ExxonMobil (NYSE:XOM) Shares Up 1.2% on Analyst Upgrade

Key Points

• ExxonMobil shares rose 1.2% after TD Cowen raised its price target from $168 to $180 and maintained a Buy rating.
• Analyst sentiment remains mixed: the stock has an average rating of Hold and a consensus price target of $164.78, despite 12 analysts assigning Buy ratings.
• ExxonMobil reported quarterly revenue above expectations but slightly missed EPS estimates, while maintaining a quarterly dividend of $1.03, or $4.12 annually, yielding about 2.5%.

ExxonMobil Corporation (NYSE:XOM - Get Free Report)'s stock price traded up 1.2% during mid-day trading on Monday after TD Cowen raised their price target on the stock from $168.00 to $180.00. TD Cowen currently has a buy rating on the stock. ExxonMobil traded as high as $163.54 and last traded at $162.4680. 12,794,656 shares were traded during mid-day trading, a decline of 31% from the average session volume of 18,456,395 shares. The stock had previously closed at $160.59.

Several other equities research analysts also recently issued reports on XOM. Barclays cut their price objective on shares of ExxonMobil from $182.00 to $177.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. Citigroup reiterated a "neutral" rating and set a $175.00 target price (up from $150.00) on shares of ExxonMobil in a research note on Wednesday, July 8th. Freedom Capital raised ExxonMobil from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Mizuho reduced their price target on ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Finally, Piper Sandler upped their price objective on ExxonMobil from $158.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $164.78.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices supported the stock. Crude prices rebounded after President Trump rejected an Iranian proposal related to the conflict and the reopening of the Strait of Hormuz. Higher oil prices can improve ExxonMobil’s upstream production revenue and cash flow. What’s Going On With Exxon Mobil Stock on Monday?
• Positive Sentiment: TD Cowen raised its price target to $180 from $168 and maintained a Buy rating. The upgrade signals confidence in ExxonMobil’s earnings outlook and suggests additional potential upside from the stock’s referenced trading level. TD Cowen Adjusts Price Target on Exxon Mobil to $180
• Neutral Sentiment: Justice Samuel Alito will not participate in the Supreme Court’s upcoming climate-change case involving ExxonMobil and Suncor Energy. Environmental groups had sought his recusal. His absence removes a potential procedural dispute but does not resolve the underlying litigation risk facing ExxonMobil. Supreme Court Justice Alito Will Not Participate in Climate Change Case
• Negative Sentiment: Former executive Sheffield alleged that ExxonMobil conducted a smear campaign to prevent him from joining the company’s board. The claim could create reputational and governance concerns, although the reports do not establish that the allegations have been proven. Sheffield Says Exxon Launched Smear Campaign

Institutional Investors Weigh In On ExxonMobil

Large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. raised its holdings in ExxonMobil by 7.4% in the 2nd quarter. QRG Capital Management Inc. now owns 733,692 shares of the oil and gas company's stock valued at $100,310,000 after acquiring an additional 50,285 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of ExxonMobil by 13.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 253,420 shares of the oil and gas company's stock worth $34,648,000 after purchasing an additional 30,423 shares in the last quarter. Premier Financial Group acquired a new stake in shares of ExxonMobil during the 2nd quarter worth $286,000. Security National Bank of Sioux City Iowa IA increased its position in shares of ExxonMobil by 19.8% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 31,120 shares of the oil and gas company's stock worth $4,255,000 after purchasing an additional 5,154 shares during the period. Finally, Anchor Investment Management LLC increased its position in shares of ExxonMobil by 6.8% in the second quarter. Anchor Investment Management LLC now owns 89,385 shares of the oil and gas company's stock worth $12,221,000 after purchasing an additional 5,705 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil Stock Performance

The firm has a market cap of $673.42 billion, a price-to-earnings ratio of 20.91, a P/E/G ratio of 0.98 and a beta of 0.18. The stock has a 50 day moving average of $159.68 and a 200 day moving average of $153.60. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.56 by ($0.04). The firm had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same quarter in the previous year, the company earned $1.64 earnings per share. As a group, analysts anticipate that ExxonMobil Corporation will post 12.01 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Monday, August 17th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ExxonMobil's dividend payout ratio (DPR) is 53.02%.

ExxonMobil Company Profile

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.

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