Exxon Mobil Co. (NYSE:XOM) Sees Significant Drop in Short Interest

Exxon Mobil Co. (NYSE:XOM) saw a large drop in short interest in July. As of July 15th, there was short interest totalling 35,430,000 shares, a drop of 15.8% from the June 30th total of 42,100,000 shares. Based on an average trading volume of 17,040,000 shares, the days-to-cover ratio is currently 2.1 days.

Analysts Set New Price Targets

Several brokerages recently issued reports on XOM. Piper Sandler raised their price objective on Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen lifted their price target on shares of Exxon Mobil from $128.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. UBS Group increased their price objective on shares of Exxon Mobil from $152.00 to $154.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Wolfe Research began coverage on shares of Exxon Mobil in a report on Thursday, July 18th. They issued an “outperform” rating and a $146.00 target price on the stock. Finally, Barclays dropped their price target on Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.78.

Institutional Investors Weigh In On Exxon Mobil

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its stake in Exxon Mobil by 11.3% during the second quarter. Whittier Trust Co. now owns 152,416 shares of the oil and gas company’s stock valued at $17,546,000 after buying an additional 15,457 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Exxon Mobil by 5.5% in the 2nd quarter. HB Wealth Management LLC now owns 159,072 shares of the oil and gas company’s stock valued at $18,312,000 after acquiring an additional 8,313 shares during the last quarter. Significant Wealth Partners LLC boosted its position in shares of Exxon Mobil by 74.5% during the 2nd quarter. Significant Wealth Partners LLC now owns 6,573 shares of the oil and gas company’s stock valued at $757,000 after purchasing an additional 2,807 shares in the last quarter. Guidance Point Advisors LLC grew its stake in shares of Exxon Mobil by 8.0% in the 2nd quarter. Guidance Point Advisors LLC now owns 1,948 shares of the oil and gas company’s stock worth $218,000 after purchasing an additional 144 shares during the last quarter. Finally, Strategic Blueprint LLC raised its holdings in shares of Exxon Mobil by 9.3% in the 2nd quarter. Strategic Blueprint LLC now owns 83,133 shares of the oil and gas company’s stock worth $9,570,000 after purchasing an additional 7,097 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Exxon Mobil Stock Performance

Shares of XOM opened at $117.33 on Monday. The firm has a market capitalization of $462.63 billion, a PE ratio of 14.38, a P/E/G ratio of 4.52 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $113.86 and a 200 day moving average price of $111.61. Exxon Mobil has a 52-week low of $95.77 and a 52-week high of $123.75.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.13). Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The company had revenue of $83.08 billion during the quarter, compared to analyst estimates of $79.69 billion. During the same period in the prior year, the company posted $2.83 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Exxon Mobil will post 8.65 earnings per share for the current fiscal year.

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.