ExxonMobil (NYSE:XOM) Trading 2.5% Higher - Still a Buy?

Key Points

• ExxonMobil shares rose 2.5% on Monday, closing at $148.83 after touching an intraday high of $149.65. Trading volume was below average, with 16.4 million shares changing hands.
• Recent strength in the stock has been driven by higher oil prices and supply concerns, including renewed U.S.-Iran tensions and warnings from Exxon executives that oil inventories could fall to “unheard of” lows.
• Wall Street remains mixed but slightly constructive on ExxonMobil: analysts’ consensus rating is Hold with a $165.55 price target, while the company also continues to support investors with a quarterly dividend of $1.03 per share, yielding about 2.8%.

ExxonMobil Corporation (NYSE:XOM - Get Free Report)'s share price traded up 2.5% during mid-day trading on Monday . The stock traded as high as $149.65 and last traded at $148.8280. 16,443,849 shares were traded during trading, a decline of 22% from the average session volume of 20,987,037 shares. The stock had previously closed at $145.26.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Oil prices jumped after renewed US-Iran conflict and threats around the Strait of Hormuz raised concerns about supply disruptions, lifting ExxonMobil along with the broader energy sector. Exxon’s Stock Is on Track to Snap a 7-Day Losing Streak. What’s Lifting the Oil Sector.
• Positive Sentiment: ExxonMobil executives warned that oil inventories could reach “unheard of” lows, reinforcing the case for higher crude prices and stronger pricing power if supply remains tight. Exxon Mobil Warns On Oil Supply Tightness And Investor Valuation Risks
• Positive Sentiment: Analysts have turned more bullish on ExxonMobil, with Mizuho reportedly raising its price target, which can help support investor sentiment even as the stock reacts to oil-market headlines. Analysts Get Bullish on Exxon Mobil (XOM)
• Neutral Sentiment: Some recent articles discussed Exxon as a leading oil stock and highlighted its Nigeria offshore contract, but these items appear less important than the immediate crude-price and geopolitical drivers. This is why Exxon Mobil Corporation (XOM) is the Best Oil Stock to Buy amid the US-Iran War

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets reaffirmed a "market perform" rating and set a $155.00 price target on shares of ExxonMobil in a report on Wednesday, February 4th. Bank of America boosted their target price on shares of ExxonMobil from $135.00 to $151.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. Mizuho boosted their target price on shares of ExxonMobil from $159.00 to $175.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. Citigroup boosted their target price on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, April 2nd. Finally, Jefferies Financial Group boosted their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil currently has a consensus rating of "Hold" and a consensus price target of $165.55.

ExxonMobil Stock Up 2.5%

The stock has a market cap of $616.88 billion, a price-to-earnings ratio of 25.10, a P/E/G ratio of 0.63 and a beta of 0.16. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock's 50-day moving average price is $155.03 and its 200-day moving average price is $140.30.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.76 EPS. On average, sell-side analysts expect that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, May 15th. ExxonMobil's payout ratio is presently 69.48%.

Insider Activity

In related news, VP Darrin L. Talley sold 1,080 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $155.50, for a total transaction of $167,940.00. Following the transaction, the vice president owned 17,124 shares in the company, valued at $2,662,782. The trade was a 5.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Eagle Capital Management LLC raised its holdings in ExxonMobil by 15.3% during the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock worth $337,000 after buying an additional 376 shares during the last quarter. Caxton Associates LLP acquired a new position in ExxonMobil during the first quarter worth $305,000. Sivia Capital Partners LLC raised its holdings in ExxonMobil by 1.9% during the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock worth $1,211,000 after buying an additional 207 shares during the last quarter. United Bank raised its holdings in ExxonMobil by 2.8% during the second quarter. United Bank now owns 21,821 shares of the oil and gas company's stock worth $2,352,000 after buying an additional 600 shares during the last quarter. Finally, Schnieders Capital Management LLC. raised its holdings in ExxonMobil by 17.4% during the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock worth $3,957,000 after buying an additional 5,443 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

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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