Exxon Mobil (NYSE:XOM) Trading Up 2.1% After Analyst Upgrade

Exxon Mobil Corporation (NYSE:XOM - Get Free Report)'s stock price shot up 2.1% on Tuesday after Piper Sandler raised their price target on the stock from $131.00 to $134.00. Piper Sandler currently has an overweight rating on the stock. Exxon Mobil traded as high as $113.93 and last traded at $113.48. 4,242,775 shares traded hands during trading, a decline of 73% from the average session volume of 15,727,146 shares. The stock had previously closed at $111.11.

XOM has been the topic of several other reports. UBS Group reduced their price target on Exxon Mobil from $135.00 to $131.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Exxon Mobil in a report on Thursday, May 22nd. Scotiabank reduced their target price on Exxon Mobil from $140.00 to $115.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. TD Cowen upped their target price on Exxon Mobil from $120.00 to $128.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded Exxon Mobil from a "sell" rating to a "hold" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $125.55.

Hedge Funds Weigh In On Exxon Mobil

A number of institutional investors have recently modified their holdings of XOM. Proficio Capital Partners LLC raised its position in shares of Exxon Mobil by 35.3% during the fourth quarter. Proficio Capital Partners LLC now owns 18,252 shares of the oil and gas company's stock worth $1,963,000 after purchasing an additional 4,760 shares during the period. Edgestream Partners L.P. purchased a new stake in Exxon Mobil in the 4th quarter valued at $863,000. Tortoise Investment Management LLC raised its position in Exxon Mobil by 2.8% in the 4th quarter. Tortoise Investment Management LLC now owns 4,214 shares of the oil and gas company's stock valued at $453,000 after buying an additional 115 shares during the last quarter. Claris Advisors LLC MO raised its position in Exxon Mobil by 44.2% in the 4th quarter. Claris Advisors LLC MO now owns 6,384 shares of the oil and gas company's stock valued at $687,000 after buying an additional 1,958 shares during the last quarter. Finally, Davis R M Inc. raised its position in Exxon Mobil by 4.9% in the 4th quarter. Davis R M Inc. now owns 421,722 shares of the oil and gas company's stock valued at $45,365,000 after buying an additional 19,607 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Exxon Mobil Price Performance

The firm has a market capitalization of $490.44 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 2.14 and a beta of 0.50. The business has a 50-day moving average of $107.48 and a 200 day moving average of $108.62. The company has a current ratio of 1.24, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12.

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 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.03. The business had revenue of $83.13 billion during the quarter, compared to analyst estimates of $86.11 billion. Exxon Mobil had a return on equity of 12.06% and a net margin of 9.49%. Exxon Mobil's quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.06 EPS. As a group, research analysts anticipate that Exxon Mobil Corporation will post 7.43 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

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 $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date was Thursday, May 15th. Exxon Mobil's payout ratio is currently 52.52%.

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.