ExxonMobil (NYSE:XOM) Stock Price Down 1.6% - Here's Why

Key Points

• ExxonMobil shares fell 1.6% to about $154.51 as oil prices declined after easing Middle East tensions reduced the geopolitical risk premium on energy stocks.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $163.25, although some firms maintained neutral ratings or lowered targets.
• ExxonMobil exceeded first-quarter earnings and revenue expectations, while maintaining a quarterly dividend of $1.03 per share, equivalent to a 2.7% yield.

ExxonMobil Corporation (NYSE:XOM - Get Free Report)'s stock price fell 1.6% during mid-day trading on Monday . The company traded as low as $152.50 and last traded at $154.5050. Approximately 13,947,145 shares traded hands during trading, a decline of 29% from the average session volume of 19,719,760 shares. The stock had previously closed at $156.94.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil may still offer value: an analysis says its discounted-cash-flow estimate and market multiples indicate the stock could be trading below underlying fundamentals, despite a 227.6% five-year return. ExxonMobil Stock Could Be Cheap On Value Despite A 228% Run
• Neutral Sentiment: ExxonMobil is moving new oil spending toward Nigeria and other African operations, a strategy that could support future production but also introduces execution and geopolitical considerations. ExxonMobil Is Moving New Oil Spending To Nigeria And Africa
• Neutral Sentiment: XOM is receiving unusually high investor attention, but the search-interest report does not identify a new fundamental catalyst by itself. Investors Heavily Search ExxonMobil
• Neutral Sentiment: ExxonMobil is among the major companies reporting during a busy earnings week. The report is a potential catalyst, while broader markets await the Fed’s rate decision and new inflation data. Fed Meeting, Inflation, Boeing, Meta, Apple, Exxon, and More to Watch This Week
• Negative Sentiment: Oil prices fell as Middle East tensions eased, reducing the geopolitical risk premium and pressuring energy shares, including XOM. Exxon Mobil Shares Fall as Oil Prices Tumble

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on XOM shares. Weiss Ratings downgraded shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price objective on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Wells Fargo & Company boosted their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Mizuho cut their target price on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Finally, Citigroup restated a "neutral" rating on shares of ExxonMobil in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.25.

ExxonMobil Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The firm has a market capitalization of $640.42 billion, a PE ratio of 26.05, a P/E/G ratio of 0.64 and a beta of 0.17. The firm has a fifty day moving average price of $145.91 and a 200 day moving average price of $147.60.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $81.13 billion. During the same quarter last year, the business posted $1.76 EPS. ExxonMobil's revenue was up 2.4% on a year-over-year basis. Research analysts anticipate that ExxonMobil Corporation will post 11.55 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. ExxonMobil's payout ratio is currently 69.48%.

Hedge Funds Weigh In On ExxonMobil

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aventus Investment Advisors Inc. acquired a new stake in ExxonMobil during the 2nd quarter worth about $27,000. Portus Wealth Advisors LLC acquired a new position in shares of ExxonMobil in the 1st quarter valued at about $36,000. Berbice Capital Management LLC purchased a new stake in shares of ExxonMobil in the fourth quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in shares of ExxonMobil during the fourth quarter worth approximately $27,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 187 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

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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