Exxon Mobil (NYSE:XOM) Trading Down 4% Following Weak Earnings

Exxon Mobil Co. (NYSE:XOM - Get Free Report)'s share price was down 4% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $116.22 and last traded at $116.51. Approximately 10,320,041 shares were traded during trading, a decline of 43% from the average daily volume of 17,992,779 shares. The stock had previously closed at $121.33.

The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.13). The company had revenue of $83.08 billion during the quarter, compared to the consensus estimate of $79.69 billion. Exxon Mobil had a net margin of 10.45% and a return on equity of 18.51%. The business's revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.83 earnings per share.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Wednesday, February 14th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.80 dividend on an annualized basis and a yield of 3.22%. Exxon Mobil's payout ratio is currently 42.74%.

Analysts Set New Price Targets

Several equities research analysts recently commented on XOM shares. Barclays assumed coverage on Exxon Mobil in a research note on Wednesday, April 10th. They set an "overweight" rating and a $147.00 target price for the company. Truist Financial increased their price objective on shares of Exxon Mobil from $140.00 to $146.00 and gave the stock a "buy" rating in a research report on Friday, April 5th. Redburn Atlantic raised Exxon Mobil from a "neutral" rating to a "buy" rating and boosted their target price for the company from $116.00 to $119.00 in a research report on Tuesday, January 9th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $120.00 price target on shares of Exxon Mobil in a report on Monday, February 5th. Finally, Mizuho reaffirmed a "neutral" rating and set a $125.00 target price on shares of Exxon Mobil in a research report on Thursday, April 4th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Exxon Mobil presently has an average rating of "Moderate Buy" and a consensus price target of $132.28.

Insider Activity at Exxon Mobil

In other news, VP Darrin L. Talley sold 2,400 shares of Exxon Mobil stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total transaction of $252,000.00. Following the sale, the vice president now owns 30,189 shares of the company's stock, valued at approximately $3,169,845. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Exxon Mobil

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Exxon Mobil during the fourth quarter valued at $5,519,753,000. Global Assets Advisory LLC grew its stake in shares of Exxon Mobil by 16,399.4% in the first quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company's stock worth $1,466,589,000 after acquiring an additional 12,540,435 shares during the period. Fisher Asset Management LLC lifted its position in Exxon Mobil by 566.2% during the fourth quarter. Fisher Asset Management LLC now owns 13,197,713 shares of the oil and gas company's stock valued at $1,319,507,000 after purchasing an additional 11,216,602 shares during the period. International Assets Investment Management LLC increased its position in Exxon Mobil by 10,221.0% during the fourth quarter. International Assets Investment Management LLC now owns 4,917,763 shares of the oil and gas company's stock valued at $491,678,000 after acquiring an additional 4,870,115 shares during the last quarter. Finally, FMR LLC increased its position in shares of Exxon Mobil by 3.0% during the 3rd quarter. FMR LLC now owns 145,199,301 shares of the oil and gas company's stock valued at $17,072,534,000 after purchasing an additional 4,162,149 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Exxon Mobil Stock Down 2.8 %

The firm has a market capitalization of $466.92 billion, a P/E ratio of 13.11, a P/E/G ratio of 4.16 and a beta of 0.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.09. The company's 50-day simple moving average is $113.04 and its two-hundred day simple moving average is $106.62.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.