Exxon Mobil (NYSE:XOM) Stock Price Down 1% Following Analyst Downgrade

Shares of Exxon Mobil Co. (NYSE:XOM) fell 1% during trading on Tuesday after Royal Bank of Canada lowered their price target on the stock from $120.00 to $115.00. Royal Bank of Canada currently has a sector perform rating on the stock. Exxon Mobil traded as low as $117.85 and last traded at $118.78. 3,604,481 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 16,251,022 shares. The stock had previously closed at $119.97.

A number of other equities research analysts have also recently commented on the company. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price on the stock. in a report on Wednesday, October 9th. Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $129.00 to $145.00 in a research note on Thursday, October 10th. TD Cowen boosted their target price on shares of Exxon Mobil from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America started coverage on shares of Exxon Mobil in a report on Thursday, October 17th. They issued a “neutral” rating and a $124.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Exxon Mobil from $127.00 to $128.00 in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Exxon Mobil presently has an average rating of “Moderate Buy” and an average target price of $129.95.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in shares of Exxon Mobil in the second quarter worth about $35,000. Anfield Capital Management LLC lifted its position in Exxon Mobil by 360.0% during the 2nd quarter. Anfield Capital Management LLC now owns 322 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 252 shares in the last quarter. Fairscale Capital LLC purchased a new position in Exxon Mobil in the 2nd quarter worth approximately $39,000. POM Investment Strategies LLC grew its position in Exxon Mobil by 918.9% in the second quarter. POM Investment Strategies LLC now owns 377 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 340 shares in the last quarter. Finally, Hershey Financial Advisers LLC purchased a new stake in shares of Exxon Mobil during the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Exxon Mobil Trading Down 1.5 %

The firm has a market capitalization of $519.46 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 5.10 and a beta of 0.90. The business’s 50-day moving average price is $119.53 and its 200 day moving average price is $116.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The firm had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.27 EPS. On average, equities analysts forecast that Exxon Mobil Co. will post 7.96 earnings per share for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 14th will be given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, November 14th. Exxon Mobil’s dividend payout ratio is presently 49.32%.

Exxon Mobil Company Profile

Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.