ExxonMobil (NYSE:XOM) Stock Price Up 4.2% - Here's What Happened

Key Points

• ExxonMobil shares rose 4.2% to $159.46 in Monday trading, approaching the analyst consensus target price of $163.29.
• Analyst sentiment remains mixed, with 10 analysts rating the stock a Buy and 13 assigning a Hold rating; recent price targets range from $163 to $180.
• ExxonMobil reported quarterly revenue of $114.53 billion, exceeding estimates, though adjusted earnings of $3.52 per share slightly missed expectations. The company also announced a quarterly dividend of $1.03 per share, representing a 2.6% annualized yield.

Shares of ExxonMobil Corporation (NYSE:XOM - Get Free Report) rose 4.2% during trading on Monday . The company traded as high as $160.37 and last traded at $159.46. 17,856,449 shares were traded during trading, a decline of 8% from the average session volume of 19,430,139 shares. The stock had previously closed at $153.04.

Analyst Ratings Changes

A number of research analysts have issued reports on XOM shares. Morgan Stanley dropped their target price on shares of ExxonMobil from $171.00 to $168.00 and set an "overweight" rating for the company in a report on Monday, June 29th. Scotiabank boosted their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada restated a "sector perform" rating and issued a $180.00 price target on shares of ExxonMobil in a report on Tuesday, May 5th. UBS Group set a $168.00 price objective on ExxonMobil in a research note on Friday. Finally, Zacks Research cut ExxonMobil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $163.29.

ExxonMobil Trading Up 4.2%

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market cap of $660.95 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 0.58 and a beta of 0.17. The business's 50-day simple moving average is $146.12 and its 200-day simple moving average is $149.64.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The business had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. Research analysts predict that ExxonMobil Corporation will post 12.34 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil's dividend payout ratio is 53.02%.

Hedge Funds Weigh In On ExxonMobil

A number of institutional investors have recently made changes to their positions in the stock. Aventus Investment Advisors Inc. purchased a new position in ExxonMobil in the 2nd quarter valued at about $27,000. Portus Wealth Advisors LLC acquired a new position in shares of ExxonMobil in the first quarter valued at approximately $36,000. Berbice Capital Management LLC purchased a new position in shares of ExxonMobil during the fourth quarter valued at approximately $26,000. Midwest Capital Advisors LLC purchased a new position in shares of ExxonMobil during the fourth quarter valued at approximately $27,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted 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 worth $27,000 after acquiring an additional 187 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

About ExxonMobil

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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