Exxon Mobil (NYSE:XOM) Shares Down 1.1% After Analyst Downgrade

Shares of Exxon Mobil Co. (NYSE:XOM) traded down 1.1% during mid-day trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $130.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Exxon Mobil traded as low as $106.83 and last traded at $107.27. 3,628,552 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 16,260,027 shares. The stock had previously closed at $108.47.

Several other brokerages also recently commented on XOM. Morgan Stanley lowered their target price on Exxon Mobil from $142.00 to $140.00 in a research note on Thursday, October 31st. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 target price for the company. in a report on Wednesday, October 9th. TD Cowen reduced their price target on Exxon Mobil from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Monday. Redburn Atlantic reiterated a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of Exxon Mobil in a report on Tuesday, September 24th. Finally, BMO Capital Markets boosted their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $129.68.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its holdings in 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 worth $1,935,779,000 after purchasing an additional 14,158,054 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of Exxon Mobil during the second quarter valued at approximately $980,210,000. International Assets Investment Management LLC grew its stake in Exxon Mobil by 7,761.0% in the 3rd quarter. International Assets Investment Management LLC now owns 6,893,677 shares of the oil and gas company’s stock valued at $808,077,000 after purchasing an additional 6,805,982 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Exxon Mobil by 16.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 36,794,077 shares of the oil and gas company’s stock worth $4,235,972,000 after purchasing an additional 5,330,887 shares during the period. Finally, Legal & General Group Plc grew its position in Exxon Mobil by 19.3% during the second quarter. Legal & General Group Plc now owns 32,308,002 shares of the oil and gas company’s stock valued at $3,719,296,000 after buying an additional 5,235,607 shares during the period. 61.80% of the stock is owned by institutional investors.

Exxon Mobil Trading Down 1.1 %

The stock’s 50 day simple moving average is $118.51 and its two-hundred day simple moving average is $116.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.35 and a quick ratio of 1.01. The stock has a market capitalization of $471.46 billion, a PE ratio of 13.36, a PEG ratio of 4.70 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last issued its earnings results on Friday, November 1st. The oil and gas company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.01. Exxon Mobil had a return on equity of 14.73% and a net margin of 9.61%. The firm had revenue of $90.02 billion for the quarter, compared to analyst estimates of $93.98 billion. During the same period in the previous year, the company posted $2.27 earnings per share. The business’s revenue was down .8% on a year-over-year basis. On average, sell-side analysts expect that Exxon Mobil Co. will post 7.95 EPS for the current year.

Exxon Mobil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 14th were paid a dividend of $0.99 per share. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was 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.