Exxon Mobil (NYSE:XOM) Upgraded by Evercore ISI to “Strong-Buy”

Evercore ISI upgraded shares of Exxon Mobil (NYSE:XOM) to a strong-buy rating in a research note issued to investors on Monday, Zacks.com reports.

Several other equities research analysts have also recently commented on the company. Truist Financial dropped their target price on Exxon Mobil from $124.00 to $121.00 and set a hold rating on the stock in a report on Monday, July 22nd. Sanford C. Bernstein dropped their price target on Exxon Mobil from $139.00 to $138.00 and set an outperform rating on the stock in a report on Wednesday, July 17th. UBS Group upped their price target on Exxon Mobil from $152.00 to $154.00 and gave the company a buy rating in a report on Tuesday, June 25th. Mizuho upped their price target on Exxon Mobil from $125.00 to $128.00 and gave the company a neutral rating in a report on Monday, May 13th. Finally, HSBC upped their price target on Exxon Mobil from $111.00 to $120.00 and gave the company a hold rating in a report on Tuesday, April 30th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $134.39.

Exxon Mobil Stock Performance

XOM stock traded up $2.54 during midday trading on Monday, reaching $116.70. The company had a trading volume of 949,028 shares, compared to its average volume of 17,373,791. 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 stock has a 50 day moving average price of $114.03 and a 200 day moving average price of $112.52. Exxon Mobil has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The firm has a market capitalization of $460.15 billion, a PE ratio of 14.29, a P/E/G ratio of 4.51 and a beta of 0.91.

Exxon Mobil (NYSE:XOM) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.10. The business had revenue of $93.06 billion during the quarter, compared to the consensus estimate of $90.09 billion. Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The business’s revenue was up 12.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. Analysts anticipate that Exxon Mobil will post 8.65 earnings per share for the current year.

Exxon Mobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, August 15th. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Exxon Mobil by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after purchasing an additional 1,269,495 shares during the last quarter. Norges Bank purchased a new stake in shares of Exxon Mobil in the fourth quarter worth approximately $5,519,753,000. Price T Rowe Associates Inc. MD increased its position in shares of Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock valued at $5,249,607,000 after acquiring an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Exxon Mobil by 11.3% during the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after acquiring an additional 4,080,716 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Exxon Mobil by 25.1% during the first quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock valued at $3,197,989,000 after acquiring an additional 5,523,429 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

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.