ExxonMobil (NYSE:XOM) Trading Up 2.2% - What's Next?

Key Points

• ExxonMobil shares rose 2.2% as oil prices strengthened, with the stock trading as high as $154.91 amid concerns about Iran-related tensions and tighter supply conditions.
• Several headlines were supportive for Exxon, including comments from an Exxon senior vice president that Brent crude could spike to $150-$160 if inventories keep tightening, and analyst notes pointing to the company’s low-cost Permian Basin production advantages.
• The company recently beat quarterly earnings estimates and also announced a quarterly dividend of $1.03 per share, implying a 2.7% annualized yield.

ExxonMobil Corporation (NYSE:XOM - Get Free Report)'s stock price rose 2.2% on Wednesday . The stock traded as high as $154.91 and last traded at $152.9160. Approximately 14,244,851 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 20,828,164 shares. The stock had previously closed at $149.56.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Oil prices have surged as Iran-related tensions and supply disruptions continue to cloud the market, which is favorable for ExxonMobil’s upstream earnings and cash flow. Oil: Trump says peace talks are still on, but Iran says otherwise
• Positive Sentiment: An Exxon senior vice president said Brent crude could spike to $150-$160 in the coming weeks if inventories keep tightening, reinforcing the view that XOM could benefit from a stronger oil backdrop. Exxon SVP Warns Oil Could Spike to $150-160 Per Barrel in ‘Coming Weeks'
• Positive Sentiment: Analysts highlighted ExxonMobil’s Permian Basin advantage, noting low breakeven costs and rising production that could support profitability even if oil prices cool. ExxonMobil's Permian Advantage: Low Breakeven, Rising Production
• Positive Sentiment: ExxonMobil shareholders approved moving the company’s legal domicile from New Jersey to Texas, a symbolic but potentially valuation-friendly change that aligns headquarters and legal structure with its operational base. Exxon Mobil Texas Move And What It Means For XOM Valuation
• Positive Sentiment: Reports that ExxonMobil may be weighing a return to Venezuela suggest possible access to additional reserves and future production opportunities. Exxon Mobil Weighs Venezuela Return And Valuation Upside For Investors
• Neutral Sentiment: Broader commentary pieces on oil stocks and ExxonMobil’s valuation were supportive in tone, but they did not include a major new operational or financial catalyst. Oil Stocks To Add to Your Watchlist - May 30th
• Neutral Sentiment: ExxonMobil was also featured in articles arguing the stock remains undervalued after strong multiyear returns, which may help sentiment but is not a direct earnings driver. Is Exxon Mobil (XOM) Still Undervalued After Strong Multi-Year Total Returns

Wall Street Analysts Forecast Growth

XOM has been the topic of a number of research analyst reports. Loop Capital set a $123.00 price objective on shares of ExxonMobil in a report on Tuesday, February 3rd. Sanford C. Bernstein cut their target price on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. Piper Sandler cut their target price on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Wells Fargo & Company lifted their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Finally, Citigroup lifted their target price on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, April 2nd. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, ExxonMobil presently has a consensus rating of "Hold" and a consensus price target of $165.55.

ExxonMobil Trading Up 2.2%

The business's fifty day moving average is $154.85 and its 200-day moving average is $140.51. The stock has a market capitalization of $633.83 billion, a PE ratio of 25.79, a P/E/G ratio of 0.65 and a beta of 0.16. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. ExxonMobil's revenue was up 2.4% compared to the same quarter last year. As a group, analysts anticipate that ExxonMobil Corporation will post 11.49 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

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

Insider Buying and Selling at ExxonMobil

In other news, VP Darrin L. Talley sold 1,080 shares of the company's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the transaction, the vice president directly owned 17,124 shares in the company, valued at approximately $2,662,782. This represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.03% of the company's stock.

Institutional Trading of ExxonMobil

Several institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its holdings in ExxonMobil by 9.5% in the first quarter. Parallel Advisors LLC now owns 84,848 shares of the oil and gas company's stock valued at $14,395,000 after acquiring an additional 7,392 shares in the last quarter. Blue Edge Capital LLC raised its holdings in shares of ExxonMobil by 10.8% during the first quarter. Blue Edge Capital LLC now owns 46,079 shares of the oil and gas company's stock worth $7,818,000 after purchasing an additional 4,475 shares during the period. First Nebraska Trust Co acquired a new stake in shares of ExxonMobil during the first quarter worth $8,896,000. Foguth Wealth Management LLC. raised its holdings in shares of ExxonMobil by 4.1% during the first quarter. Foguth Wealth Management LLC. now owns 2,185 shares of the oil and gas company's stock worth $371,000 after purchasing an additional 87 shares during the period. Finally, Financial Solutions Advisory Group Inc. acquired a new stake in shares of ExxonMobil during the first quarter worth $1,747,000. 61.80% of the stock is owned by institutional investors and hedge funds.

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.

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.