ExxonMobil (NYSE:XOM) Trading Down 2.7% Following Analyst Downgrade

Key Points

• ExxonMobil shares fell 2.7% after Mizuho cut its price target on the stock from $175 to $170 while keeping a neutral rating. The stock traded as low as $137.12, below its prior close of $141.13.
• Despite the selloff, analyst sentiment remains mixed but generally constructive, with a consensus rating of Moderate Buy and an average price target of $164.45. Recent Wall Street calls include buys from UBS and Barclays, alongside neutral ratings from Mizuho and BNP Paribas Exane.
• ExxonMobil has several positive operational catalysts, including expectations for stronger Q2 earnings from higher oil prices and improved refining margins, plus a $1 billion investment in Nigeria’s Usan Infill Project that could add about 40,000 barrels per day of output.

ExxonMobil Corporation (NYSE:XOM - Get Free Report)'s stock price traded down 2.7% during mid-day trading on Thursday after Mizuho lowered their price target on the stock from $175.00 to $170.00. Mizuho currently has a neutral rating on the stock. ExxonMobil traded as low as $137.12 and last traded at $137.3050. 14,010,279 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 20,229,641 shares. The stock had previously closed at $141.13.

Several other research analysts also recently weighed in on the stock. BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the company a "neutral" rating in a research note on Friday, April 17th. Morgan Stanley cut their price objective on shares of ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Barclays upped their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. UBS Group lifted their target price on ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, 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. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.45.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signaled that higher oil prices should significantly boost its second-quarter upstream earnings, with commodity tailwinds helping offset some disruption from geopolitical conflict. Reuters: Exxon Mobil signals higher second-quarter earnings
• Positive Sentiment: Reports indicate Exxon’s Q2 profit could jump sharply as crude prices rise and refining/upstream margins improve, which supports the stock’s recent rebound. Zacks: Strong Commodity Tailwinds Poised to Boost XOM's Q2 Results
• Positive Sentiment: ExxonMobil and partners are committing $1 billion to the Usan Infill Project in Nigeria, which is expected to add about 40,000 barrels per day of production and strengthen long-term output growth. Reuters: ExxonMobil to invest $1 billion in Nigeria's oilfield

Hedge Funds Weigh In On ExxonMobil

Several large investors have recently modified their holdings of XOM. Eagle Capital Management LLC boosted its position in ExxonMobil by 15.3% during the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock valued at $337,000 after purchasing an additional 376 shares during the period. Caxton Associates LLP acquired a new stake in shares of ExxonMobil during the 1st quarter valued at $305,000. Sivia Capital Partners LLC lifted its position in shares of ExxonMobil by 1.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock valued at $1,211,000 after acquiring an additional 207 shares during the last quarter. United Bank grew its holdings in shares of ExxonMobil by 2.8% in the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company's stock worth $2,352,000 after acquiring an additional 600 shares during the last quarter. Finally, Schnieders Capital Management LLC. raised its position in shares of 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 purchasing an additional 5,443 shares during the period. Institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Down 2.7%

The company has a market capitalization of $569.12 billion, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $146.80 and a 200-day moving average price of $145.28.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the previous year, the company earned $1.76 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that ExxonMobil Corporation will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, May 15th. ExxonMobil's dividend payout ratio is 69.48%.

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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