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

Shares of ExxonMobil Corporation (NYSE:XOM) were up 1.2% 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 changed hands 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.

XOM has been the topic of several other reports. DZ Bank lowered ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price objective on the stock. in a research note on Tuesday, August 4th. BNP Paribas Exane lowered their target price on ExxonMobil from $165.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Piper Sandler increased their target price on shares of ExxonMobil from $158.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of ExxonMobil from $158.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen raised shares of ExxonMobil to a “hold” rating in a report on Saturday, September 5th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, ExxonMobil presently has a consensus rating of “Hold” and an average price target of $164.78.

ExxonMobil News Roundup

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

Hedge Funds Weigh In On ExxonMobil

Large investors have recently bought and sold shares of the company. Aventus Investment Advisors Inc. bought a new position in ExxonMobil in the 2nd quarter valued at approximately $27,000. Keewaydin Investments LLC bought a new stake in ExxonMobil during the 4th quarter worth approximately $33,000. Portus Wealth Advisors LLC bought a new stake in ExxonMobil during the 1st quarter worth approximately $36,000. Hyposwiss Advisors SA acquired a new position in ExxonMobil in the 4th quarter valued at approximately $37,000. Finally, Atlantic Private Wealth LLC raised its stake in shares of ExxonMobil by 776.9% during the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 202 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Price Performance

The stock has a market cap of $673.42 billion, a P/E ratio of 20.91, a P/E/G ratio of 0.98 and a beta of 0.18. The company’s 50 day moving average price is $159.68 and its 200-day moving average price is $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) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). The business had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same period in the prior year, the firm earned $1.64 EPS. As a group, sell-side analysts expect that ExxonMobil Corporation will post 12.01 earnings per share for the current year.

ExxonMobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 17th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, August 17th. ExxonMobil’s payout ratio 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.