TD Cowen Cuts Exxon Mobil (NYSE:XOM) Price Target to $128.00

Exxon Mobil (NYSE:XOM) had its price target lowered by TD Cowen from $132.00 to $128.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the oil and gas company’s stock.

Several other research analysts have also recently issued reports on the company. Barclays cut their target price on Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $115.00 price objective on shares of Exxon Mobil in a report on Thursday, December 12th. BNP Paribas lowered shares of Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research report on Wednesday, October 9th. Truist Financial reduced their price objective on shares of Exxon Mobil from $121.00 to $117.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Exxon Mobil from $127.00 to $128.00 in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $129.68.

Exxon Mobil Stock Performance

XOM opened at $106.42 on Monday. Exxon Mobil has a 1-year low of $95.77 and a 1-year high of $126.34. The company has a market cap of $467.73 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 4.70 and a beta of 0.89. The company’s fifty day moving average price is $117.92 and its two-hundred day moving average price is $116.24. The company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM) last posted its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The company 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 prior year, the business posted $2.27 EPS. On average, analysts expect that Exxon Mobil will post 7.95 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 14th were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 annualized dividend and a dividend yield of 3.72%. This is a positive change from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s payout ratio is 49.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Eagle Capital Management LLC increased its position in shares of Exxon Mobil by 4.9% during the second quarter. Eagle Capital Management LLC now owns 2,460 shares of the oil and gas company’s stock valued at $283,000 after buying an additional 114 shares during the period. Penn Davis Mcfarland Inc. increased its holdings in Exxon Mobil by 3.7% during the 2nd quarter. Penn Davis Mcfarland Inc. now owns 10,860 shares of the oil and gas company’s stock worth $1,250,000 after acquiring an additional 386 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Exxon Mobil by 59.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 63,347 shares of the oil and gas company’s stock worth $7,293,000 after purchasing an additional 23,631 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Exxon Mobil by 9.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,198,658 shares of the oil and gas company’s stock valued at $137,990,000 after purchasing an additional 102,300 shares during the period. Finally, Meridian Investment Counsel Inc. grew its position in shares of Exxon Mobil by 8.3% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 12,209 shares of the oil and gas company’s stock valued at $1,406,000 after purchasing an additional 936 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

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.