ExxonMobil (NYSE:XOM) Shares Up 1.8% - Here's Why

Key Points

• ExxonMobil shares rose 1.8% to $169.78, while trading volume was 31% below its average.
• The company beat quarterly expectations, reporting earnings of $4.23 per share versus $4.12 expected, and revenue of $110.5 billion versus $104.89 billion expected.
• ExxonMobil raised its quarterly dividend from $1.03 to $1.07 per share. Analysts’ consensus rating remained “Hold,” with an average price target of $170.54.

ExxonMobil Corporation (NYSE:XOM - Get Free Report)'s share price rose 1.8% on Thursday. The stock traded as high as $170.92 and last traded at $169.7750. 12,203,656 shares changed hands during trading, a decline of 31% from the average session volume of 17,642,453 shares. The stock had previously closed at $166.71.

Recent ExxonMobil Headlines

Investors following XOM have been watching these headlines:

• Neutral Sentiment: Exxon is challenging the EU’s carbon-capture rules under an investment treaty and seeking to suspend timing requirements. The case could affect compliance costs and project schedules, but its outcome is uncertain. ExxonMobil launched legal challenge to EU carbon capture rules
• Negative Sentiment: Sanford C. Bernstein cut its price target from $193 to $186, although it retained an “outperform” rating and the new target still implies upside from the cited share price. Sanford C. Bernstein stock recommendations
• Negative Sentiment: ETFs were net sellers of ExxonMobil shares, including a sizable reduction by the iShares Global Energy ETF. This may add some near-term selling pressure, though the reported fund flows are not a change to Exxon’s business outlook. ETFs Are Net Sellers of ExxonMobil

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of ExxonMobil from a "hold" rating to a "buy" rating in a research note on Saturday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of ExxonMobil from $158.00 to $166.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Barclays raised their target price on ExxonMobil from $177.00 to $200.00 and gave the company an "overweight" rating in a research note on Monday, October 19th. UBS Group boosted their price objective on shares of ExxonMobil from $199.00 to $213.00 and gave the stock a "buy" rating in a research note on Monday, November 2nd. Finally, Citigroup increased their target price on ExxonMobil from $155.00 to $175.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ExxonMobil currently has a consensus rating of "Hold" and a consensus price target of $170.54.

ExxonMobil Stock Up 1.8%

The company's 50-day moving average price is $169.10 and its 200 day moving average price is $155.88. The stock has a market capitalization of $692.55 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.82 and a beta of 0.16. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.92 and a current ratio of 1.19.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.11. ExxonMobil had a net margin of 10.24% and a return on equity of 16.63%. The company had revenue of $110.50 billion during the quarter, compared to analysts' expectations of $104.89 billion. During the same period last year, the company posted $1.88 earnings per share. As a group, equities analysts expect that ExxonMobil Corporation will post 13.34 earnings per share for the current year.

ExxonMobil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 16th will be given a $1.07 dividend. This is a positive change from ExxonMobil's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 16th. This represents a $4.28 annualized dividend and a yield of 2.5%. ExxonMobil's dividend payout ratio is presently 42.34%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its stake in ExxonMobil by 1.5% during the 3rd quarter. Fisher Asset Management LLC now owns 31,933,523 shares of the oil and gas company's stock valued at $5,197,181,000 after purchasing an additional 465,409 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in ExxonMobil by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company's stock valued at $4,812,790,000 after purchasing an additional 1,540,902 shares in the last quarter. Amundi boosted its holdings in ExxonMobil by 5.1% in the 1st quarter. Amundi now owns 24,511,156 shares of the oil and gas company's stock worth $4,158,563,000 after buying an additional 1,192,386 shares during the last quarter. GQG Partners LLC increased its position in shares of ExxonMobil by 153.3% during the second quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company's stock worth $2,307,497,000 after purchasing an additional 10,214,420 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of ExxonMobil by 5.9% in the first quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company's stock valued at $2,099,783,000 after buying an additional 693,800 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

About ExxonMobil

ExxonMobil is an integrated energy and chemical company with operations spanning the oil and natural gas value chain. Its businesses explore for and produce crude oil and natural gas, refine and market fuels, and manufacture chemicals and other specialty products. The company's products include gasoline, diesel, jet fuel, lubricants, petrochemical feedstocks and materials used in a wide range of consumer and industrial applications. ExxonMobil also pursues lower-emission solutions, including carbon capture and storage, hydrogen and lower-emission fuels.

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