Exxon Mobil (NYSE:XOM) Trading Up 2.1% - Time to Buy?

Key Points

• Exxon Mobil's shares rose 2.1% during mid-day trading with a current price of $112.16, despite a significant decrease in trading volume compared to its average.
• Analysts have mixed opinions on Exxon Mobil's stock, with a consensus rating of "Hold" and a price target of $125.00, while some firms have upgraded their ratings to "Buy" and increased price targets.
• The company reported a quarterly earnings of $1.64 per share, exceeding expectations, although revenue fell 12.4% year-over-year to $81.51 billion.

Shares of Exxon Mobil Corporation (NYSE:XOM - Get Free Report) rose 2.1% during mid-day trading on Tuesday . The stock traded as high as $112.51 and last traded at $112.16. Approximately 3,942,381 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 16,534,689 shares. The stock had previously closed at $109.85.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on XOM shares. Barclays reaffirmed a "hold" rating on shares of Exxon Mobil in a research report on Thursday, May 22nd. UBS Group raised their price objective on shares of Exxon Mobil from $130.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Melius started coverage on shares of Exxon Mobil in a report on Wednesday, August 20th. They issued a "hold" rating and a $111.00 target price on the stock. Wall Street Zen cut shares of Exxon Mobil from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Piper Sandler increased their price target on shares of Exxon Mobil from $134.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Exxon Mobil has an average rating of "Hold" and a consensus price target of $125.00.

Exxon Mobil Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.88. The stock has a market cap of $476.04 billion, a PE ratio of 15.86, a PEG ratio of 2.04 and a beta of 0.57. The company has a 50-day simple moving average of $110.49 and a 200-day simple moving average of $109.09.

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

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $0.99 dividend. The ex-dividend date is Friday, August 15th. This represents a $3.96 annualized dividend and a dividend yield of 3.5%. Exxon Mobil's dividend payout ratio is 56.25%.

Insider Buying and Selling

In other news, VP Darrin L. Talley sold 2,158 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was 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 directly owned 13,829 shares of the company's stock, valued at $1,527,413.05. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.03% of the company's stock.

Institutional Trading of Exxon Mobil

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Exxon Mobil in the 2nd quarter valued at $6,163,719,000. Nuveen LLC acquired a new position in Exxon Mobil in the first quarter valued at about $2,730,414,000. GQG Partners LLC boosted its position in Exxon Mobil by 15,135.7% during the first quarter. GQG Partners LLC now owns 10,071,077 shares of the oil and gas company's stock valued at $1,197,753,000 after purchasing an additional 10,004,975 shares during the last quarter. GAMMA Investing LLC raised its stake in Exxon Mobil by 14,242.7% in the first quarter. GAMMA Investing LLC now owns 9,457,554 shares of the oil and gas company's stock valued at $1,124,787,000 after buying an additional 9,391,614 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Exxon Mobil during the second quarter worth approximately $607,621,000. Institutional investors and hedge funds own 61.80% of the company's stock.

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.

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