Exxon Mobil’s (XOM) “Neutral” Rating Reaffirmed at Redburn Atlantic

by · The Markets Daily

Redburn Atlantic reaffirmed their neutral rating on shares of Exxon Mobil (NYSE:XOM – Free Report) in a research note released on Tuesday morning, Marketbeat.com reports. The firm currently has a $120.00 target price on the oil and gas company’s stock, up from their previous target price of $119.00.

A number of other brokerages also recently issued reports on XOM. Truist Financial cut their target price on Exxon Mobil from $124.00 to $121.00 and set a hold rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada reiterated a sector perform rating and issued a $135.00 price objective on shares of Exxon Mobil in a research report on Tuesday, July 9th. Morgan Stanley decreased their target price on shares of Exxon Mobil from $145.00 to $142.00 and set an overweight rating on the stock in a research report on Monday, September 16th. Barclays reduced their price target 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. Finally, UBS Group dropped their target price on shares of Exxon Mobil from $157.00 to $149.00 and set a buy rating for the company in a report on Wednesday, September 18th. Eight research 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. Based on data from MarketBeat, Exxon Mobil currently has a consensus rating of Moderate Buy and a consensus target price of $135.00.

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Exxon Mobil Trading Up 2.7 %

XOM stock opened at $115.83 on Tuesday. The business’s 50-day moving average is $115.76 and its 200 day moving average is $115.61. Exxon Mobil has a 12-month low of $95.77 and a 12-month high of $123.75. The stock has a market cap of $456.72 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 4.86 and a beta of 0.90. The company has a current ratio of 1.36, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13.

Exxon Mobil (NYSE:XOM – Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.04 by $0.10. Exxon Mobil had a return on equity of 16.07% and a net margin of 9.73%. The firm had revenue of $93.06 billion during the quarter, compared to analysts’ expectations of $90.09 billion. During the same period in the previous year, the business earned $1.94 earnings per share. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, sell-side analysts anticipate that Exxon Mobil will post 8.06 EPS for the current fiscal year.

Exxon Mobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $0.95 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.28%. Exxon Mobil’s payout ratio is 46.57%.

Hedge Funds Weigh In On Exxon Mobil

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Exxon Mobil by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 388,543,396 shares of the oil and gas company’s stock worth $38,846,569,000 after acquiring an additional 1,269,495 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Exxon Mobil by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 45,161,783 shares of the oil and gas company’s stock worth $5,249,607,000 after purchasing an additional 2,676,652 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Exxon Mobil by 11.3% in the second quarter. Bank of New York Mellon Corp now owns 40,312,338 shares of the oil and gas company’s stock valued at $4,640,756,000 after purchasing an additional 4,080,716 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $4,235,972,000 after purchasing an additional 5,330,887 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings 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 worth $3,719,296,000 after purchasing an additional 5,235,607 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Exxon Mobil Company Profile

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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.

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