Exxon Mobil (NYSE:XOM) Shares Up 0.3% – Time to Buy?

Exxon Mobil Co. (NYSE:XOM)’s stock price shot up 0.3% on Wednesday . The stock traded as high as $108.54 and last traded at $108.42. 2,928,695 shares traded hands during trading, a decline of 80% from the average session volume of 14,617,070 shares. The stock had previously closed at $108.04.

Analysts Set New Price Targets

A number of brokerages recently issued reports on XOM. Piper Sandler dropped their price target on shares of Exxon Mobil from $138.00 to $127.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. BMO Capital Markets upped their target price 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. JPMorgan Chase & Co. reduced their price target on shares of Exxon Mobil from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Wolfe Research upped their price objective on Exxon Mobil from $137.00 to $138.00 in a research report on Thursday, October 31st. Finally, Scotiabank raised Exxon Mobil from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $129.00 to $145.00 in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $128.84.

Exxon Mobil Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.35 and a debt-to-equity ratio of 0.13. The stock has a market cap of $477.25 billion, a P/E ratio of 13.52, a P/E/G ratio of 2.86 and a beta of 0.91. The firm has a 50 day moving average price of $111.14 and a 200 day moving average price of $115.38.

Exxon Mobil (NYSE:XOM) last released its earnings results on Friday, November 1st. The oil and gas company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.01. The company had revenue of $90.02 billion for the quarter, compared to analysts’ expectations of $93.98 billion. Exxon Mobil had a net margin of 9.61% and a return on equity of 14.73%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business earned $2.27 EPS. On average, analysts forecast that Exxon Mobil Co. will post 7.77 EPS for the current fiscal year.

Exxon Mobil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 14th were issued a $0.99 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 3.65%. This is an increase from Exxon Mobil’s previous quarterly dividend of $0.95. Exxon Mobil’s dividend payout ratio is currently 49.32%.

Hedge Funds Weigh In On Exxon Mobil

Several large investors have recently made changes to their positions in the business. Keystone Financial Group Inc. purchased a new position in Exxon Mobil in the 4th quarter worth approximately $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Exxon Mobil in the fourth quarter worth $46,000. Compass Financial Services Inc purchased a new position in Exxon Mobil during the fourth quarter valued at $48,000. Peterson Financial Group Inc. bought a new stake in Exxon Mobil in the 3rd quarter valued at $51,000. Finally, Highline Wealth Partners LLC purchased a new stake in Exxon Mobil in the 3rd quarter worth $54,000. 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.