ExxonMobil (NYSE:XOM) Shares Up 2.7% – Here’s What Happened

ExxonMobil Corporation (NYSE:XOM) shares rose 2.7% during trading on Monday . The company traded as high as $161.59 and last traded at $160.93. Approximately 16,906,983 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 18,931,965 shares. The stock had previously closed at $156.71.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: President Donald Trump said ExxonMobil is among the companies preparing to enter Venezuela, potentially reversing the company’s nearly two-decade absence from the country. A long-term investment agreement could provide access to significant heavy-oil reserves and create a multiyear production and infrastructure opportunity. Trump says Exxon is going in Venezuela
• Positive Sentiment: ExxonMobil and TotalEnergies appointed new heads for their Kazakhstan operations, supporting continuity in a strategically important producing region. ExxonMobil and TotalEnergies appoint new heads for Kazakhstan
• Positive Sentiment: Renewed conflict involving Iran and constraints around the Strait of Hormuz pushed crude prices higher, lifting expectations for Exxon’s upstream cash flow and supporting gains across major oil producers. Chevron and Exxon Mobil rise as oil prices increase
• Positive Sentiment: Exxon is reportedly bidding for Shell’s U.S. chemicals assets, potentially expanding its chemicals footprint and adding scale if the approximately $8 billion transaction is completed. ExxonMobil’s bid for Shell’s U.S. chemicals assets
• Neutral Sentiment: Exxon’s latest quarterly results showed record production and revenue of $114.53 billion, but earnings per share of $3.52 narrowly missed estimates. The results reinforce operational strength while highlighting commodity-price and cost volatility. What XOM’s Q2 earnings say about production growth and market risk
• Negative Sentiment: Trump’s meeting with refiners is focused on lowering gasoline prices, potentially pressuring refining margins and industry profitability. Exxon was not invited, although the company could still face political pressure to reduce prices. Trump presses refiners on gas prices
• Negative Sentiment: A developing tropical storm prompted Exxon and Motiva to prepare East Texas refining facilities for high winds and flooding, creating a risk of temporary operational disruption. Motiva and Exxon prepare refineries for storm

Analyst Ratings Changes

XOM has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Mizuho reduced their price target on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Bank of America downgraded ExxonMobil from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $154.00 to $158.00 in a research note on Tuesday, July 28th. DZ Bank lowered ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price objective for the company. in a report on Tuesday, August 4th. Finally, UBS Group set a $168.00 price objective on ExxonMobil in a research note on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $166.10.

ExxonMobil Trading Up 2.2%

The firm has a market cap of $682.05 billion, a P/E ratio of 21.18, a P/E/G ratio of 0.99 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a fifty day moving average of $151.47 and a 200-day moving average of $152.01.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. Equities research analysts forecast that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be given a dividend of $1.03 per share. The ex-dividend date is Monday, August 17th. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. ExxonMobil’s dividend payout ratio is currently 53.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in ExxonMobil by 14,136.6% in the 2nd quarter. California State Teachers Retirement System now owns 696,207,635 shares of the oil and gas company’s stock worth $95,185,508,000 after buying an additional 691,317,352 shares in the last quarter. Norges Bank acquired a new position in ExxonMobil during the 4th quarter worth $7,625,063,000. GQG Partners LLC boosted its position in ExxonMobil by 153.3% during 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 acquiring an additional 10,214,420 shares during the period. Quantum Portfolio Management LLC bought a new position in shares of ExxonMobil in the first quarter worth $965,932,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of ExxonMobil during the first quarter valued at $766,345,000. 61.80% of the stock is owned by institutional investors and hedge funds.

ExxonMobil Company Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.