Exxon Mobil Co. Forecasted to Post Q3 2024 Earnings of $1.95 Per Share (NYSE:XOM)

Exxon Mobil Co. (NYSE:XOM) – Analysts at Zacks Research cut their Q3 2024 EPS estimates for Exxon Mobil in a research report issued on Thursday, September 19th. Zacks Research analyst R. Department now forecasts that the oil and gas company will earn $1.95 per share for the quarter, down from their previous forecast of $2.13. The consensus estimate for Exxon Mobil’s current full-year earnings is $8.36 per share. Zacks Research also issued estimates for Exxon Mobil’s Q4 2024 earnings at $1.77 EPS, FY2024 earnings at $7.91 EPS, Q1 2025 earnings at $1.94 EPS, Q2 2025 earnings at $2.13 EPS, Q3 2025 earnings at $2.12 EPS, Q4 2025 earnings at $2.42 EPS, FY2025 earnings at $8.61 EPS, Q1 2026 earnings at $2.26 EPS and FY2026 earnings at $9.41 EPS.

Other research analysts have also issued research reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $135.00 target price on shares of Exxon Mobil in a report on Tuesday, July 9th. Mizuho boosted their price objective on shares of Exxon Mobil from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Monday, September 16th. Barclays lowered their target price on shares of Exxon Mobil from $147.00 to $142.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. Redburn Atlantic restated a “neutral” rating and set a $120.00 price target (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday. Finally, UBS Group decreased their price target on shares of Exxon Mobil from $157.00 to $149.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.82.

Exxon Mobil Trading Down 0.2 %

NYSE:XOM opened at $117.07 on Monday. The company has a market cap of $461.61 billion, a P/E ratio of 14.35, a P/E/G ratio of 4.38 and a beta of 0.90. Exxon Mobil has a 1 year low of $95.77 and a 1 year high of $123.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.36 and a quick ratio of 1.01. The stock’s fifty day moving average price is $115.94 and its two-hundred day moving average price is $115.59.

Exxon Mobil (NYSE:XOM) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.10. Exxon Mobil had a net margin of 9.73% and a return on equity of 16.07%. The company had revenue of $93.06 billion for the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the prior year, the company posted $1.94 EPS. Exxon Mobil’s revenue was up 12.2% compared to the same quarter last year.

Exxon Mobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 15th. Exxon Mobil’s dividend payout ratio is presently 46.57%.

Institutional Trading of Exxon Mobil

Institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its stake in shares of Exxon Mobil by 532.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,815,314 shares of the oil and gas company’s stock valued at $1,935,779,000 after purchasing an additional 14,158,054 shares during the period. Global Assets Advisory LLC raised its holdings in Exxon Mobil by 16,399.4% during the 1st quarter. Global Assets Advisory LLC now owns 12,616,904 shares of the oil and gas company’s stock valued at $1,466,589,000 after buying an additional 12,540,435 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Exxon Mobil by 565.3% during the 4th quarter. Fisher Asset Management LLC now owns 13,180,807 shares of the oil and gas company’s stock valued at $1,317,817,000 after buying an additional 11,199,696 shares during the last quarter. Primecap Management Co. CA purchased a new stake in Exxon Mobil during the 2nd quarter valued at $980,210,000. Finally, Capital International Investors grew its holdings in Exxon Mobil by 25.1% in the 1st quarter. Capital International Investors now owns 27,511,952 shares of the oil and gas company’s stock worth $3,197,989,000 after acquiring an additional 5,523,429 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

About Exxon Mobil

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.