $238,351.10. Following the completion of the sale, the vice president owned 13,829 shares of the company's stock, valued at approximately $1,527,413.05. This represents a 13.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Exxon Mobil

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Exxon Mobil by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 431,058,875 shares of the oil and gas company's stock worth $46,468,147,000 after acquiring an additional 1,111,231 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Exxon Mobil by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 96,307,931 shares of the oil and gas company's stock worth $10,345,132,000 after buying an additional 342,967 shares in the last quarter. Norges Bank acquired a new stake in Exxon Mobil during the 2nd quarter worth approximately $6,163,719,000. Bank of New York Mellon Corp lifted its holdings in Exxon Mobil by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 46,598,313 shares of the oil and gas company's stock worth $5,023,298,000 after buying an additional 1,274,860 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Exxon Mobil by 3.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 33,500,304 shares of the oil and gas company's stock worth $3,611,553,000 after buying an additional 1,126,912 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

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.

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