ExxonMobil (NYSE:XOM) Stock Price Down 3.9% - What's Next?

Key Points

• ExxonMobil shares fell 3.9% to about $179.92 as crude prices weakened and investors took profits after a sharp post-earnings rally.
• The company delivered strong third-quarter results, with adjusted EPS of $4.23 beating estimates and revenue increasing sharply; refining margins, LNG growth and shareholder returns supported the performance.
• ExxonMobil raised its quarterly dividend 3.9% to $1.07 per share, marking its 44th consecutive annual increase, while analysts broadly remain constructive and several raised their price targets.

ExxonMobil Corporation (NYSE:XOM - Get Free Report) shares dropped 3.9% during trading on Monday. The stock traded as low as $179.67 and last traded at $179.9180. Approximately 15,942,491 shares traded hands during trading, a decline of 10% from the average session volume of 17,712,787 shares. The stock had previously closed at $187.25.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts raised price targets following the earnings beat. UBS maintained a Buy rating and lifted its target from $199 to $213, while Morgan Stanley raised its target to $187 with an Overweight rating and Wells Fargo increased its target to $189 with an Equal Weight rating. These Analysts Boost Their Forecasts On ExxonMobil After Upbeat Q3 Results
• Positive Sentiment: ExxonMobil reported strong third-quarter profitability. Revenue rose 32.7% year over year to $113.2 billion, while adjusted earnings of $4.23 per share exceeded consensus estimates. Refining-margin gains, LNG expansion and continued shareholder returns supported the results. XOM Q3 Earnings Call Highlights Refining Strength and LNG Expansion
• Positive Sentiment: The company increased its quarterly dividend 3.9% to $1.07 per share, its 44th consecutive annual increase. Exxon also continues to support investors through buybacks, debt reduction and strong free cash flow. Exxon Just Raised Its Dividend By 3.9 Percent
• Positive Sentiment: ExxonMobil agreed to take a 50% stake in Mozambique LNG, expanding its long-term liquefied natural gas growth exposure and strategic investment pipeline. ExxonMobil Takes 50 Percent Stake in Mozambique LNG
• Neutral Sentiment: Fair-value estimates moved modestly higher, from $175.41 to $179.41, suggesting analysts remain constructive but see limited room beyond current valuation. ExxonMobil Stock Fair Value Edges Higher
• Negative Sentiment: Upstream earnings declined about 20% sequentially, highlighting sensitivity to commodity prices and production headwinds. Refining drove much of the quarterly beat, raising questions about how durable the earnings strength will be if refining margins weaken. ExxonMobil Earnings Reveal a Potential Vulnerability
• Negative Sentiment: Crude prices softened and investors took profits after XOM’s sharp post-earnings advance, causing the stock to retreat despite the positive analyst commentary. ExxonMobil Stock Brushing Off Bull Notes After Record High

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on XOM. Zacks Research raised shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a report on Monday, October 19th. Mizuho reduced their target price on ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada restated a "sector perform" rating and set a $180.00 target price (up from $160.00) on shares of ExxonMobil in a research report on Monday, September 21st. William Blair initiated coverage on ExxonMobil in a research note on Wednesday. They issued a "market perform" rating for the company. Finally, DZ Bank lowered shares of ExxonMobil from a "buy" rating to a "hold" rating and set a $156.00 price target on the stock. in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $168.70.

ExxonMobil Stock Performance

The firm has a market cap of $745.75 billion, a PE ratio of 18.49, a P/E/G ratio of 0.94 and a beta of 0.21. The stock has a 50-day moving average price of $167.76 and a 200 day moving average price of $154.35. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.92.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The oil and gas company reported $4.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.12 by $0.11. ExxonMobil had a return on equity of 16.63% and a net margin of 10.24%. The firm had revenue of $110.50 billion for the quarter, compared to analyst estimates of $104.89 billion. During the same period last year, the company earned $1.88 EPS. Research analysts forecast that ExxonMobil Corporation will post 13.58 earnings per share for the current year.

ExxonMobil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 16th will be given a $1.07 dividend. This is an increase 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 dividend yield of 2.4%. ExxonMobil's dividend payout ratio is 42.34%.

Institutional Trading of ExxonMobil

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of ExxonMobil by 5.7% in the first quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company's stock worth $4,812,790,000 after buying an additional 1,540,902 shares during the period. Amundi grew its position in shares of ExxonMobil by 5.1% during the first 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 in the last quarter. GQG Partners LLC increased its position in shares of ExxonMobil by 153.3% in the 2nd 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 during the last quarter. Swiss National Bank increased its holdings in 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. Finally, National Pension Service increased its holdings in ExxonMobil by 1.8% in the second quarter. National Pension Service now owns 9,664,021 shares of the oil and gas company's stock valued at $1,321,265,000 after buying an additional 166,268 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Company Profile

Exxon Mobil Corporation, doing business as ExxonMobil NYSE: XOM, is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas. Its operations span the energy value chain, from resource development and refining to the marketing and distribution of fuels and other energy products.

Through its Energy Products segment, ExxonMobil manufactures and markets transportation fuels, lubricants, and other petroleum-based products. Its Chemical Products business produces petrochemicals, including commodity and performance products used in packaging, automotive components, construction materials, and consumer goods.

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.