ExxonMobil (NYSE:XOM) Trading Down 3.1% - Should You Sell?

Key Points

• ExxonMobil shares fell 3.1% in Tuesday trading, dipping as low as $149.47 before last trading around $150.18 on volume below its daily average.
• The company continues to attract bullish analyst coverage, with several firms raising price targets; consensus on MarketBeat remains a Moderate Buy with a target of $164.90.
• Fundamentally, ExxonMobil reported better-than-expected quarterly earnings and revenue, and it recently announced a quarterly dividend of $1.03 per share, yielding about 2.7%.

ExxonMobil Corporation (NYSE:XOM - Get Free Report)'s stock price was down 3.1% during mid-day trading on Tuesday . The stock traded as low as $149.47 and last traded at $150.18. Approximately 13,008,466 shares were traded during trading, a decline of 38% from the average daily volume of 21,082,689 shares. The stock had previously closed at $154.92.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is seeking environmental approval for a new offshore project in Guyana, with the proposed Haimara gas-condensate development potentially adding another growth driver to its prolific Stabroek block portfolio. ExxonMobil seeks environmental approval for new offshore project in Guyana
• Positive Sentiment: Analyst and market commentary continues to highlight XOM as a high-yield, stable energy name for income-focused investors, reinforcing its appeal as a defensive holding even in a volatile oil market. 5 Top-Ranked High-Yielding Energy Stocks to Buy for a Stable Portfolio
• Positive Sentiment: ExxonMobil is also being featured in articles recommending high-yield stocks for long-term holding, which can support investor sentiment around its dividend and cash-flow durability. 5 High-Yield Stocks and ETFs to Buy and Hold for the Next Decade (XOM)

Analysts Set New Price Targets

XOM has been the subject of a number of research reports. Scotiabank boosted their price target on ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. BMO Capital Markets reiterated a "market perform" rating and issued a $155.00 price target on shares of ExxonMobil in a report on Wednesday, February 4th. Jefferies Financial Group boosted their price target on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Barclays boosted their price target on ExxonMobil from $163.00 to $182.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, UBS Group boosted their price target on ExxonMobil from $171.00 to $174.00 and gave the company a "buy" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $164.90.

ExxonMobil Stock Performance

The business has a fifty day simple moving average of $155.82 and a two-hundred day simple moving average of $139.41. 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 company has a market cap of $622.49 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 0.68 and a beta of 0.19.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its 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. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. Research analysts anticipate that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Announces Dividend

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

Insiders Place Their Bets

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

Institutional Trading of ExxonMobil

Hedge funds have recently bought and sold shares of the stock. Ruggaard & Associates LLC increased its position in shares of ExxonMobil by 1.8% during the first quarter. Ruggaard & Associates LLC now owns 5,774 shares of the oil and gas company's stock worth $980,000 after purchasing an additional 100 shares in the last quarter. Axiom Investment Management LLC acquired a new position in shares of ExxonMobil during the first quarter worth $326,000. Summitry LLC increased its position in shares of ExxonMobil by 17.7% during the first quarter. Summitry LLC now owns 7,136 shares of the oil and gas company's stock worth $1,211,000 after purchasing an additional 1,071 shares in the last quarter. WNY Asset Management LLC acquired a new position in shares of ExxonMobil during the first quarter worth $2,917,000. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of ExxonMobil during the first quarter worth $34,224,000. Hedge funds and other institutional investors 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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