Exxon Mobil Co. (NYSE:XOM) Raises Dividend to $0.99 Per Share

Exxon Mobil Co. (NYSE:XOM) declared a quarterly dividend on Friday, November 1st,Zacks Dividends reports. Stockholders of record on Thursday, November 14th will be paid a dividend of 0.99 per share by the oil and gas company on Tuesday, December 10th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Thursday, November 14th. This is a boost from Exxon Mobil’s previous quarterly dividend of $0.95.

Exxon Mobil has increased its dividend payment by an average of 1.9% annually over the last three years and has increased its dividend every year for the last 42 years. Exxon Mobil has a dividend payout ratio of 48.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Exxon Mobil to earn $8.24 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 48.1%.

Exxon Mobil Trading Down 0.0 %

XOM stock opened at $120.32 on Wednesday. The business’s 50-day moving average is $118.06 and its 200 day moving average is $116.34. Exxon Mobil has a 12-month low of $95.77 and a 12-month high of $126.34. The stock has a market cap of $528.82 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 5.05 and a beta of 0.90. 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 announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $1.92 earnings per share for the quarter, beating 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 return on equity of 14.73% and a net margin of 9.61%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 EPS. On average, sell-side analysts anticipate that Exxon Mobil will post 7.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on XOM. Morgan Stanley cut their price objective on shares of Exxon Mobil from $142.00 to $140.00 in a report on Thursday, October 31st. BNP Paribas cut Exxon Mobil from a “neutral” rating to an “underperform” rating and set a $105.00 price target for the company. in a report on Wednesday, October 9th. Bank of America began coverage on Exxon Mobil in a research note on Thursday, October 17th. They set a “neutral” rating and a $124.00 price objective on the stock. UBS Group cut their target price on Exxon Mobil from $157.00 to $149.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Sanford C. Bernstein lowered their price target on shares of Exxon Mobil from $139.00 to $138.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.95.

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.