ExxonMobil (NYSE:XOM) Shares Up 3.2% - Should You Buy?

Key Points

• ExxonMobil shares rose 3.2% on Friday, trading above prior levels on heavier-than-average volume, reflecting strong investor interest in the stock.
• Fundamentals and news flow were positive: higher oil prices are expected to support upstream earnings, Exxon resumed drilling in Guyana’s Canje block, and a Texas jury cleared the company of liability in a long-running investor lawsuit.
• Analysts remain broadly constructive, with a consensus Moderate Buy rating and an average price target of $163.95, even though some firms recently trimmed targets or downgraded the stock.

ExxonMobil Corporation (NYSE:XOM - Get Free Report) shot up 3.2% during trading on Friday . The stock traded as high as $158.00 and last traded at $157.7150. 27,842,533 shares traded hands during trading, an increase of 30% from the average session volume of 21,341,398 shares. The stock had previously closed at $152.78.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices are seen supporting Exxon Mobil’s upstream earnings, with WTI above $100 helping boost production economics in key areas like the Permian Basin and Guyana. How Will High Oil Prices Aid ExxonMobil's Energy Business?
• Positive Sentiment: A Texas jury cleared Exxon Mobil of liability in a long-running investor lawsuit tied to its Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang for the company. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
• Positive Sentiment: Exxon resumed drilling in Guyana’s Canje block after a four-year absence, reinforcing investor expectations for future exploration and production growth. Exxon resumes drilling in Guyana's Canje block after four-year absence
• Neutral Sentiment: Exxon announced it will present at Bernstein’s Strategic Decisions Conference later this month, a routine investor-relations update with limited immediate trading impact. ExxonMobil to Speak at Bernstein 42nd Annual Strategic Decisions Conference
• Negative Sentiment: Bernstein trimmed its price target on Exxon Mobil, which may temper enthusiasm even though the stock still has support from energy-market strength. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
• Negative Sentiment: Investors are also weighing governance concerns around Exxon’s proposed move to redomicile from New Jersey to Texas, which some shareholder advocates say could weaken shareholder rights. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals

Analysts Set New Price Targets

Several brokerages have recently commented on XOM. Scotiabank lifted their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Wells Fargo & Company lifted their target price on ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Citigroup lifted their target price on ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, April 2nd. Wolfe Research downgraded ExxonMobil from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 21st. Finally, BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the company a "neutral" rating in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $163.95.

ExxonMobil Price Performance

The stock has a market capitalization of $653.72 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 0.66 and a beta of 0.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The company has a fifty day simple moving average of $154.89 and a two-hundred day simple moving average of $137.31.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. During the same period in the previous year, the firm earned $1.76 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts expect that ExxonMobil Corporation will post 11.5 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil's payout ratio is 69.48%.

Insider Activity at ExxonMobil

In other news, VP Darrin L. Talley sold 2,150 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $157.82, for a total transaction of $339,313.00. Following the completion of the transaction, the vice president owned 18,204 shares of the company's stock, valued at approximately $2,872,955.28. The trade was a 10.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On ExxonMobil

Institutional investors have recently modified their holdings of the business. Portus Wealth Advisors LLC acquired a new position in shares of ExxonMobil during the 1st quarter worth $36,000. Berbice Capital Management LLC acquired a new position in ExxonMobil in the 4th quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new position in ExxonMobil in the 4th quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 187 shares in the last quarter. Finally, Atlantic Private Wealth LLC increased its holdings in ExxonMobil by 776.9% in the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil Company Profile

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

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