ExxonMobil (NYSE:XOM) Trading Up 1% - What's Next?

Key Points

• ExxonMobil shares rose 1% on Friday, trading as high as $138.97, though volume was well below average. The stock still sits below both its 50-day and 200-day moving averages.
• Recent news was mostly constructive: ExxonMobil raised its Q2 earnings outlook amid stronger commodity prices and margins, and it also committed $1 billion to Nigeria’s Usan Infill Project, which could add about 40,000 barrels per day of production.
• Analysts remain broadly positive but somewhat cautious. Several firms lifted price targets, yet the consensus rating is only Moderate Buy with an average target of $164.45, and some commentary says the stock may be stretched after a strong multi-year run.

ExxonMobil Corporation (NYSE:XOM - Get Free Report)'s stock price shot up 1% during trading on Friday . The stock traded as high as $138.97 and last traded at $138.8370. 9,221,459 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 20,177,932 shares. The stock had previously closed at $137.46.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil updated its Q2 earnings outlook and analysts noted stronger quarter-over-quarter performance across its major business segments, with higher crude prices and wider margins expected to support results. Strong Commodity Tailwinds Poised to Boost XOM's Q2 Results
• Positive Sentiment: ExxonMobil and partners committed $1 billion to the Usan Infill Project in Nigeria, which could add about 40,000 barrels per day of production and support longer-term output growth. ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says
• Neutral Sentiment: Mizuho lowered its price target on ExxonMobil to $170 from $175 while keeping a neutral rating, signaling some caution but still implying upside from current levels. ExxonMobil NYSE: XOM Price Target Lowered to $170.00 at Mizuho
• Neutral Sentiment: Commentary on ExxonMobil’s earnings says the stock still looks reasonable on fundamentals, but some analysts think it may be stretched after a large multiyear run-up, which could limit near-term enthusiasm. ExxonMobil (XOM) Stock Looks Reasonable On Earnings But Stretched After 180% Run
• Negative Sentiment: One market update noted XOM fell despite a generally stronger market session, reflecting pressure from falling crude prices and a risk-off shift away from energy names. Exxon Mobil Holdings (XOM) Stock Falls Amid Market Uptick: What Investors Need to Know

Analysts Set New Price Targets

Several research firms have recently issued reports on XOM. Jefferies Financial Group upped their target price on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Bank of America upgraded ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price target on the stock in a report on Tuesday, June 16th. HSBC boosted their price objective on ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a research report on Friday, March 20th. Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. Finally, Scotiabank lifted their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $164.45.

ExxonMobil Stock Up 1.0%

The stock's 50-day moving average price is $146.53 and its two-hundred day moving average price is $145.43. 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 has a market capitalization of $575.47 billion, a P/E ratio of 23.41, a P/E/G ratio of 0.61 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion for the quarter, compared to analysts' expectations of $81.13 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. ExxonMobil's revenue was up 2.4% on a year-over-year basis. As a group, research analysts expect that ExxonMobil Corporation will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Eagle Capital Management LLC lifted 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 valued at $337,000 after purchasing an additional 376 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of ExxonMobil in the first quarter valued at approximately $305,000. Sivia Capital Partners LLC raised its position in shares of ExxonMobil by 1.9% in the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock valued at $1,211,000 after purchasing an additional 207 shares during the period. United Bank lifted its stake in shares of ExxonMobil by 2.8% during the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company's stock valued at $2,352,000 after buying an additional 600 shares in the last quarter. Finally, Schnieders Capital Management LLC. lifted its stake in shares of ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock valued at $3,957,000 after buying an additional 5,443 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.