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

Exxon Mobil Co. (NYSE:XOM) dropped 1.1% during 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. Approximately 3,628,552 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 16,260,027 shares. The stock had previously closed at $108.47.

Other equities analysts have also issued reports about the stock. BMO Capital Markets raised their price objective on shares of Exxon Mobil from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Friday, October 4th. Barclays cut their price target on shares of Exxon Mobil from $142.00 to $137.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group increased their price objective on Exxon Mobil from $118.00 to $120.00 in a research report on Thursday, October 31st. Redburn Atlantic restated a “neutral” rating and set a $120.00 target price (up from $119.00) on shares of Exxon Mobil in a research report on Tuesday, September 24th. Finally, UBS Group lowered their price target on Exxon Mobil from $149.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Exxon Mobil presently has an average rating of “Moderate Buy” and a consensus target price of $129.68.

Hedge Funds Weigh In On Exxon Mobil

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its stake in shares of Exxon Mobil by 0.3% during the third quarter. FMR LLC now owns 151,863,649 shares of the oil and gas company’s stock valued at $17,801,457,000 after buying an additional 395,218 shares during the period. Geode Capital Management LLC increased its position in Exxon Mobil by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 92,194,981 shares of the oil and gas company’s stock valued at $10,777,735,000 after purchasing an additional 1,622,064 shares during the period. Bank of New York Mellon Corp raised its holdings in Exxon Mobil by 11.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock worth $4,640,756,000 after purchasing an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Exxon Mobil by 16.9% in the second 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 in the last quarter. Finally, Legal & General Group Plc lifted 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 company has a current ratio of 1.35, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $118.51 and its 200 day moving average price is $116.37. The stock has a market cap of $471.46 billion, a P/E ratio of 13.36, a PEG ratio of 4.70 and a beta of 0.89.

Exxon Mobil (NYSE:XOM) last announced its earnings results 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 business had revenue of $90.02 billion during the quarter, compared to the consensus estimate of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.27 earnings per share. Equities research analysts expect that Exxon Mobil Co. will post 7.95 earnings per share for the current year.

Exxon Mobil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 14th were given a dividend of $0.99 per share. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a yield of 3.69%. Exxon Mobil’s dividend payout ratio is 49.32%.

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.